What the other papers say this morning February 25, 2013 FINANCIAL TIMES Captain Magic conjures hedge launch The glory days of the hedge fund launch may not be entirely over. Raffaele Costa, a flamboyant former GLG partner and self-styled “Captain Magic”, will this week unveil the first fund at his new firm Tyndaris, in what will be one of the boldest start-ups since 2008. Merkel [...]
RBS and Lloyds results look set to show losses February 24, 2013 STATE-BACKED banks Royal Bank of Scotland and Lloyds Banking Group are both expected to announce full-year results this week, with analysts forecasting both lenders will remain loss-making. Investec believes RBS, which will deliver its 2012 figures on Thursday, will announce an attributable loss of £2.2bn for the final quarter – or a £5.6bn loss for [...]
Housebuilder Bovis predicts forecast-beating profits January 18, 2013 Bovis Homes today added to buoyant housebuilder sentiment as it forecast that profit for 2012 would be ahead of market expectations. A 15 per cent increase in legal completions to 2,355 over the year, a five per cent jump in the average sales price to £170,700 and a “significant” increase in profit margins will all [...]
Best of the Brokers January 17, 2013 BARRATT DEVELOPMENTS UBS has raised its target price on the housebuilder from 210p to 250p and maintained its “buy” recommendation after first half results in line with expectations. The broker expects further margin improvements as profit and loss contributions from recent land acquisitions increases, and expects the group to be debt free by 2015. UBS [...]
Barratt to build 1,000 homes as profits increase January 16, 2013 BARRATT Developments yesterday revealed plans to build 1,000 homes in London after acquiring two sites in Southwark and Surrey Quays worth a total of £400m. The UK’s largest housebuilder announced the two projects as it delivered an upbeat forecast for 2013 with operating profit expected to rise 31 per cent to £80m. In a trading [...]
Profit doubles at Barratt January 16, 2013 Pre-tax profit at housebuilder Barratt more than “doubled” over the second half of last year, it said in a trading update today. Barratt Developments, the UK’s biggest housebuilder, said it expected to deliver a 108 per cent jump in pre-tax profit of £45m for the six months to December, up from £21.6m over the same [...]
UK consumer price index is forecast higher January 13, 2013 UTILITY prices are expected to have lifted the UK’s consumer price index (CPI), the household spending index due out tomorrow along with a swathe of housing and retail data. “We expect CPI inflation to have edged up to 2.8 per cent year on year in December from 2.7 per cent, and retail price index (RPI) [...]
City Moves for 7 January 2013 | Who’s switching jobs January 7, 2013 SJ Berwin The law firm has announced the appointment of Steven Fogel to its partnership board and as a non-executive director. He was previously senior partner of Titmuss Sainer, and led the law firm in its merger with Dechert. Fogel then served as managing partner of Dechert’s London office before retiring in June 2012. He [...]
What the other papers say this morning December 19, 2012 FINANCIAL TIMES Greece faces make or break year Next year will be “a make or break” year for Greece’s future as a member of the eurozone, the country’s finance minister has said, warning Europe’s leaders that Athens still faces “the possible risk” of crashing out of the currency bloc. “We can make it next year [...]
City Moves | Who’s switching jobs November 18, 2012 Boost ETP The investment product provider has appointed Richard Kent (right) as head of product operations and Jose Poncela as senior in-house counsel. Kent joins from UBS, where he was a director in its equity and fund-linked derivatives team. He has also worked for Barclays Capital. Poncela has held roles at Nomura International, UBS and [...]