IMF growth gloom and poor data in manufacturing send FTSE lower October 9, 2012 UK shares fell for a second session yesterday, dented by a wary view of Europe’s debt troubles and concerns that gloomy global economic data bodes ill for the upcoming corporate earnings season. Data showed manufacturing output shrank more than expected in August and exports fell steeply, pointing to deterioration both in the domestic and the [...]
Barclays to acquire ING Direct October 9, 2012 Barclays this morning announced it is buying the deposits, mortgages and business assets from Dutch bank ING Direct as it looks to expand its retail banking operations. ING Direct, which wants to exit the UK retail banking market, said the move was part of a review of its strategic options for its UK business. Barclays [...]
FTSE 100 lower on weak corporate news October 8, 2012 The blue chip index was firmly lower in early trade, as worries over the health of the global economy pulled stocks down. Weaker resources prices and concerns ahead of a meeting of EU finance ministers to launch the latest bailout fund weighed on sentiment. Materials firm Cookson Group and recruiter Michael Page led the index [...]
British SMEs should export their way to prosperity October 7, 2012 FOR entrepreneurs limited by our shores, now is time to leave Britain on the nearest plane, train or automobile. Not to emigrate to a more business friendly environment (at least, not just yet) – but to embrace what made this country great: international trade. Research commissioned by Barclays reveals some good news for companies weighing [...]
FTSE 100 boosted by mining shares October 5, 2012 The blue chip index opened up this morning, boosted by headline mining shares as investors adopted a ‘risk-on’ attitude. Outside of the miners, insurer CPP Group topped the leaderboard in early trading, while brewer Fuller, Smith & Turner jumped more than four per cent. Russian oil company Ruspetro soared 3.85 per cent in early deals, [...]
Controversial tax boss leaves in Barclays shake up October 4, 2012 BARCLAYS’ investment arm will be radically shaken up with the equities and fixed income arms being merged into a streamlined new markets division, according to an internal memo seen by City A.M. yesterday. Iain Abrahams is the most high-profile banker stepping down in the reorganisation. He came to public attention by creating controversial products to [...]
Salford-based Luxfer lists its shares in NY October 3, 2012 LUXFER Holdings, a speciality materials group, saw its shares rise on their first day of trading on the New York Stock Exchange yesterday, reaching 17 per cent above the offer price by mid-afternoon. The group is being brought to the US market by Jefferies, which recently led the successful flotation of Manchester United in the [...]
FTSE 100 down on poor Chinese data October 3, 2012 The leading share index slipped back under the 5,800 mark this morning, as weak Chinese services sector data weighed on investor sentiment. Mining stocks were hit, as the poor outlook from Asia raised concerns about raw demand. Leading the fallers in early trade was Lamprell, down more than 32 per cent, as it issued its [...]
Barclays promotions signify cultural shift towards retail October 2, 2012 BARCLAYS yesterday gave two top executives from the retail end of its business seats on its executive committee, as new boss Antony Jenkins realigns the bank’s management toward high street banking. Valerie Soranno Keating, chief executive of Barclaycard, and Ashok Vaswani, chief executive of UK retail and business banking, will report directly to group chief [...]
Financial firms fall out of top brands October 2, 2012 BARCLAYS, Zurich and UBS have dropped out of a list of the world’s top 100 brands, making way for a slew of tech and luxury firms – as well as a well-known nappy maker. “Recent events, such as the notorious Libor scandal, have tarnished the reputation of leading brands,” said Interbrand, which compiled the 13th [...]