BarCap eyes retail share offer venture April 11, 2010 BARCLAYS Capital, the investment banking arm of British financial services giant Barclays, yesterday said it had formed a joint venture with Solid Solutions Associates (SSA) to oversee retail share offerings in initial public offerings. The deal will see SSA advise and assist Barclays Capital on project management aspects of any retail tranche of initial public [...]
The first 100 days are key for managers April 11, 2010 RIGHT now, many people’s minds are focused on 6 May, and the general election. But those who are likely to be in power might do well to turn their minds towards the day after, when they actually walk into their departments and have to starting getting things done. And that means dealing with the Sir [...]
FTSE 100 declines on weaker metal prices and concerns over Greek debt April 8, 2010 Britain’s top share index posted its steepest one-day decline in six weeks yesterday, pressured by miners hit by weaker metals prices, and banks on revived concern over Greece’s debt. The FTSE 100 closed 49.36 points, or 0.9 per cent, lower at 5,712.70, its lowest close since March 31, after it shed 0.3 per cent on [...]
CITY MOVES | WHO’S SWITCHING JOBS April 7, 2010 Nomura The Japanese investment bank has appointed Mikael Dahl as co-head of its Nordic investment banking team, based in London. Dahl was previously a partner at EQT Partners and brings with him over 20 years of investment banking experience. He previously worked at Citigroup/Salomon Brothers from 1994 to 2008, latterly as European co-head of the [...]
Barclays accuses Lehman of keeping back $3bn assets after 2008 collapse April 6, 2010 THE legal wrangle between Barclays and Lehman Brothers Holdings is set to intensify this week when the British bank tells a judge Lehman is withholding $3bn (£2bn) in assets. Barclays, which bought Lehman’s core operations after it imploded in September 2008, says it is entitled to around $750m left in clearance boxes and $750m in [...]
FTSE ends higher on oil and mining after upbeat US data April 6, 2010 BRITAIN’S top shares closed 0.6 per cent higher yesterday, lifted by firmer commodities after upbeat US data raised demand expectations, while Vodafone fell as Verizon merger talk cooled. The FTSE 100 ended up 35.46 points at 5,780.35, having earlier hit a fresh 21-month intra-day peak of 5,790.40. The index climbed 1.2 per cent on Thursday [...]
BG defends chief’s £28m pay bonanza April 5, 2010 BG GROUP has defended its chief executive’s stratospheric pay package ahead of a vote on remuneration by shareholders at its annual general meeting in May. Frank Chapman more than doubled his compensation to £28m in 2009 after exercising a large chunk of share options. Although his basic salary and bonus came to £2.7m, the bulk [...]
Global banking levy could come in by November April 5, 2010 BRITAIN could sign up to an international banking levy as soon as the November meeting of G20 leaders at Seoul, Prime Minister Gordon Brown said yesterday. The UK, France and Germany are understood to be agreed on the argument for a “global responsibility” tax that would cost the likes of Goldman Sachs, Barclays and JPMorgan [...]
BarCap poaches veteran banker from Rothschild April 5, 2010 BARCLAYS Capital has poached the co-head of Rothschild’s investment banking division in the Middle East and North Africa to head up its financial institutions group (FIG) coverage, sources said yesterday. Michael Helou, 37, set up Rothschild’s Dubai office in 2006. In his new role, expected to begin in the middle of May, he will be [...]
Watch out as those bond yields drift upwards April 5, 2010 Something very interesting is happening in the bond market these days, and, yes, it has to do with the enormous amount of bonds that are being issued by governments. In one word, it can be described as distortion. For a very long time, even with the knowledge that budget deficits were ballooning from government overspending, [...]