ANALYST VIEWS: HOW WILL BOB DIAMOND FIT IN AS CHIEF EXECUTIVE? September 7, 2010 NEIL SHAH | EDISON INVESTMENT RESEARCH “It’s a great example of succession planning as far as I’m concerned. He’ll be in a different position as chief executive, though, and he will probably be more measured in his approach. Where he was before and where he’s going to now are different and he’ll probably be operating [...]
Two staunch defenders of the banks make it on to City A.M.’s inaugural awards shortlist August 30, 2010 TWO personalities who have fought steadfastly for the interests of banks have made it onto the shortlist to win City A.M.’s personality of the year, one of the biggest prizes at October’s City A.M. awards. Mayor of London Boris Johnson was chosen for springing to the defence of the banks in the aftermath of the [...]
Bank told to explain powers August 30, 2010 THE Bank of England (BoE) needs to spell out to consumers what its powers to curb lending will mean for products such as mortgages, the British Bankers’ Association said yesterday. When it inherits the remit of City regulation from the Financial Services Authority in two years’ time, the BoE will be tasked with macroprudential oversight [...]
PERSONALITY OF THE YEAR August 30, 2010 IT’S been another tough year in the City. Stock markets are still nervy, the recovery is by no means secure and a double-dip is on many people’s cards. But it is hard times that form characters. Our five nominees for Personality of the Year have proved their mettle over the past 12 months. One is [...]
S&P CASTS DOUBT ON BANK REVIVAL August 26, 2010 RATING agency Standard & Poor’s (S&P) cast doubt on the strength of the UK banking sector’s recovery yesterday, saying lenders had been buoyed by a rising economic tide. The claim, made after this month’s bumper first-half earnings season, was immediately rebuffed by banking industry figures. While institutions realise they have been helped by an improving [...]
Why your dream home may just be up in Scotland’s northern reaches August 26, 2010 THE number of holiday homes in the UK is on the rise, according to research by Knight Frank. After declining in 2008, the number of British second homes swelled 2.6 per cent last year and is set to rise another 2 per cent this year. So with demand once again on the up, buyers should [...]
BHP bid to hit investor vote hurdle August 24, 2010 BHP BILLITON will be forced to put its hostile bid for PotashCorp to a shareholder vote if it increases its original $40bn (£25.5bn) offer in order to win over the Canadian company’s investors. According to Financial Services Authority rules, BHP will have to put its proposed takeover of PotashCorp in the hands of its own [...]
POTASH IN TALKS TO BLOCK BHP BID August 23, 2010 CANADIAN fertiliser producer PotashCorp is courting a range of potential “white knight” partners in a determined attempt to see off a $40bn (£25.5bn) hostile bid from mining giant BHP Billiton, the company confirmed yesterday. The world’s largest potash producer said it had been approached by and had initiated contact with a number of third parties, [...]
PotashCorp hunts for a white knight August 23, 2010 THIS is shaping up to be a classic takeover wrangle. First came the unsolicited bid – at $39.6bn (£25.5bn), BHP Billiton’s offer is a 20 per cent premium to PotashCorp’s undisturbed share price – which was immediately knocked back. Then came the anguished rhetoric from PotashCorp about the “grossly inadequate” level of BHP’s approach. The [...]
BHP FACES RISING BID DISCONTENT August 22, 2010 MINING giant BHP Billiton could be left with a diplomatic crisis on its hands if it does not move swiftly to address growing investor disquiet over the cost of the company’s mammoth $40bn (£26bn) hostile bid for Canadian fertiliser giant PotashCorp. BHP will this week attempt to calm shareholder fears at a gruelling series of [...]