LONDON (Reuters) – Spain’s banks are fast joining the ranks of the most unloved in Europe just as many need to raise capital urgently, deserted by investors who believe the country is on the brink of a recession that many lenders will not survive.
The government has ruled out more state aid for a sector that comprises a motley mix of international lenders and heavily indebted local savings banks. That leaves two options: raising private capital or turning to the EU for bailout funds.
LONDON, April 3 (Reuters) – Many European companies are
gambling their long-term financial security with extravagant
dividends and buybacks, betting that banks will resume lending
before their cash runs out.
An increasing coincidence of dividend hikes and cautious
outlooks have made long term investors nervous about how easily
the companies they back will access, and pay for, capital
against a backdrop of economic unease in Europe.
LONDON, April 2 (Reuters) – A raft of un-coordinated reforms
demanded by the United States, the European Union and Britain
threatens to shrink Europe’s investment industry to a handful of
huge players, denting a campaign for lower fund fees and
squeezing investor choice.
After surviving huge outflows triggered by the financial
crisis, fund managers are wrestling with a barrage of new rules
dictating how they attract, manage and earn money.
LONDON (Reuters) – Investors are ramping up bets on equities as risk appetite thrives on abundant liquidity, a Reuters poll has found, but money managers are already wondering how markets will cope when the hangover from the latest debt binge finally hits.
The average exposure to equities in balanced portfolios according to a survey of 14 investment managers jumped 2.8 percentage points to 54.9 percent this month, the highest allocation to the asset class since February 2011.
LONDON, March 22 (Reuters) – Chastened by their failure to
foresee the financial crisis, it’s little wonder that UK
regulators might think a plasterer, among others, unfit to
supervise a bank.
Britain’s Financial Services Authority has halted the 1.5
billion pound sale of 630 Lloyds Bank branches to the
Co-Operative Group, a move one FSA insider said was due to
worries the eclectic board of the food-to-funerals giant lacked
the nous to manage one of the UK’s biggest retail banking
LONDON, March 20 (Reuters) – Banks under investigation for
conspiring to rig the interest rate used as a benchmark for
transactions worth trillions of dollars have almost cornered the
market in expert legal advice in Britain, making it hard for
potential victims to find lawyers to handle their claims.
Investors considering lawsuits against banks which
contributed data to the London Interbank Offered Rate, or Libor,
may be forced to take their cases abroad to stand the best
chance of winning damages, as banks and their traders render
scores of British law firms ‘off-limits’ as they scramble to put
together the best defence.
LONDON, March 15 (Reuters) – APG, one of Europe’s
largest asset managers, has criticised Goldman Sachs Group Inc
for not communicating quickly enough with clients after
ex-banker Greg Smith’s public condemnation of the way the bank
treats its clients.
The Dutch investment advisor, which runs around 300 billion
euros of assets for more than 4.5 million people in the
Netherlands, said it was surprised it took the Wall Street
company more than a day to offer APG any reassurance on points
raised in Greg Smith’s resignation letter.
LONDON (Reuters) – Erin Graham helps well-heeled 60-somethings decide whether to spend their pensions and savings on Christmas cruises in the Caribbean or summer voyages ‘on the Med’.
But the 27-year-old travel consultant knows the chances of enjoying the same lifestyle in her twilight years are slim.
LONDON, Mar 15 (Reuters) – Erin Graham helps
well-heeled 60-somethings decide whether to spend their pensions
and savings on Christmas cruises in the Caribbean or summer
voyages ‘on the Med’.
But the 27-year-old travel consultant knows the chances of
enjoying the same lifestyle in her twilight years are slim.
LONDON (Reuters) – AstraZeneca is dusting off its cheque book.
Britain’s second biggest drugmaker has bought nothing for more than $400 million (255 million pounds) since its 2007 purchase of U.S. biotechnology company MedImmune for $15.6 billion — an overpriced flop that has failed to deliver.