UAE’s Axiom sells 35pc stake to Qatar’s Mannai June 16, 2011 AXIOM Telecom has sold a 35 per cent stake to Qatar’s Mannai Corp for an undisclosed amount after deciding against a London share listing, the Dubai-based mobile phone retailer said yesterday. The sale follows Axiom’s aborted initial public offering (IPO) last year, when it planned to list on the Nasdaq Dubai exchange by selling up [...]
CITY MOVES | WHO’S SWITCHING JOBS June 16, 2011 Dalton Strategic Partnership The investment manager has appointed Keith Busuttil as an analyst on the European Absolute Return equities team, based in London, where he will work on the Melchior European equity long short strategies. Busuttil joins DSP from The Blackstone Group, where he was vice president in the European Debt Restructuring team. Prior to [...]
FTSE tumbles as Greek crisis prompts flight from equities June 16, 2011 BRITAIN’S top shares fell sharply yesterday as fears over the global recovery and a contagion impact from the Greek debt crisis prompted investors to sell out of riskier assets such as commodity stocks. The FTSE 100 ended down 43.74 points, or 0.8 per cent, at 5,698.81, back at levels last seen after the Japanese earthquake, [...]
Chancellor right that banks must be allowed to fail June 15, 2011 IT is a shame that much of the City will be focused on the crisis in Greece and its repercussions on global markets this morning, for there were some surprisingly good ideas on banking regulation at Mansion House last night. There was a clear shift in attitude on display: the chancellor’s pronouncements were by far the [...]
Banks and politicians must unite on Brussels June 15, 2011 WHAT do you think of when you think of Brussels? Incomprehensible bureaucracy? Plush expenses for MEPs? The greatest peace time project since the Second World War, bringing peace, prosperity and harmony to Europe’s grateful hordes? Or delicious delirium-inducing Trappist ales? Mine’s a Chimay Bleue, please. The chances are you don’t think about Brussels a lot. [...]
Weak banks help drive FTSE to three-month closing low June 15, 2011 BRITAIN’S top shares ended lower yesterday, weighed down by banks on worries over the UK government’s drive for tougher regulation and Europe’s debt crisis, while commodity stocks also pressured the index. The FTSE 100 closed down 60.58 points, or 1.0 per cent, at 5,742.55, its lowest finish since March 18. Banks fell ahead of chancellor [...]
Broadgate victory is great first step June 15, 2011 IT is merely a small, symbolic victory in a much bigger battle against red tape but it is great news that Jeremy Hunt will today announce that he won’t be listing Broadgate Estate, as we reveal on our front page. English Heritage’s indefensible bid to protect this unexceptional complex around Liverpool Street station, built in [...]
BUREAUCRATS LOSE BROADGATE BATTLE June 14, 2011 VICTORY FOR CITY A.M. CAMPAIGN CULTURE secretary Jeremy Hunt will not save the Broadgate estate from demolition, City A.M. can reveal, marking a victory for our campaign against bureaucrats that wanted to protect the site. Hunt is expected to announce today that he is rejecting advice from conservation body English Heritage, which recommended that the [...]
Broadgate victory is great first step June 14, 2011 IT is merely a small, symbolic victory in a much bigger battle against red tape but it is great news that Jeremy Hunt will today announce that he won’t be listing Broadgate Estate, as we reveal on our front page. English Heritage’s indefensible bid to protect this unexceptional complex around Liverpool Street station, built in [...]
HSBC sells Russian consumer banking division to Citigroup June 14, 2011 HSBC has agreed to sell part of its Russian retail banking business to Citigroup in a deal valued at around $10.7m (£6.5m). The British bank said in April that it would quit its Russian retail operations, becoming the latest in a string of international lenders to pull the plug on consumer banking in the country. [...]