Share price is undervalued, says Diamond October 4, 2011 THEY could not have timed it any better – or should that be any worse? Some of the biggest names in banking came together in London yesterday as industry shares fell over fears politicians are failing to tackle the Eurozone crisis. Bob Diamond, chief executive of Barclays, told the Bank of America Merrill Lynch conference [...]
Land Sec gets planning for St Paul’s build October 4, 2011 LAND Securities, the UK’s biggest commercial landlord, has secured planning consent for a new mixed office and retail development near St Paul’s Cathedral in the City of London. The 250,000 square foot scheme will replace three existing buildings on the corner of Shoe Lane and Little New Street with cafes, restaurants and premium office space [...]
Greek crisis saps market confidence October 3, 2011 Banks were the biggest fallers across Europe on opening this morning after Greece admitted it will not meet 2011-2012 deficit targets imposed by international lenders as part of the country’s bailout. The sector was down 3.7 per cent on the pan-European FTSEurofirst 300 index, illustrating the problem for financial institutions saddled with burden of the [...]
WHAT THE OTHER PAPERS SAY THIS MORNING October 2, 2011 FINANCIAL TIMES BTG GAINS TOP BANKER AS IT EYES EXPANSION Roger Jenkins, the high-profile former Barclays executive, has joined BTG Pactual as a managing partner as Brazil’s largest independent investment bank and asset manager gears up its ambitious expansion plans. Jenkins, a star banker best known for orchestrating a £7bn fundraising for Barclays from Middle [...]
FTSE falls on worries of China and copper losing momentum September 29, 2011 BRITAIN’S leading share index fell back yesterday, bucking firmer trends from both US and European equity markets and under pressure from big falls by heavyweight miners on lower copper prices amid concerns over future demand. Traders highlighted some anxiety over growth from major metals consumer China ahead of official September PMI numbers, due out on [...]
NBNK confirms bid for Lloyds branches September 29, 2011 New British bank venture NBNK has submitted a second-round bid for some 630 Lloyds bank branches, NBNK confirmed which sources saying it could be worth £1.5bn. The auction — codenamed “Project Verde” — offers a chance to create Britain’s seventh-biggest bank in one fell swoop. The sale includes 4.6 percent of personal current accounts and [...]
UK HOME-BUYERS NOT PUT OFF BY DOWNTURN September 27, 2011 ECONOMIC gloom might be hitting retail sales, but bigger spending plans are still on track, according to a report from Santander out today. Eight per cent of Londoners intend to buy a house in the next year, while 31 per cent – the highest proportion in the country – plan to buy in the next [...]
World stocks bounce back on Eurozone hopes September 27, 2011 The FTSE 100 tracked gains in Asia overnight as the mining sector – which has taken a battering over world economic growth fears – bounced back. World stocks rose for a third straight session with European shares up two per cent early on, as investors took comfort from reports that officials were working to add [...]
Debenhams profits to beat forecasts September 20, 2011 DEBENHAMS said yesterday it expects profits to beat forecasts despite flat sales in the year to 3 September. Sales – excluding the effects of new store openings and the VAT rise – fell 0.3 per cent over the year, the company said. However, group like-for-like sales rose by 0.4 per cent in the last nine weeks [...]
Burberry up after debut of collection September 20, 2011 BURBERRY shares rose yesterday in a boost fuelled by a positive reaction to its new collection unveiled at London Fashion Week. The stock was up around 3.7 per cent after images from the luxury retailer’s catwalk show – attended by the likes of actresses Sienna Miller and Gemma Arterton – were beamed across the world. The [...]