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’[Something for the weekend] Life’s a beach (or not)
Life’s a beach (or not)
Ah, the holiday season. Dreams of surf, sea, sand – and soggy share prices, or so it must seem to the bewildered shareholders in Thomas Cook. The travel agent’s “amendment to bank facilities”
[Something for the weekend] An irrelevant bargain for Branson
When you’re short of money, the odd £747m always comes in useful, but it doesn’t go far these days. It’s enough to finance the UK state spending machine for about nine hours. The government had spent more than the proceeds from the sale of Northern Rock before it could read the reaction to it in Friday’s papers.
[Something for the weekday] Dear Mr Budenberg
Due to unforeseen technical errors — actually it was the over zealous FT spam filter — Neil’s column did not appear at its usual time on Friday. But it’s too good to waste so we are publishing now.
No clean exit from RBS
Attention George Osbourne.
The UK taxpayer will not get out of RBS clean. There will be no early return to recent share price highs and the bank will not meet its return on equity targets (15 per cent by 2013!),
UBS banker to succeed Kingman at UKFI
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”
Shake-up at UKFI stuns City
Top City of London bankers were stunned on Tuesday by news of a shakeup in the team that runs the UK taxpayer’s stake in the banking industry, raising fears of a “massive hole” in the management of a portfolio that could eventually be sold for more than £100bn.
The UKFI gravy train? No
And so to the UKFI remuneration report, cos that’s the first thing journalists do when they pickup an annual report…
Hmm. Not much to gawp at there.
Bonus hunters might point out that such performance-related pay will be awarded in arrears – so these figures will not feature in the table above.
Bank of Kingman annual report
Just out – the UK Financial Investments annual report, and accompanying guff.
Some quick links:
UKFI Strategy: Market Investments and Annual Report and Accounts
UKFI Strategy: Market Investments Share Price Performance Chart
UKFI Strategy: