FT.com financial services feed
The banking resurgence that could yet lead to a fall
Banks have regained their pricing power, yet storm clouds loom in the shape of a multitude of regulatory probes that could cut them down to size, writes Mark Kleinman
Categories: Financial services
Auditors' role in crisis under scrutiny
The Financial Reporting Council will look into the lessons learnt from the credit crisis with the launch of a new inquiry into the audit and accounting profession's work with non-financial companies
Categories: Financial services
Nokia Siemens seeks private equity boost
Blackstone and TPG are among those in talks with NSN, the joint venture, about investing $1bn for a minority stake in the mobile infrastructure company
Categories: Financial services
BP move forces trusts to reduce returns
Investment trusts are being forced to cut pay-outs or dip into their reserves to fill the hole left by the suspension of BP's dividend
Categories: Financial services
Wyly brothers charged over 'undisclosed $550m'
US regulators charged Samuel and Charles Wyly, two billionaire brothers whose interests range from software to restaurants, with reaping more than $550m in undisclosed gains by trading shares in companies on whose boards they sat
Categories: Financial services
Fed reports paper profit on Bear and AIG bail-outs
The US public's hope of getting repaid for the bail-outs of Bear Stearns and AIG in the financial crisis increased on Thursday after the Federal Reserve reported a paper profit for the first time on all the holdings of securities bought from the companies
Categories: Financial services
UK group buys Barcelona marina for €30m-plus
Salamanca said it aimed to increase the capacity of the marina to house more than 45 super yachts of more than 50 meters in length
Categories: Financial services
Oaktree in bid to counter Almatis restructuring
The US buy-out fund is readying a counter-proposal for a restructuring of the German alumina business, in a last ditch attempt to wrest control from Dubai International Capital
Categories: Financial services
Sharp fall in lending to UK financial sector
Bank lending to the industry is at its lowest for at least a year following a very sharp drop in June, data from the Bank of England show
Categories: Financial services
New thinking is key to opening door of Big Four
The UK's House of Lords is the latest body to open an inquiry into the part that accountancy firms – especially PwC, Ernst & Young, KPMG and Deloitte – played in the financial crisis, says Rachel Sanderson
Categories: Financial services
Lloyds to retain stake in St James's Place
The wealth management group, which reported strong growth in first-half figures to June 30, said Lloyds had committed to keeping a majority shareholding
Categories: Financial services
Virgin Money delays bank debut
The financial services arm of Sir Richard Branson's Virgin Group has postponed its launch into mainstream banking, marking a setback to hopes for more retail banking competition
Categories: Financial services
Ex-GE Capital executives charged with fraud
Dominick Carollo, Steven Goldberg and Peter Grimm are accused of conspiring to rig bids in the $2,800bn municipal bond market from 1999 to 2006
Categories: Financial services
Buy-out groups in $850m HGI deal
Goldman Sachs Capital Partners and Clayton, Dubilier & Rice will acquire the provider of mail-order medical products from the Chicago-based Jordan Company and the Harrington family
Categories: Financial services
Private equity rejects criticism by think-tank
The Private Equity Council rebuffs claims from a London think-tank that it has produced disappointing average returns by presenting its own evidence that it has outperformed public markets
Categories: Financial services
Permira complete first buy-out for a year
The private equity house has acquired online travel group eDreams in a deal worth €250m-€300m
Categories: Financial services
German finance thriller set for fresh plot twists
With the legal representatives of small investors threatening to challenge the banks about their role in Helmut Kiener's system, new details look set to emerge in the coming months
Categories: Financial services
Banks face lawsuits over alleged Ponzi scheme
Investors who lost millions in an alleged German Ponzi scheme are threatening legal action against Barclays, HSBC and Rabobank, alleging that the banks may have acted irresponsibly
Categories: Financial services
Soros set to buy stake in Bombay exchange
Billionaire investor in final talks to buy Dubai Holding's 4 per cent stake in manager of Indian benchmark Sensex index
Categories: Financial services
Credit card arm boosts Provident Financial
A resilient performance by its credit card division helps the subprime lender report a pre-tax profit of £54m in the first six months as customers remain cautious about taking on more debt
Categories: Financial services
The Bottom Line: A political masterclass in negotiation
"Some expert politicking and negotiation on the part of Nick Clegg and his team resulted in the new coalition government. Reed Finance's Lynsey Rattigan advises on how to brush up on your own workplace bargaining tactics to your career advantage."