Aldermore reaches break even August 1, 2011 New bank Aldermore has broken even, two years after its launch, and has accumulated total assets of more than £1bn, the company said on Monday. Aldermore said it now had loans of more than £800m for 9,500 customers, and had 42,000 deposit accounts. Aldermore and other new entrants such as Metro Bank, Haymarket Financial are [...]
Growth concerns and debt talks set to lower opening July 31, 2011 IT’S difficult to see any way but down for shares this morning. There’s always the potential for the US debt impasse to be overcome and an agreement on the debt ceiling to be reached any minute, but without that there is just too much uncertainty around. GFT quotes two-way prices on stock indices around the [...]
Banking on surprising the markets July 31, 2011 THIS week sees the release of interim figures from a number of UK banks, and few are holding out hope for particularly strong results. A generally weak UK economy that grew an anaemic 0.2 per cent in the second quarter, coupled with concerns about the risk of UK bank exposure to possible European default, have [...]
THE WEEK AHEAD in association with GFT July 31, 2011 COMPANY NEWS ● It’s a busy week for results. Today, Hiscox, HSBC, Intertek and Ultra Electronics Holdings announce. ● Barclays, Capital Shopping Centres, Cookson, Drax, Fresnillo, GKN, Meggitt, Millennium & Copthorne Hotels, Rotork, Weir and Xstrata all announce tomorrow. ● Announcing on Wednesday are Capital & Counties Properties, Ferrexpo, Legal & General, Rexam, Rightmove, Standard [...]
BETFAIR’S IRON LADY IS ON HER LAST LEG July 31, 2011 FOUR down and one to go. No, not the number of top-level scalps claimed by the News Corp scandal, but the feats of endurance completed by Betfair’s Susannah Gill, the Iron Lady of the City, as part of her five-part “ultimate challenge” between April and September. Gill, who is making the original iron woman Margaret [...]
WOULD YOU LIKE A WILL OR DIVORCE WITH THAT? July 28, 2011 WHEN the Legal Services Act was announced last year, it was quickly dubbed the Tesco law, due to rumours it could encourage supermarkets to start offering legal services to their customers. But come Monday the moniker may have to be altered. Despite news this week that the Act could be delayed until the end of [...]
Barclays Capital in new broking win July 28, 2011 BARCLAYS Capital, the investment banking of arm of Barclays, has won another corporate broking client to add to its growing presence in UK equities. Barclays beat competition from other investment houses to win the joint mandate at Catlin, the insurance broker. It will share the mandate with Catlin’s long-term broker JP Morgan, and is replacing [...]
Barclays launches £500m infrastructure debt project July 28, 2011 Barclays Capital has set up a £500m fund that will invest in the debt of infrastructure projects, the latest asset manager to offer an alternative to equity-focussed funds in the sector. Private equity-type funds investing in the debt rather than equity of infrastructure assets are looking to fill the void left by banks tightening their [...]
Villas-Boas to make use of Lampard’s versatility July 27, 2011 CHELSEA boss Andre Villas-Boas insists he has not ditched 4-3-3 despite his tactical experimentation proving a landslide success in yesterday’s 4-0 win over Hong Kong champions Kitchee. Villas-Boas dabbled in a 4-2-3-1 formation, with Frank Lampard in a holding midfield role – and saw the Blues romp to victory in the first of their two [...]
Sweet day for Dunkin’s as shares wolfed July 27, 2011 HUNGRY investors snapped up shares in the owner of US snack chain Dunkin’ Donuts on its first day of trading yesterday, sending them up almost 50 per cent by the close. Dunkin’ Brands, which also owns ice cream seller Baskin-Robbins, raised its planned $422.8m (£258m) through a Nasdaq initial public offering after pricing its offering [...]