MUFG buys RBS project finance book November 15, 2010 BANK of Tokyo-Mitsubishi UFJ said yesterday it had agreed to buy a project finance loan book owned by Royal Bank of Scotland (RBS) for £3.8bn. Earlier this month City A.M. reported RBS had entered into talks with the subsidiary of Japan’s Mitsubishi UFJ (MUFG) Financial Group over the possible sale of the book which includes [...]
WHAT THE OTHER PAPERS SAY THIS MORNING November 14, 2010 FINANCIAL TIMES LLOYDS TO SPIN OFF BUY-OUT ARM The private equity arm of Lloyds Banking Group has for the first time outlined plans for the UK’s most prolific buy-out investor to spin off from its banking parent. Darryl Eales, chief executive of Lloyds TSB Development Capital, said it was expected to start raising money from [...]
BP’s Hayward starts energy consultancy November 14, 2010 FORMER BP chief executive Tony Hayward has set up his own business, understood to be an energy consultancy, as he rejoins the business world following his departure from the oil giant. Hayward set up 3E Capital on 28 October, papers filed at Companies House show. He lists Deloitte’s office in London as the company’s registered [...]
HMV lifted by Russian buyer November 10, 2010 HMV Group saw its shares rise yesterday after Russian billionaire Alexander Mamut upped his stake to above three per cent. The company’s stock had slumped 49 per cent this year as the DVD and CD seller, which also owns Waterstones, hit tough times. HMV has been moving into live music events and venues as it [...]
THREE OTHER FIRST-RATE STEAKHOUSES November 8, 2010 GOODMAN – MAYFAIR AND CITY With a cultish following at its Mayfair restaurant, only the best cuts of beef need apply at this Russian-owned New York-style steakhouse. Beef is aged in a room on-site and served in a multitude of cuts, all cooked on a charcoal grill. A stylish, atmospheric interior and good drinks have [...]
Eurofighter leading race November 7, 2010 THE EUROFIGHTER consortium, made up of Britain, Germany, Spain and Italy, is leading the race to win a £7bn deal to supply 126 Typhoon fighter jets to the Indian Air Force. The deal would create 2,000 new jobs in Britain. The Typhoon, produced by Britain’s BAE Systems, Italy’s Finmeccanica and pan-European aerospace firm EADS, topped [...]
Turbans and tiaras: inside India’s luxury rolling palace November 7, 2010 HOW do you look in a bindi and turban, with a garland of flowers round your neck? I didn’t know either, until I found myself in some gardens outside Jaipur, the third stop on our week-long but epic journey through Rajasthan on India’s most luxurious train. The answer, for me, was really quite good (see [...]
Russia in talks for Potash bid November 5, 2010 A RUSSIAN group said yesterday it was in intensive talks ahead of launching a rival bid for Potash Corp, as BHP Billiton said its blocked $39bn (£24.7bn) bid for fertiliser group Potash Corp was not dead and pledged to work with the Canadian government. Phosagro claimed it was in intensive talks with the Russian government [...]
The former City trader aiming for pop stardom November 5, 2010 THERE are plenty of stories about people who escaped the City to get into farming, painting, charity work or plough any number of non-rat race new directions. However, in taking the City worker-to-pop star route, 26-year-old Roxanne Emery is pretty much unique. And refreshingly, the former trader’s change of direction wasn’t even because she wanted [...]
The expat life: a tale of two Swiss cities November 4, 2010 CLEAN, efficient, low taxes and great skiing – Switzerland is quite frankly fantastic. Far from being somewhere you are exiled, it’s the sort of place that you should be begging to be sent. And it could happen to you sooner than you think: punitive taxes in the UK have already forced Brevan Howard amongst other [...]