Banks commission small business credit research
6th Sep 2010 17:01
The biggest British banks have commissioned a report that will profile the creditworthiness of their small business customers. The banks hope the report will head off criticism of their lack of lending. The banks argue that they are only turning away the risky proposals but small business organisa
Read moreLondon close: Footsie tops up gains
6th Sep 2010 16:50
Footsie consolidated last week's strong performance with another day of gains, though trading was subdued with the US closed. Telecoms group Cable & Wireless Worldwide was the best performer on a weekend report Singapore Telecom is eyeing up the telephony group. Bid speculation also buoyed Home R
Read moreLondon afternoon: Bid talk enlivens subdued session
6th Sep 2010 14:07
Leading shares remain moderately firmer on balance, but with the US markets closed and with a paucity of corporate news in the UK to get the juices flowing, trading is subdued. Telecoms group Cable & Wireless Worldwide is the best performer on a weekend report Singapore Telecom is eyeing up the tel
Read moreLondon midday: Languid London ambles higher
6th Sep 2010 12:15
Footsie finished the morning in positive territory, raising hopes that the blue-chip index can add to its run of five days of rises in succession. It was a quiet morning, however, possibly reflecting the fact that US markets will be closed for the Labour Day holiday today. Telecoms group Cable & W
Read moreMonday newspaper round-up: British Airways, Income tax, Prudential...
6th Sep 2010 06:44
Willie Walsh has identified 12 airlines as potential acquisition targets once he completes the merger of British Airways and Iberia this year. The BA chief executive said that he had held discussions with executives of the Spanish flag carrier about future acquisitions, as he seeks to lead a wave o
Read moreHSBC could leave UK if forced to split
3rd Sep 2010 07:23
HSBC has joined other banks in warning it could leave the UK if the Commission on Banking recommends the break-up of the country's major banks. In much more explicit comments than its rivals, Stuart Gulliver, the head of HSBC's investment banking business and a possible future chief executive of th
Read moreFTSE 100 movers: TUI continues downward journey
11th Aug 2010 15:39
There are few risers in the Footsie as TUI Travel continues to head the fallers. Package holiday firm Thomas Cook followed up yesterday's disappointing trading statement by TUI with one of its own. Thomas Cook warned that full-year profits will be at the low end of forecasts due to softer UK booki
Read moreLondon afternoon: No sign of rally yet
11th Aug 2010 13:57
Expectations of a weak start on Wall Street have put the kybosh on any hopes of a recovery in London over the lunch time session, after leading shares endured a tough morning in the wake of downbeat statements from the Federal Reserve (last night) and the Bank of England (this morning). The Bank of
Read moreAxe to fall on BarCap staff
11th Aug 2010 11:59
The investment banking business of Barclays is preparing to sack several hundred staff in reaction to a sharp downturn in activity during the second quarter. Back office and administration jobs at Barclays Capital (BarCap) are most likely to disappear, people close to the action have said. Numbers
Read moreWednesday newspaper round-up: US economy, Barclays, Online fraud
11th Aug 2010 06:38
The Federal Reserve warned last night that America's recovery was losing steam as it announced a shift in its economic stimulus programme. The American central bank said that it would re-invest money from its portfolio of maturing mortgage bonds into longer-term government debt in an effort to sup
Read moreFTSE 100 movers: Schroders moves higher
9th Aug 2010 15:31
The rising stock market and last week's strong interim figures have made fund manager Schroders the best performer in the Footsie. Funds under management were £164bn at the end of June 2010, up from £148.4bn at the end of 2009. Legal & General and Barclays - the shares go ex-dividend on Wednesday
Read moreFriday newspaper round-up: Royal Bank of Scotland, Wheat, Barclays
6th Aug 2010 06:32
Royal Bank of Scotland is today expected to announce the sale of the UK's leading credit card payment processing business to private equity in a £2bn ($3.18bn) deal expected to generate an £800m to £900m book gain. People close to the transaction said RBS hoped to announce the sale of its Global Me
Read moreLondon close: Footsie finishes lower
5th Aug 2010 16:56
Blue chips closed lower on a mixed day for company results. Insurers rose on the back of figures from Aviva and RSA, but banks slipped back on Barclays' numbers. Disappointing unemployment data from the US also undermined confidence, while the decision from the Bank of England and ECB to keep inter
Read moreLondon afternoon: Insurers in demand
5th Aug 2010 14:23
Company results have divided opinion in the market today leaving the FTSE 100 in a mixed-up mood, while second-liners make decisive headway. Insurers are doing their bit to push the market higher with Aviva and RSA Insurance both firmer after releasing figures. Aviva reported a better-than-expect
Read moreLondon midday: Footsie stays strong after rally
5th Aug 2010 12:32
Footsie seems to have stabilised in positive territory amid a mixed reception for today's deluge of company updates. There were no surprises from the Bank of England today as its Monetary Policy Committee kept rates on hold at 0.5%. Insurer Aviva is currently the best performer after it reported a
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