Items by By JULIA WERDIGIER
NYT > Business
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DealBook: Barclays to Sell Its Stake in BlackRock
Posted: May 21st, 2012, 1:21pm EDT by By JULIA WERDIGIER
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The British bank Barclays said on Monday that it planned to sell its stake in the investment management firm BlackRock, which it valued at $6.1 billion.
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DealBook: Aviva Chief Resigns Over Shareholder Pay Revolt
Posted: May 8th, 2012, 8:46pm EDT by By JULIA WERDIGIER
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Andrew Moss, the chief executive of the British insurance company Aviva, resigned unexpectedly on Tuesday as a result of shareholder discontent over pay practices.
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DealBook: Vodafone to Acquire Cable and Wireless Worldwide for $1.7 Billion
Posted: April 23rd, 2012, 10:05am EDT by By JULIA WERDIGIER
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The British phone company Vodafone agreed to buy Cable and Wireless Worldwide, adding a fixed telephone line network and services for businesses to its wireless operations.
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DealBook: Barclays Executives Will Forgo Some of Their Bonuses
Posted: April 19th, 2012, 11:56am EDT by By JULIA WERDIGIER
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After criticism from shareholders about executive pay, the British bank said that its executives would give up parts of their bonuses if certain profitability goals are not met.
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DealBook: Molson Buys Eastern European Brewer for $3.54 Billion
Posted: April 3rd, 2012, 12:12pm EDT by By JULIA WERDIGIER
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Molson Coors is buying StarBev, which brews more than 20 brands in countries including the Czech Republic, Serbia, Croatia and Romania, for 2.65 billion euros from the private equity firm CVC Capital Partners and StarBev management.
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British Banks Told to Lend More, but Also to Take Less Risk
Posted: March 20th, 2012, 10:42pm EDT by By JULIA WERDIGIER
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Seminars tailored to small businesses are just one way Britain’s big banks are trying to get lending going. But many of the businesses that do apply for loans are rejected.
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DealBook: Moody's Unveils Broad Ratings Review of Major Banks
Posted: February 16th, 2012, 6:28am EST by By JULIA WERDIGIER
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Goldman Sachs, Morgan Stanley, Deutsche Bank, UBS and more than 100 other financial institutions might have their credit ratings cut by Moody's Investors Service because of increasingly challenging market conditions.
NYT > Home Page
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DealBook: Moody's Unveils Broad Ratings Review of Major Banks
Posted: February 16th, 2012, 6:28am EST by By JULIA WERDIGIER
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Goldman Sachs, Morgan Stanley, Deutsche Bank, UBS and more than 100 other financial institutions might have their credit ratings cut by Moody's Investors Service because of increasingly challenging market conditions.
NYT > Business
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Britain Defends Austerity Drive Despite Downgrade Threat
Posted: February 14th, 2012, 10:03am EST by By JULIA WERDIGIER
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The government came under renewed criticism after Moody's Investors Service warned that Britain could be next in line to lose its triple-A credit rating.
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DealBook: Credit Suisse Reports First Quarterly Loss in Three Years
Posted: February 9th, 2012, 8:08am EST by By JULIA WERDIGIER
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Weakness in its core investment banking business caused the Swiss bank to report its first quarterly loss in three years, despite beginning a cost-cutting effort last year.
NYT > Home Page
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DealBook: Credit Suisse Reports First Quarterly Loss in Three Years
Posted: February 9th, 2012, 2:50am EST by By JULIA WERDIGIER
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The Swiss bank reported a net loss of $698 million in the fourth quarter of 2011, as its core businesses suffered a slowdown in the weak economic environment.
NYT > Business
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DealBook: UBS Profit Falls on European Debt Crisis
Posted: February 7th, 2012, 7:16am EST by By JULIA WERDIGIER
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The largest Swiss bank said fourth-quarter profit slumped as its wealth management unit failed to make up for a loss in investment banking.
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BP Reports Stronger Q4 Earnings in 2011
Posted: February 7th, 2012, 4:03am EST by By JULIA WERDIGIER
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The British oil company also reiterated its desire for a "fair and reasonable" settlement ahead of a trial on liability for the 2010 Gulf of Mexico oil spill.
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DealBook: Benetton Family Looks to Take Retailer Private
Posted: February 2nd, 2012, 9:05am EST by By JULIA WERDIGIER
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The Benetton family plans to delist the Italian fashion chain that bears its name by buying the shares it does not already own, as retailers across Europe struggle with falling earnings and weak consumer spending.
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Profit Down at Royal Dutch Shell
Posted: February 2nd, 2012, 5:01am EST by By JULIA WERDIGIER
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The company said profit fell 4 percent in the fourth quarter because of lower natural gas prices and lower margins in its refining and distribution operations.
