Markets live chat transcript for the chat ending at 12:15 on 19 Nov 2009. Participants in this chat were: Neil Hume, FT (NH) Miles Johnson, FT (MJ) NH:good morning NH:and welcome to Markets Live
Pearl Group, the closed life assurance fund business built by Hugh Osmond, has agreed to award shares worth €2.6m (£2.3m) to Ron Sandler, who became chairman in September after a debt restructuring,
Markets live chat transcript for the chat ending at 12:14 on 4 Nov 2009. Participants in this chat were: Neil Hume, FT (NH) Miles Johnson, FT (MJ) NH:hola NH:it’s 11.03am
Breaking pre-market news on Wednesday,
- Societe Generale Q3 net doubles on investment bank - statement.
- Bank of Ireland H1 income falls 73 per cent to €162m - statement.
- BNP Paribas still looking at Societe Generale La Tribune newspaper says;
Lloyds Banking Group and RBS, the part-nationalised UK banks, are set to outline moves to raise a combined £54bn in fresh funding, in a radical reshaping of Britain’s finance industry. Alistair Darling,
Markets live chat transcript for the chat ending at 12:15 on 2 Nov 2009. Participants in this chat were: Neil Hume, FT (NH) Miles Johnson, FT (MJ) NH:Hola NH:It’s 11.03am
Comment, analysis and other offerings from Thursday’s FT,
John Gapper: A three-way split is the most logical
When the history of the global financial crisis is written, it may record that Neelie Kroes,
Gavan Nolan of Markit wrote this CDS report
European credit indices widened for the third day running as the long rally showed signs that it was losing momentum. The Markit iTraxx Europe index was traded wider than 90bp,
Markets live chat transcript for the chat ending at 12:12 on 28 Oct 2009. Participants in this chat were: Neil Hume, FT (NH) Miles Johnson, FT (MJ) NH:hey there NH:this is FT Alphaville
The appointment of Robin Budenberg, a seasoned UBS banker, as the next chief executive of UK Financial Investments, is expected to be confirmed on Wednesday, along with details of a plan to carve up nationalised mortgage lender Northern Rock into “good”
The European Commission is next week expected to approve a radical restructuring of UK lender Northern Rock, paving the way for the break-up and sale of the nationalised bank. Northern Rock’s proposal to split itself into two,
The most (popularly) insensitive quote of the year award goes to the FSA’s liquidity manager, David Morgan.
In a Friday speech on the FSA’s new liquidity rules for banks, which will see them buying more government bonds,
Markets live chat transcript for the chat ending at 12:12 on 7 Oct 2009. Participants in this chat were: Neil Hume, FT (NH) Bryce Elder (BE)
NH:
Hola
NH:
It’s 11.03am
Markets live chat transcript for the chat ending at 12:14 on 6 Oct 2009. Participants in this chat were: Neil Hume, FT (NH) Bryce Elder (BE) NH:Howdy NH:Good morning and welcome to Markets Live
Bedlam Asset Management takes a look at exchange traded funds in its latest market commentary (H/T paver). Specifically, at how — largely because of greed — a sound concept has once again potentially been bastardised by the financial industry.
Adam Applegarth, the former chief executive of Northern Rock, has joined Apollo Global Management as a senior adviser to its European distressed debt fund, becoming the latest fallen corporate boss to seek refuge in private equity.
UK building societies are urging the government to consider returning Northern Rock, the nationalised bank, to the mutual sector when it is sold off. The Building Societies Association cited an academic report that makes a case for converting troubled banks into mutual organisations.
Markets live chat transcript for the chat ending at 12:11 on 22 Sep 2009. Participants in this chat were: Neil Hume, FT (NH) Bryce Elder (BE) NH:Hello NH:Good morning NH:and welcome
A quick update on UK master trusts — the ginormous RMBS securitisation vehicles of Britain’s banks — from ratings agency Fitch on Thursday.
Contrary to some other reports, Fitch are saying a slowdown in prepayment rates doesn’t mean the trusts,
That’s the Conditional Prepayment Rate for UK master trusts — the massive RMBS securitisation vehicles formed by banks in the earlier part of this decade.
Deutsche Bank has started a UK Prepayment Monitor,
Markets live chat transcript for the chat ending at 12:08 on 4 Sep 2009. Participants in this chat were: Neil Hume, FT (NH) Bryce Elder (BE) Tracy Alloway, FT (TA) NH:good morning NH:and welcome to Markets Live
Fresh from the LSE — a bombshell for the British bond market, courtesy of the FSA and the European Commission:
Released 4-Sep-2009
In the context of ongoing discussions between the UK Government and European Commission about the RBS restructuring plan and the Commission’s recent communication on restructuring,
UK banks will be barred from buying the nationalised lender Northern Rock or taxpayer’s stakes in Lloyds Banking Group and RBS if they have big existing operations in the UK, chancellor Alistair Darling signalled on Thursday night.
Markets live chat transcript for the chat ending at 12:05 on 26 Aug 2009. Participants in this chat were: Paul Murphy (PM) Neil Hume, FT (NH) PM:Hello there PM:It’s 11.03
The market for the hybrid debt of British banks was rather roiled last week
First there was news that Northern Rock would be deferring payment of its suboordinated debt coupons. Then then there was a mass-downgrade of the hybrid debt of banks including Lloyds and RBS,
Northern Rock has halted payments on some of its subordinated debt to help conserve capital - its first deferred coupon payments since nationalisation. The UK bank, which recently reported first-half losses of £725m,
No one can really say they didn’t see this coming.
After news earlier this month that Northern Rock is still loss-making, the nationalised lender declared on Tuesday:
In this context,
On FT Alphaville this week,
- Barclays’ monoline burn.
- Joy!The worst of the New York dating scene has returned.
- Kaupthing’s Wikigeysir.
- HSBC’s fair-value.
- Northern Rock’s capital cracks.
Comment, analysis and other offerings from Wednesday’s FT,
The price is not always right
The ‘efficient market hypothesis’ has been a fact of life for economists, writes Richard Thaler, professor of economics and behavioural science at the University of Chicago Booth School of Business and the co-author of ‘Nudge’.
UK banks with government stakes saw a sharp downgrading of chunks of their debt on Tuesday after S&P concluded the government’s sweeping powers could harm bondholders. The downgrades followed the government’s decision earlier this year to suspend interest payments due on some so-called “tier two”
RSS feed