Barclays set for a bonanza February 15, 2010 BARCLAYS is preparing to give a boost to the banking industry tomorrow, when it is expected to kick off the UK bank reporting season by announcing a bumper £11.2bn profit haul. The figure includes a £6.2bn one-off profit on the sale of its asset management arm Barclays Global Investors to BlackRock last year – a [...]
SPREAD BET GURU February 14, 2010 Q.Dear Josh, what should I keep an eye out for this week when trading equities? A.We are getting stuck in to the UK earnings season now and there are a number of firms announcing this week, including Barclays, Intercontinental Hotels, BAE Systems and the miner Anglo American. Barclays will be the major focus because it [...]
THE TIPSTER PROFIT FROM THE SELL-OFF AND BUY CHEAP February 14, 2010 A STRONGER dollar and concerns about the global economic outlook have caused a pullback in commodity prices in recent weeks. This has put downward pressure on the shares of oil majors such as BP and Shell, which have both fallen 10 per cent since 12 January. By buying these at current levels, you are getting [...]
BT has £9bn pension hole February 11, 2010 BT yesterday revealed a yawning pension deficit of £9bn. Shares in the company – which now has the biggest pension deficit in the private sector – nose-dived as the extent of the black hole was revealed. The firm announced an agreement with trustees to pay back the vast sum over 17 years, adding £525m into [...]
Sir Win Bischoff adds reinforcements to the board at Lloyds Banking Group… February 11, 2010 LLOYDS Banking Group yesterday appointed two new non-executive directors, the first board appointments since Sir Win Bischoff became chairman of the reviving institution. Glen Moreno, the current chairman of Pearson, becomes the group’s senior independent director. Moreno has significant experience in the banking industry, having held a number of positions at Citigroup between 1969 and [...]
Banks suffer as concerns over their Greek exposure weigh February 11, 2010 BRITAIN’S top share index closed 0.6 per cent higher on Thursday, as gains in commodities outpaced falls in banks, which remained mired in uncertainty over Eurozone’s plans to deal with Greece’s debt problems. BT Group slumped 8.8 per cent, topping the losers’s list on the FTSE 100 and hitting a more than six-month low after [...]
Possible solution to Eurozone debt woes boosts FTSE 100 February 10, 2010 BRITAIN’S leading shares added 0.4 per cent yesterday as financial issues drew strength from a possible solution to Eurozone debt worries, offsetting a retreat by heavyweight commodity shares. The FTSE 100 ended 20.15 points higher at 5,131.99, recovering from a session low of 5,105.30 in the afternoon but still well below the morning peak of [...]
CITY MOVES | WHO’S SWITCHING JOBS February 10, 2010 Collins Stewart Christian Redman has joined the investment banking group’s wealth management division, Collins Stewart Wealth Management, as an associate director. Redman joins from Barclays Wealth, where he was responsible for managing over £450m on behalf of private clients across multiple asset classes. He has worked at Gerrard (now part of Barclays Wealth) since 1986, [...]
Sunaga leaves Barclays Japan February 10, 2010 Hideaki Sunaga, Barclay’s co-head of investment banking, has resigned after just one year. Sunaga, who was at Nomura for 20 years, had been brought in to expand Barclays investment banking business in Japan – which he co-lead with Takemi Ando. Barclays declined to comment and it is unclear when Sunaga will be leaving.
Despite its fiscal weakness, dollar remains attractive February 9, 2010 THE US dollar has staged an impressive rally against the euro and sterling. The US is benefiting from safe haven flows as investors ditch the euro over fears of a sovereign debt crisis for Greece that could spread to Portugal, Spain and even to the UK. But are the US’s finances actually any better than [...]