The pasta is brilliant, but eating at Jamie’s can be a stressful experience August 3, 2009 Jamie’s ItalianUnit 17, 2 Churchill Place, Canary Wharf, E14 5RBTel: 020 3002 5252 Cost per person without wine: £25 THIS is the second of Jamie Oliver’s chain of wallet-friendly eateries to open in London – one opened in Kingston in late 2008, following the first in Oxford – and he couldn’t have chosen a better [...]
CAN BARCLAYS CONTINUE ITS STRONG PERFORMANCE? August 3, 2009 NIC CLARKE CHARLES STANLEY“Barclays has been our most difficult call in the UK banking sector over the last 12 months. Performance in the next 12 months depends not only on whether BarCap can remain as robust as it has been but also importantly on the macro economic strength of the US, UK, Spain and South [...]
BarCap boost sees Barclays profits jump August 3, 2009 BARCLAYS reported an eight per cent increase in first-half pre-tax profit yesterday, as its investment banking arm Barclays Capital (BarCap) extended its first quarter boom. Group profits before tax reached £2.98bn, up from £2.75bn in the first half of 2008, as revenues soared 37 per cent from £11.8bn to £16.25bn. Barclays’ results included impairment charges [...]
Bank chiefs issue warning against regulatory overkill August 3, 2009 BARCLAYS chief executive John Varley yesterday urged regulators not to risk “throttling” economic recovery with overzealous reforms, while HSBC backed up his call for a measured approach. “This industry got many things wrong and there is much to be sorry about. There must be change and there will be change,” said Varley. But he added [...]
WHAT ARE YOUR THOUGHTS ON HSBC’S RESULTS? August 3, 2009 HENK POTTS BARCLAYS WEALTH“Messy numbers, with various accounting changes, but definitely ahead of expectations and sentiment towards the sector continues to improve. Household, the US business which is largely in run-off mode, was the largest source of upside surprise with lower provisions and lower realised losses.” DAVID BUIK BGC PARTNERS“HSBC’s tier one capital stands at [...]
MARKETS SURGE ON BANKING BONANZA August 3, 2009 INVESTORS were cheered yesterday as stocks on both sides of the Atlantic surged on the back of strong corporate and economic news. In the UK, the FTSE 100 index leapt to a 10-month high, closing at 4,682.46 points, its highest level since the collapse of Lehman Brothers last September, while sterling rose on the back [...]
Bank hate is exaggerated and simplistic August 3, 2009 IF WE are to believe most commentators, it is an outrage that Barclays and HSBC were able to report decent profits yesterday. The main reason, apparently, is that there are “fears” that lending remains too tight, and that the dreaded “bonus culture” will return. Needless to say, had the banks reported a collapse in earnings, [...]
Banks gear up to report on the first half of a tough year August 2, 2009 The market’s attention is likely to be dominated this week by the banks, which will be reporting their first-half results during the five days. But there will be plenty more for investors to sink their teeth into, with insurers, bookmakers and industrials all on the radar too. Barclays and HSBC kick the week off this [...]
FTSE set to dip as banks hit spotlight August 2, 2009 MUCH of the rally of the past three weeks has been US earnings-led, but this week we’ll have the chance to see how a range of UK banks’ half-yearly numbers go down. The overall diagnosis is likely to be one of recoveries in profitability, with concerns mounting over soaring bad-loan losses. Two of the likely [...]
KICK OFF AT ESPN UK August 2, 2009 ESPN will today become the first non-UK channel to show Premier League football in the UK, as it launches its ESPN UK channel on Sky and Virgin Media. The channel will show 46 live Barclays Premier League matches – which it bought the rights to after Setanta UK went into administration – plus a selection [...]