Six parties in Lloyds talks for branches July 24, 2011 LLOYDS is in talks with six interested parties over the sale of its 632 branches, City A.M. understands, despite only two of them having submitted formal bids so far. However, some of those involved are only interested in chunks of the £68bn in assets on sale, which could prove a headache for regulators who want [...]
OLYMPIC SURGE FOR EAST LONDON HOMES July 24, 2011 HOUSES in east London have seen their value rise by an average of £192 per week or 28 per cent since London won its bid for the Olympic Games in 2005, Lloyds TSB announced today. Yet the main price spikes were in Homerton, Dalston and Bethnal Green, while price increases around the Stratford site have [...]
FTSE gains fuelled by Eurozone deal July 22, 2011 The FTSE 100 tracked other global markets upwards as the sealing of a second bailout for Greece produced a collective sigh of relief from investors, governments and financial institutions. Leaders of the Eurozone threw a lifeline to debt-stricken Greece that includes an extra €109bn of government money as well as a significant contribution from private [...]
Beazley reports loss after quake pay-outs takes toll July 22, 2011 Lloyd’s of London insurer Beazley said it sank to a loss in the first half of the year after taking a $183m (£112m) hit from natural disasters including the Japanese earthquake. Beazley, the first listed Lloyd’s insurer to report interim results, made a pretax loss of $24.2m over the six months of 2011, compared with [...]
FTSE steadied by Greek breakthrough July 21, 2011 The FTSE 100 started solidly this morning as it emerged that France and Germany had reached an agreement on a second bailout for Greece. Banks led the way as investors gained confidence in stocks recently buffeted by fears of exposure to the debt crisis which has engulfed the Eurozone. Leaders of the 16-country bloc will [...]
RICE KING’S SHARWOODS BID GOES OFF THE BOIL July 19, 2011 THE RETAIL industry has been on tenterhooks over the last month to see whether rice tycoon Moni Varma, the chairman of Veetee Food Group, would succeed in expanding his processed foods empire by buying Sharwoods from Premier Foods. However, The Capitalist can reveal that Varma’s audacious bid for the sauces manufacturer is no longer likely [...]
Banks lead FTSE fight back July 19, 2011 The FTSE 100 fought back on opening today with banks recovering some of the ground they lost yesterday after the Eurozone debt crisis and US economic uncertainty sapped confidence. Following a grim session the financial sector found its feet today, clawing back losses which were partly triggered by analysts criticising European bank stress tests. Barclays [...]
When it makes sense for the Top Dog to pitch July 18, 2011 FEW need reminding how treacherous current conditions in Europe’s equity markets are. Russia’s Valinor recently became the 25th pulled listing in Europe, Middle East and Africa so far this year and a 15 per cent downwards repricing of the Spanish bank Bankia yesterday underlined the fragility of investor appetite for new issues. So it is [...]
Cowdery tables first-round bid for 630 Lloyds branches July 17, 2011 ENTREPRENEUR Clive Cowdery, founder of insurance consolidator Resolution, has lodged a first-round bid for 630 Lloyds Banking Group branches being sold to appease competition regulators, it is understood. He is pursuing the branches through a Guernsey-based company which advises London-listed Resolution on acquisitions, rather than through Resolution. Resolution declined to comment. Cowdery, who has a [...]
FTSE on back foot as bank stress tests loom July 15, 2011 The FTSE mirrored markets across Europe in early trading as investors awaited the results of bank strss tests with some lenders expected to fail to meet the criteria required. With persistent fears over the Eurozone debt crisis and the threat of a US rating downgrade casting a shadow market sentiment was tepid. European shares overall [...]