WHAT THE OTHER PAPERS SAY THIS MORNING March 18, 2012 FINANCIAL TIMES BANKING QUINTET UNITE FOR HEDGING TOOL Five banks have joined forces to create a hedging tool designed to improve the health of their balance sheets and protect them against market sell-offs as international regulations force institutions to increase the quality of their assets. Barclays Capital, HSBC, Lloyds, Nomura and UBS are to launch [...]
Argentina to sue UK oil groups March 15, 2012 ARGENTINA has given its sternest warning yet that British oil explorers in the Falklands are no longer welcome in what it claims as its sovereign territory – but the UK government says it will back companies’ right to drill. Argentine foreign minister Hector Timerman (pictured) called the activities “illegal” and “illegitimate” at a news conference yesterday. [...]
Barclays execs are quids in after £30m share sale March 14, 2012 TOP staff at Barclays cashed in around £30m worth of shares this week, the bank said yesterday, just weeks after it revealed that chief executive Bob Diamond took home pay, shares and benefits totalling £17m last year. Diamond sold 29,168 shares worth nearly £70,000 as part of the firm’s long-term share award schemes. He also [...]
Why not mess around on river before footie March 14, 2012 AHEAD of Fulham’s home derby game against Chelsea at Craven Cottage on 9 April, the club are offering a two hour voyage on a luxury river boat with food provided by Jamie Oliver’s Fabulous Feasts event team. The deal, for the game on the Easter bank holiday Monday, also includes a champagne reception and, of [...]
ATP tennis sees its world stars sign up to return for 02 event March 14, 2012 Most tennis fans would relish the chance to see the world’s top players slug it out in a setting such as the 02. The 2012 Barclays ATP tournament in London in November follows last year’s massive success. The VIP Suites, which are both spacious and beautifully furnished, offer an exceptional and unrestricted view of the [...]
BofA Merrill Lynch moves to boost weakened broking unit March 14, 2012 SIMON Mackenzie-Smith, who has been drafted in to reinforce Bank of America Merrill Lynch’s battered UK corporate broking unit, has hired Peter Luck from UBS as he strives to retain the bank’s long list of clients following a raft of executive departures. Luck will be a senior player in the team at Merrill Lynch, which [...]
Women now make up a quarter of new FTSE board members March 12, 2012 A QUARTER of new FTSE 100 board hires made in 2011 were female, research will reveal this morning, in a new record that highlights a dramatic change at the top of Britain’s largest companies. Of the 190 appointments made to FTSE 100 boards during 2011, 47 were women, boosting the total number of female-held directorships [...]
Leaders give green light to bailout plan March 12, 2012 EUROZONE leaders approved the €130bn (£109.3bn) Greek bailout package yesterday, after private sector investors were forced to take major losses on their holdings of the government’s debt. Last week investors accounting for 85.8 per cent of the private sector’s holdings agreed to take a 53.5 per cent write-down, and an additional 9.9 per cent were [...]
CITY MOVES | WHO’S SWITCHING JOBS March 12, 2012 Grainger Laure Duhot will be joining the UK’s largest listed residential property landlord in the new role of director of strategic capital markets. She will oversee Grainger’s evolving business strategy, with specific focus on the creation and management of new joint ventures, funds and strategic alliances. Duhot has worked extensively in investment banking and global [...]
FTSE lifts as defensive gains offset miner and bank losses March 12, 2012 BRITAIN’S blue-chip index ended with a small gain yesterday, as profit-taking on mining companies and banks was offset by gains among defensive shares. The FTSE 100 index ended up 5.26 points, or 0.1 per cent, at 5,892.75, having traded 90 per cent of its 90-day volume average. The index only moved into positive territory late [...]