GEORGE OSBORNE’S CAREER CHANGE AS BARCLAYS COMES CALLING August 11, 2011 WHAT’S this? George Osborne is moving on from the Treasury to become a relationship director in the Finance and Brokers team at Barclays Corporate? “Osborne’s role will include managing a portfolio of mid to large-size finance and broker clients, and working with the credit team to ensure the effective risk management of these clients,” declared [...]
Volatile FTSE ends on a high August 11, 2011 AFTER another rollercoaster session, fuelled by rumours about French banks, sovereign debt, and a possible short-selling ban in Europe, Britain’s leading share index ended with triple-digit gains yesterday. “We’re just awash with rumours, dragging us from pillar to post… We’re calling propagators of such stuff the ‘Pinstriped Looters’. They come in, smash the market with [...]
FTSE hit by fresh volatility August 11, 2011 The top share index pared gains by midday, as concerns over the stability of European banks in the face of the global debt and growth crisis took the wind out of an earlier advance. Barclays, Royal Bank of Scotland and Lloyds Banking Group swung violently on worries banks will sustain further losses associated with exposure [...]
European markets bounce back August 11, 2011 European markets made a tentative recovery this morning after fears over France’s credit rating triggered losses across the globe. Rumours that agencies were planning to take away France’s Triple A rating were denied and President Sarkozy moved to reassure investors, which lifted stocks. The intervention came after the country’s banks took a battering yesterday with [...]
FTSE turns downwards on unease over France’s banks August 10, 2011 SHARPLY weaker banks dragged Britain’s top shares lower yesterday as fears about Europe’s debt came into sharp focus on rumours France may be in danger of losing its triple-A credit rating, and on concerns over the outlook for French banks. The UK benchmark index ended down 157.76 points, or 3.1 per cent, at 5,007.16, its [...]
Bank stocks hit by France debt fears August 10, 2011 Banking stocks have taken a battering today over fears that France may be the next sovereign to face a ratings cut. French president Nicolas Sarkozy has ordered new budget cuts to reduce France’s public spending deficit, a response to market concerns over its indebtedness. Shares in French banks, which are among the most exposed to [...]
FTSE recovery gains traction after Fed boost August 10, 2011 The FTSE continued its rally in early trading today after an unprecedented pledge by the Fed to keep interest rates low to stimulate economic growth encouraged investors. Wall Street rebounded yesterday setting the tone for markets across the globe. In tandem with positive export data from China showing a lift in July the move by [...]
Markets bounce back ahead of Fed statement August 9, 2011 Britain’s top share index bounced back above the 5,000 level and US markets opened higher as investors hoped for some soothing words from the US Federal Reserve on the global debt and growth problems. Wall Street has gained ground since opening, with major indices climbing more than two per cent ahead of the Fed’s policy [...]
FTSE sinks below 5,000 August 9, 2011 The FTSE 100 plunged below 5,000 for the first time since 7 July 2010 as the crisis of confidence in world markets deepened. The latest plunge came after indices across Europe had opened on the front foot before returning to a downward spiral. Rallying calls form President Obama failed to limit the damage caused by [...]
CITY MOVES | WHO’S SWITCHING JOBS August 8, 2011 Santander The retail and commercial bank has promoted Robin Foale, formerly the divisional managing director for corporate and commercial banking in Thames Valley & South West, to managing director for its business banking division. In his new role, Foale will review the services offered to small businesses in Santander’s branch and telephone network. Prior to [...]