Ihtimal can continue Godolphin’s sweet record in the Solera Stakes August 8, 2013 ASCOT stages its popular Shergar Cup meeting tomorrow and the fields are as competitive as ever. It really does look like a minefield for punters, but one that has caught my eye is RACY in the Barclays Shergar Cup Dash (2.05pm) for the in-form Brian Ellison team. The six-year-old ran a stormer to finish fourth [...]
What the other papers say this morning for 8 August 2013 August 7, 2013 FINANCIAL TIMES High-speed orbital rail for London A new high-speed “rail bagel” encircling London will become a priority for the capital as its population soars to 10m over the next 20 years, Boris Johnson’s transport adviser has said. Isabel Dedring, deputy mayor for transport at City Hall, said new light-rail and tram services – now [...]
InterContinental Hotels gets a boost from strong US demand August 6, 2013 INTERCONTINENTAL Hotels Group said yesterday it would return $350m to shareholders via a special dividend as it posted a big rise in first-half profits on the back of strong US demand. The company behind the Holiday Inn and Crowne Plaza brands said operating profit rose 20 per cent to $338m (£220m) for the six months [...]
City Moves for 7 August 2013 | Who’s switching jobs August 6, 2013 Deutsche Asset & Wealth Management The investment organization has announced the appointment of Jonathan Kent as head of financial intermediaries distribution for the UK and Ireland. He most recently worked in the Bank’s institutional client group – part of its corporate banking and securities division. Prior to that, he held various roles at JP Morgan, [...]
US trade deficit narrows to lowest since October 2009 – upwards GDP revision likely August 6, 2013 The US Bureau of Economic Analysis has said the country’s trade deficit narrowed in June, coming in at a lower than expected $34.22bn. This was down from a downwardly revised $44.10bn deficit the month before. Analysts had expected to see the trade deficit shrink slightly less drastically to $43.50bn. June's trade deficit was its lowest [...]
EU looks to adopt Britain’s tough bank capital rules August 5, 2013 EUROPE’S banks could soon face the same tough conditions as their British peers as the continent’s regulators yesterday said they would look at imposing a leverage ratio cap similar to that taking hold in the UK. British lenders such as Barclays and Nationwide have been caught by the three per cent cap, with both forced [...]
Barclays hires 13 banks to sell £5.8bn of shares August 5, 2013 BARCLAYS hired another nine investment banks yesterday to sell its shares, adding to the four already announced last week to bring a total of 13 on board for its multi-billion pound rights issue. The advisers will share a fee pot of around £130m for working on the £5.8bn issue. The shares are being issued as [...]
City Moves: Who’s switching jobs August 5, 2013 White and Case The law firm has announced the appointment of Ross Allardice as partner in its UK and European private equity team. He has 11 years’ experience working with private equity funds, and was most recently at Kirkland & Ellis. Barclays The bank’s corporate and employer solutions division has recruited Sean McGowan to its global stock [...]
Any Other Business – 06/08 August 5, 2013 City and rugby stars collided last week at the launch of rugby player-turned-broker-turned-entrepreneur Peter Winterbottom’s new venture, the specialist rugby communications agency Full Contact. Wints played rugby for both England and the Lions – before broking at Creditex – and the guests at City favourite, the central London rooftop bar Aqua, seemed to reflect his [...]
Barclays appoints banks to £5.8bn rights issue syndicate August 5, 2013 Barclays has announced the appointment of additional underwrites and joint bookrunners for a rights issue intended to raise £5.8bn (release). It's a long list, and will probably mean some hefty fees for Barclays to pay: BN AMRO Bank N.V., Banco Santander S.A., BNP Paribas, ING Bank N.V., J.P. Morgan Securities plc (which conducts its UK [...]