BarCap top of debt league in first-quarter April 4, 2011 BARCLAY’S Capital has topped a list of global banks for handling the highest value of debt capital for the first-quarter of this year. The British investment bank handled the raising of $128.6bn (£79.7bn) through debt instruments over the first three months of 2011, according to Thomson Reuter’s global league table. The lender knocked Bank of [...]
Banks reject claims over competition April 3, 2011 SANTANDER UK has rejected a suggestion by MPs that its purchase of 318 RBS branches last year was a “missed opportunity” to improve the competitiveness of high street banking in Britain. “’The deal to buy the RBS branches was approved by the EU. Santander is a challenger bank in the UK, not an incumbent,” a [...]
CITY MOVES | WHO’S SWITCHING JOBS April 3, 2011 Bibby Financial Services The invoice finance specialist has appointed Andy Leopold as sales director for the south, based in London. Leopold, who has been promoted from the role of sales director for London and Hastings, brings more than 19 years’ experience working in the financial services sector. He will be responsible for securing new business [...]
Taking a punt on FTSE 250 companies April 3, 2011 THERE are tax, leverage and other advantages to using spread betting to get exposure to equities. For some investors, of course, these benefits may not offset the time and skill needed to negotiate the spread betting markets. However, some markets are easier than others to manage, with the FTSE 250 the best place to start. [...]
Denmark could teach Ireland a lesson March 31, 2011 SO Ireland’s banks need another €24bn if they are to become strong enough to withstand another shock. It is a fiscal catastrophe of immense proportions to which the European establishment doesn’t seem to have much of an answer, at least not right now. But if you want to see how to really deal with troubled [...]
BORIS Vs BLOOMBERG March 31, 2011 BORIS Johnson yesterday hit back at New York mayor Michael Bloomberg, accusing him of trying to pinch London-based Barclays bank. Johnson said it would be a “tragedy” if London were to lose Barclays, and pointed out the bank had shown its commitment to the capital by sponsoring his flagship “Boris bike” cycle hire scheme. “This [...]
US revises up number of jobless claims March 31, 2011 CLAIMS for unemployment benefit in the US have been revised upwards, and came in above the expectations of economists for the latest week of data available. New jobless claims were reported at 382,000 last week, yet the figure should have been 394,000, government sources said yesterday. For the week ending 26 March, 388,000 new benefit [...]
FTSE ends six-day rally after Irish bank stress test results March 31, 2011 BRITISH bank shares fell on further concerns about the state of finances in the peripheral Eurozone countries, dragging the country’s top shares lower by the close yesterday and ending a six-day winning run. Ireland said its four remaining banks require another €24bn ($34.1bn) to enable them to withstand potential losses from a worsening of the [...]
BLOOMBERG WOOS BARCLAYS March 30, 2011 New York mayor Michael Bloomberg (pictured) yesterday called on Barclays bank to move its headquarters to the Big Apple. “It would be a great move for them to move here,” Bloomberg said at a press briefing. “I hope they move here; it’d be great for us.” Barclays has held early-stage talks with US regulators about [...]
Populist tax on oil firms has backfired March 30, 2011 IF George Osborne is to be believed, Britain is open for business once again. Some senior executives clearly agree: Sir Martin Sorrell, WPP’s boss, wants to move his firm’s legal base back to Britain if all of the proposals in the Budget are voted through. But if you are an oil and gas company, or [...]