Qataris make millions from Barclays sale October 20, 2009 GULF state vehicle Qatar Holding yesterday offloaded half of its share warrants in Barclays, netting the bank’s biggest shareholder a fast profit of over £600m. Qatari investors, who still hold a direct shareholding of over seven per cent in Barclays, were issued with the warrants last November at a subscription price of 197.775p, as part [...]
ARE THE QATARIS SIGNALLING THAT THE RECENT RALLY IN BARCLAY’S SHARE PRICE IS OVER BY SELLING UP? October 20, 2009 KEITH BOWMAN HARGREAVES LANSDOWNI would say that the temptation to book over $1bn in profit became too great to ignore. Particularly set against a backdrop of similar funds that lost out on what they thought were bargain banking stocks before the crisis. It is a great opportunity to take profit but still keep a stake. [...]
FTSE hits a high but sale of Barclays shares prompts dip October 20, 2009 Britain’s top shares fell 0.7 percent yesterday, led down by banks after Qatar sold shares in Barclays while weaker-than-expected US data added to the negative sentiment. The benchmark FTSE 100 closed down 38.14 points at 5,243.40, having hit a fresh high for the year at 5,298.54 earlier in the session. Barclays fell 4.8 per cent [...]
BSM ties up with Barclays October 19, 2009 The British School of Motoring (BSM) and Barclays Commercial Bank yesterday announce a landmark financial partnership. Barclays will embark on a four-year funding line for the award-winning Fiat 500, which was recently announced as the new fleet vehicle for the driving school. The deal will see Barclays Commercial Bank funding a significant percentage of the [...]
FTSEgiven boost by strong gains in energy and mining October 19, 2009 Britain’s top shares added 1.8 per cent yesterday, lifted by gains in miners and energy issues as commodity prices rose on an improved demand outlook and investors looked towards further earnings news from the United States. The FTSE 100 ended 91.30 points higher at 5,281.54, a new peak for 2009 on the 22nd anniversary of [...]
Why Boris is wrong to attack the City October 19, 2009 UNTIL now, I thought that Boris Johnson understood how the City works. Now, however, I’m not so sure: yesterday, he said he understood why so many people view Goldman Sachs “as a giant vampire squid wrapped around the face of humanity”. The reason? Because, says Boris, “instead of planning to hand out gigantic bonuses to [...]
Barclays’ Diamond snubs top job interview with Bank of America October 19, 2009 BARCLAYS Capital president Bob Diamond snubbed an opportunity to be interviewed for the top job at Bank of America (BoA), City A.M. can confirm. Diamond was approached by BoA’s board and asked if he would be interested in replacing outgoing chief executive Kenneth Lewis. But he refused because “he’s got a great opportunity where he [...]
Myners angry at banks as bonus row escalates October 18, 2009 CITY minister Lord Myners yesterday expressed his anger at large banking bonuses, as speculation around future compensation at UK banks threatened to cause the government further embarrassment. Speaking on the BBC’s Andrew Marr show, Myners said: “We are simply not going to tolerate high levels of remuneration which are not justified and earned. The nation [...]
BANKS FACE THREAT OF TAX BOMBSHELL October 18, 2009 THE government risks driving droves of companies overseas and losing out on billions in revenues if it goes ahead with imposing a stricter tax regime on the banking sector, the City warned yesterday. The stark warning from City leaders came as it emerged that the government is considering a sweeping change to the fiscal burden [...]
WHAT THE OTHER PAPERS SAY THIS MORNING October 18, 2009 THE SUNDAYSThe Sunday Telegraph £5.5BN PLAN FOR POWER STATIONA £5.5bn planning application, the largest ever in central London, will be made today when Ireland’s Real Estate Opportunities and Treasury Holdings reveal their blueprint for the redevelopment of Battersea Power Station. Plans for the mixed commercial and residential site, which developers say will be as iconically [...]