Barclays investment banking boss Rich Ricci steps down
18th Apr 2013 11:32
Barclays said its investment banking boss Rich Ricci will this month retire from the UK bank. His departure ends months of speculation that he would be ousted by new Chief Executive Antony Jenkins as part of a clampdown on executive pay. Ricci, who is one of the highest paid bankers at Barclays, w
Read moreBarclays revises 2012 profits higher after accounting changes
16th Apr 2013 15:19
Banking giant Barclays on Tuesday restated its 2012 financial results, saying that changes to accounting rules mean that last year's profits should have been over half a billion pounds higher. The company released an updated version of its full-year results that take into account the IFRS 10 and IA
Read moreTuesday newspaper round-up: Boston, Barclays, Petrol prices...
16th Apr 2013 06:49
Three people are said to have been killed and over a hundred injured by two explosions near the finishing line of the Boston marathon yesterday. "The White House said the incident would be handled as an 'act of terror'. If confirmed as terrorism, it would be the most dramatic such incident on the ma
Read moreLondon close: Resource-heavy FTSE 100 lifted by slowing Chinese inflation
9th Apr 2013 16:37
Slowing inflation in China and a strong start to the US earnings season by Alcoa boosted the UK's resource-heavy FTSE 100 stock index on Tuesday, with miners leading the surge. Meanwhile, a raft of upbeat economic data from closer to the home lifted sentiment in the UK today, including better-than-
Read moreFTSE 100 movers: Miners get boost from Alcoa and Chinese inflation
9th Apr 2013 14:31
Strong results from mining heavyweight Alcoa and slowing inflation in China were lifting resource stocks in London today, with ENRC, Vedanta, Rio Tinto, EVRAZ and Anglo American all making strong gains. The latter's shares were also lifted after the miner reported it would produce three per cent m
Read moreLondon midday: Miners lead the Footsie higher
9th Apr 2013 11:33
Miners were making impressive gains by Tuesday lunchtime after price rises in China slowed more than forecast in March, increasing hopes that the People's Bank of China will hold off from tightening policy for the time being. Chinese consumer-price inflation slowed to a 2.1% annual rate in March,
Read moreBroker tips: Centamin, FirstGroup, BP...
9th Apr 2013 11:00
Canaccord Genuity has kept its 'sell' rating and 38p target price for Egyptian gold miner Centamin despite the strong first-quarter production figures announced on Tuesday morning, saying that legal issues still remain. The broker said: "Although we would expect shares to be stronger today we think
Read moreBroker snap: Tradenext highlights buying opportunities on recent sterling weakness
9th Apr 2013 10:48
Tradenext has highlighted a list of attractive opportunities on the London stock market given the recent weakness of the sterling pound. "A fall in the value of sterling will further support FTSE100 stocks and earnings, and make it easier for UK companies to sell their products overseas," said Ronn
Read moreFTSE 100 movers: Polymetal rises after strong results
8th Apr 2013 15:28
Precious metals giant Polymetal was a high riser early on after managing to hold back on costs in 2012 despite a strong rise in production. The company also raised its payout ratio to shareholders last year as it reported a 47 per cent jump in adjusted EBITDA. Aberdeen Asset Management was another
Read moreBritain's biggest banks to foot regulation bill
8th Apr 2013 14:41
Britain's biggest banks will be asked to pay more towards the cost of regulating the financial sector under the government's new so-called "twin peaks" system of supervision, Sky News reported Monday. The Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA), which took over r
Read moreBroker snap: Investec upgrades HSBC to 'buy', but prefers StanChart
5th Apr 2013 10:28
Investec has turned more bullish on global banking giant HSBC, upgrading the stock from 'add' to 'buy', but has retained a clear preference for sector peer Standard Chartered (also rated 'buy'). Analyst Ian Gordon said in a research note on Friday that both HSBC and StanChart are expected to delive
Read moreThursday tips round-up: Barclays, Chemring, AstraZeneca
4th Apr 2013 07:20
Yesterday's Salz report into what went wrong at Barclays makes for interesting reading but adds little to the promises which have already been made. Nevertheless, it does shine a light on some problems, such as that of high pay for average performers. In any case, the review will help hold the new g
Read moreThursday newspaper round-up: Bank of Japan, Barclays, IAG...
4th Apr 2013 06:44
The Bank of Japan overnight said it would double its monetary base over the next two years through the aggressive purchase of long-term bonds, 'in a bold policy aimed at ridding Japan of the deflation that has dogged the country for almost two decades', according to the Financial Times. The Central
Read moreSunday newspaper round-up: RBS, Cyprus, Bedroom-tax
31st Mar 2013 16:26
It is understood that Royal bank of Scotland (RBS) will make even deeper cuts to its investment banking wing in an effort to meet the Bank of England's (BoE's) new financial policy committee's (FPC) target. The FPC last week called on lenders to raise 25bn pounds in new capital to offset any potenti
Read moreThursday newspaper round-up: Great Western, BP, Centrica...
28th Mar 2013 06:52
The Telegraph says that four of the UK's largest train operators - Arriva, FirstGroup, National Express and Stagecoach - have dropped lawsuit worth 40m pounds against the government to recover costs during the franchises process for Great Western that was scrapped earlier this year. The Clair proje
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