WHAT THE OTHER PAPERS SAY THIS MORNING November 17, 2009 FINANCIAL TIMES BARCLAYS RETAIL CHIEF WARNS NEW ENTRANTSThe new head of global retail banking at Barclays has joined the backlash of traditional bankers against the entry into banking of supermarkets and other consumer companies. Antony Jenkins said the new competitors may be under-estimating the difficulties of breaking into the market. APOLLO SETS SIGHTS ON NYSE [...]
Busy week for US offerings November 15, 2009 UP to six companies will try to go public this week, in what could be the US’s busiest week of the year for initial public offerings. The IPOs include a $520m (£310m) offering on the New York Stock Exchange from coal mining company Cloud Peak Energy and a $69m deal from national security specialist Global [...]
Conflicting signals halt winning streak November 10, 2009 US stocks closed mostly lower yesterday as differing views on whether the market can build on recent gains stalled the S&P 500’s six-day winning streak. The Dow industrials eked out a small gain to set a fresh 13-month high as cautious statements on the economic outlook from several Fed officials underscored the belief that easy [...]
THE NEW YORK REPORT November 9, 2009 A broad US stocks rally sent the Dow industrials to a 13-month high last night, after the Group of 20 pledged to keep aid flowing to the world economy, strengthening investors’ desire for risk. The agreement by G20 finance ministers and central bankers over the weekend to keep stimulus in place boosted global stocks on [...]
Buffett sees third quarter profits triple November 8, 2009 THE world’s second-richest man, Warren Buffett, has seen profits for his investment vehicle Berkshire Hathaway almost triple in the third quarter to $3.2bn (£1.9bn). Strong markets and derivatives gains in the three months to September, up from $1.1bn for the same period last year, have caused the improvement. It marks a strong recovery from a [...]
Yell gets the go ahead for fundraising November 2, 2009 YELLOW Pages publisher?Yell was yesterday given the green light by creditors over plans to refinance its massive £3.8bn debt mountain. The deal enables Yell to press ahead with a rights issue worth at least £500m. The company’s shares have been extremely volatile in recent weeks, after the firm was forced to extend its deadline three [...]
Putting the drama back into LSE share trading October 28, 2009 XAVIER Rolet, chief executive of the London Stock Exchange (LSE), is looking to rekindle some of the fun and excitement of share trading that has been lost since the bulk of the City’s traditional open outcry trading floors were closed. As City A.M. first revealed on Tuesday, the LSE is axing the sculpture known as [...]
WHAT THE OTHER PAPERS SAY THIS MORNING October 27, 2009 FINANCIAL TIMES JCB FACES FIRST ANNUAL LOSS AFTER GLOBAL DEMAND FALLSJCB faces a struggle to avoid its first annual loss this year, its chief executive warned, as he cautioned that he saw no recovery in demand for construction equipment outside of China next year. Matthew Taylor, chief executive of the UK’s largest maker of earth-moving [...]
Campari’s chief is taking a breather before returning to the M&A trail October 25, 2009 Having forked out a cool $2bn (£1.2bn) on 16 separate acquisitions over the past 15 years, it is no wonder that Campari – the world’s sixth largest drinks firm – is now calling for a temporary halt to the spending. Its chief executive, Bob Kunze-Concewitz, recently struck a cautious note due to the downturn that [...]
AVIVA MAKES WALL STREET DEBUT October 20, 2009 UK INSURANCE giant Aviva started trading on the New York Stock Exchange (NYSE) under the ticker symbol “AV” yesterday. Andrew Moss, chief executive, rang the Opening Bell at the NYSE to mark Aviva’s first day of trading, accompanied by Lord Sharman of Redlynch, group chairman. The secondary listing was criticised by some City analysts as [...]