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 [...]
The ingenuity behind Burberry’s magic fashion touch September 20, 2011 LIFESTYLE EDITOR DESPITE the possible onset of another recession, the world cannot get enough of Burberry. With its share price up by four per cent after it unveiled its new collection at London Fashion Week yesterday, it is clear that the brand is doing something very, very right. So what’s its secret? Everyone likes a nice rain-resistant [...]
WHAT THE OTHER PAPERS SAY THIS MORNING September 19, 2011 FINANCIAL TIMES SIEMENS SHELTERS CASH AT ECB Siemens withdrew more than half a billion euros in cash deposits from a large French bank two weeks ago and transferred it to the ECB, in a sign of how companies are seeking havens amid Europe’s sovereign debt crisis. The German industrial group withdrew the money partly because [...]
We need banks to fail more often – not less September 19, 2011 THE Independent Commission on Banking (ICB) has spoken, but not too loudly and with no real urgency. Even if its main recommendations are eventually adopted (such as ring-fencing the retail and investment arms of banks and raising capital requirements), few people feel that this will fix the banking sector’s problems. Even if these measures work, [...]