Don’t wait to fix Europe’s banking woes
A week ago the German finance minister, Wolfgang Schäuble, wrote in a spirited Financial Times opinion piece of the need for a “two-step” approach to European banking union. Given the…
Financial services: Management of harsh news shields reputation in tough times
Nearly five years after the collapse of Lehman Brothers, the US investment bank, financial services companies are still battling to restore their reputation. Just as one crisis passes another seems…
Riverstone eyes $1bn commodities venture
US private equity group Riverstone is leading talks on an investment of as much as $1bn in a new commodities investment venture to be run by a former Deutsche Bank…
Gulf funds bypass private equity funds
Middle East sovereign wealth funds are boosting their investment in unlisted companies and increasingly bypassing private equity funds as they seek higher returns. Sovereign wealth funds in the region, which…
PPF warns of levy increase
The Pension Protection Fund (PPF) – the statutory safety net underpinning employers’ pension promises – has warned that it might be forced to increase the levy it collects from schemes…
Goldman sells final $1.1bn stake in ICBC
Goldman Sachs is selling its remaining stake in Industrial and Commercial Bank of China, exiting an investment that has made more than $7.3bn for the US investment bank, its private…
Qataris bank on gaining key stronghold
It is four years almost to the day since Nader Shenouda and Asar Mashkoor walked into the offices of Panmure Gordon in London’s Moorgate and signed a £23m cheque to…
Qatar snaps up stakes in key lenders
©Reuters Qatar is launching another multi-billion dollar push into the banking sector, buying fresh stakes in Russia’s VTB and Germany’s Deutsche Bank. The Qatar Investment Authority, the principal fund responsible…
Investors vote in Dimon ‘referendum’
Shareholder activists targeting JPMorgan Chase were talking down the prospects of winning a vote to install an independent chairman at the bank ahead of Tuesday’s annual meeting. However, investors demanding…
GE finance arm to pay $6.5bn dividend
General Electric’s financial services division is paying a dividend of $6.5bn to its parent company, in line with a plan the conglomerate has set out to shift capital away from…
Robin Hood tax: A long shot
©FT Graphic Robin Hood’s modus operandi was simple and, thanks to Hollywood, is still universally understood. When the financial crisis tipped the global economy into a steep downturn, the English…
Biotech surge powers ETF inflows
Investor inflows into exchange traded funds tracking the biotechnology sector have surged as the share prices of biotech companies make a record breaking start to 2013. The eight ETFs listed…
Elan steps up fight against Royalty bid
Royalty Pharma, the US private equity group, stepped up the pressure on Elan with an improved $12.50-a-share cash offer, after the Irish-based pharmaceutical business unveiled fresh debt and acquisition plans…
EM company borrowing costs tumble
The cost for emerging market companies to borrow in dollars from the bond market has fallen to a record low as central bank intervention stokes investor demand for riskier and…
Essar Oil to trade fuel for Chinese loans
©Dhiraj Singh The son also rises: Prashant Ruia is the second generation to lead the family-run group India’s Essar Oil, a division of London-listed Essar Energy, is set to announce…