Facebook banks get small fee March 19, 2012 Facebook will pay a fee of just 1.1 per cent to underwriters of its initial public offering, a source with knowledge of the company’s plans said yesterday. Facebook’s underwriters include Morgan Stanley, JP Morgan, Goldman Sachs, Bank of America, Barclays and Allen & Co. Earlier this month, the company also named an additional 25 banks [...]
Zayo agrees $2.2bn deal for AboveNet March 19, 2012 ZAYO Group, a privately-owned fibre-based provider of bandwidth, yesterday agreed to acquire AboveNet for $2.2bn (£1.38bn), after making an offer at $84 a share, 13 per cent above AboveNet’s previous closing price. But shares in AboveNet rose 14 per cent to $84.45 after the announcement, indicating investors expected a better offer. “AboveNet and Zayo’s business [...]
Dim view of banks puts the brakes on FTSE 100’s rally March 19, 2012 BRITAIN’S top shares eased back from last week’s 2012 highs yesterday, as weakness in banks after recent strong gains overshadowed a late-session recovery from miners, with investors awaiting the next catalyst to drive the market. The benchmark FTSE 100 index closed down 4.47 points, or 0.1 per cent, at 5,961.11. Banks, which spearheaded the FTSE [...]
Banks and miners stall FTSE rally March 19, 2012 The FTSE 100 edged lower today as last week’s rally was ended by investors steering away from banking and energy stocks. Banks have led the market higher over recent sessions following a deal over Greek debt and improving market sentiment toward the stocks which have been hit by market volatility over the past year. They [...]
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 [...]