FTSE pegged back by weak resources March 6, 2012 Resource stocks dragged the FTSE 100 backwards in early trading as fears over global growth continued to cast a shadow over markets. Higher oil prices triggered by the West’s tussle with Iran also added to the uncertainty and investor sentiment was weak. London’s blue chip index tracked losses on Wall Street and in Asia with [...]
London needs somebody to gamble on an IPO March 5, 2012 WITH the Edwards vacuum technology company heading for a £1bn flotation in the US and Mayfair-based jewellery retailer Graff also preferring a Hong Kong listing to braving the UK new issue markets, only one thing is certain: the London IPO market is in a pretty bad way. Bankers that I’ve been speaking to say they [...]
CITY MOVES | WHO’S SWITCHING JOBS March 5, 2012 Warburg Pincus The private equity firm focused on growth investing has announced the appointment of Francesco Granata as an executive-in-residence, focusing on the healthcare sector. Granata will be based in Warburg Pincus’ London office, and will help the firm assess new investments in the biopharmaceutical sector. He has over 35 years experience in the pharmaceutical [...]
WHAT THE OTHER PAPERS SAY THIS MORNING March 4, 2012 FINANCIAL TIMES EU TO PUSH QUOTA FOR WOMEN DIRECTORS The EU’s executive is to press ahead with plans for quotas to increase the proportion of women on corporate boards, triggering a protracted fight between Brussels and national governments. Viviane Reding, justice commissioner, will announce the first step towards European-level legislation, a year after she threatened [...]
BACK IN THE SADDLE FOR PROPERTY’S EPIC CYCLE March 4, 2012 AS MEMBERS of the property world flock into Cannes today for a week of networking at the industry’s MIPIM conference, 86 of their peers are taking a slower route through the French countryside by taking part in the six-day Aedas Cycle to Cannes charity ride. Executives from firms including Land Securities, Capital and Counties, and [...]
Qataris fund rollout of 75 City info pods March 4, 2012 THE QATARI Islamic Bank’s British branch, QIB UK, has partnered with on-the-go media firm Renew to fund the rollout of a new round of information pods in the City of London. Since first hitting the streets on 26 January, Renew’s 4.5-feet high pods double as recycling bins and information screens, updating City workers on the [...]
Sipps are a tasty cocktail but are too neat for some March 4, 2012 ON THE face of it, self-invested personal pensions (Sipp) appear to be the perfect way for everyone to save for the future – offering the investment trinity of value, flexibility and choice. But Sipps aren’t always and everywhere the right choice – it could pay to weigh up the pros and cons. THE TRANSFER MARKET [...]
FTSE sees banks up as Greece is saved March 2, 2012 The FTSE 100 was flat this morning and the only significant gainers were banks buoyed by further steps towards saving Greece from the financial abyss. In Wall Street and in Asia nudged up overnight as the European Central Bank’s fresh liquidity injection this week served to warm up investor sentiment. The spotlight is on the [...]
Barclays taps ECB FOR £6.8bn March 2, 2012 Barclays said it tapped the European Central Bank (ECB) for 8.2 euros (£6.8bn) at its offer for ultra-cheap long-term funding this week. Barclays did not take any cash at the previous offer in December, and had indicated it had no plans to take any funds. It said on Friday the money would be used to [...]
Edwards hires banks for US flotation plan March 1, 2012 EDWARDS, a private equity-backed vacuum pump engineering company based in Crawley, is poised to try its luck with an IPO in the US after London gave it the thumbs-down last year. The group’s backers, CCMP Capital and Unitas Capital, have hired a group of banks, including Goldman Sachs and Barclays Capital, to prepare for a [...]