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DealBook: Former UBS Trader Pleads Not Guilty to Fraud
Posted: January 30th, 2012, 11:18am EST by By JULIA WERDIGIER
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A judge in London set a September trial date for Kweku M. Adoboli on charges of fraud and false accounting. UBS says unauthorized trades cost it $2.3 billion.
NYT > Home Page
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DealBook: Former UBS Trader Pleads Not Guilty to Fraud
Posted: January 30th, 2012, 11:18am EST by By JULIA WERDIGIER
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A former UBS trader, Kweku M. Adoboli, pleaded not guilty on Monday to charges of fraud and false accounting that led to a $2.3 billion trading loss at UBS last year.
NYT > Business
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Economic Reports Surprise in Britain and Germany
Posted: January 25th, 2012, 11:35am EST by By JULIA WERDIGIER
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The U.K. economy shrank more than expected in the fourth quarter, while German business confidence rose in January, indicating the economy is growing.
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DealBook: Former Dresdner Bankers Sue for Unpaid Bonuses
Posted: January 24th, 2012, 6:47pm EST by By JULIA WERDIGIER
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More than 100 former Dresdner Kleinwort investment bankers are headed to court, claiming their former employer owes them $66 million in unpaid bonuses.
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In Britain, a Rising Outcry Over Lavish Executive Pay
Posted: January 23rd, 2012, 12:30am EST by By JULIA WERDIGIER
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Two of the country’s biggest investors stepped forward recently to declare their general disapproval with the level of executive compensation.
NYT > Home Page
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In Britain, a Rising Outcry Over Lavish Executive Pay
Posted: January 23rd, 2012, 12:30am EST by By JULIA WERDIGIER
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Two of the country’s biggest investors stepped forward recently to declare their general disapproval with the level of executive compensation.
NYT > Business
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European Central Bankers Criticize Role of Rating Agencies
Posted: January 17th, 2012, 3:14pm EST by By JULIA WERDIGIER
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The heads of the European Central Bank and the Bank of England are urging investors to pay less attention to ratings downgrades of euro zone countries.
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DealBook: Britain Backs Banking Overhaul
Posted: December 19th, 2011, 7:12pm EST by By JULIA WERDIGIER
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By 2019, investment banking and retail banking operations in Britain would be different legal entities and funded separately.
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DealBook: Lloyds Banking Group Chief Executive António Horta-Osório Takes Medical Leave For Exhaustion
Posted: November 2nd, 2011, 9:55am EDT by By JULIA WERDIGIER
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The bank, which is partly owned by the British government, said its chief executive, Antonio Horta-Osorio, would take a temporary leave of absence because of exhaustion.
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BP Earnings Slip 3.7% on Lower Production
Posted: October 25th, 2011, 7:54am EDT by By JULIA WERDIGIER
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The British oil company said it planned to sell more assets and increase investment in exploration as it rebounds from the 2010 oil spill disaster.
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DealBook: UBS Profit Falls 39 Percent After Trading Scandal
Posted: October 25th, 2011, 7:25am EDT by By JULIA WERDIGIER
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The Swiss bank's profit plunged 39 percent in the third quarter from the period a year earlier after a rogue-trading scandal had cost it $2.3 billion.
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Investment Banking’s Uncertain Future at UBS
Posted: October 20th, 2011, 11:47am EDT by By JULIA WERDIGIER
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UBS is trying to shrink its investment banking business enough to satisfy investors and Swiss regulators without disrupting its other operations.
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DealBook: Trading Scandal Could Hasten Changes at UBS
Posted: September 20th, 2011, 8:57pm EDT by By JULIA WERDIGIER
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UBS had planned to scale back its fixed-income operation to help make the bank more profitable, but the scandal may force it to consider even greater changes.
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Britain May Delay Tighter Regulations on Banks
Posted: September 7th, 2011, 4:19pm EDT by By JULIA WERDIGIER
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Because of the weak economy and worries about banks' health, Prime Minister David Cameron is having doubts about changes that could raise banks' costs, officials say.
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DealBook: Hayward's Vallares to Buy Iraqi Oil Company in $2.1 Billion Deal
Posted: September 7th, 2011, 1:40pm EDT by By JULIA WERDIGIER
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Tony Hayward, who resigned as chief executive of BP amid the fallout from the Gulf of Mexico accident last year, is set to lead another oil company.
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DealBook: SABMiller's Takeover of Foster's Gets More Hostile
Posted: September 2nd, 2011, 2:36pm EDT by By JULIA WERDIGIER
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On Friday, the large global brewer accused Foster's of making "misleading and deceptive" statements in its full-year results presentation last month.
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Tax Me More, Europe’s Wealthy Say
Posted: August 31st, 2011, 1:21am EDT by By JULIA WERDIGIER
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Calls from wealthy Europeans asking to pay more taxes are getting louder, with high earners from Italy, Germany and France urging their government to raise rates or issue levies.
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DealBook: $2.3 Billion Loss Posted by Royal Bank of Scotland
Posted: August 5th, 2011, 7:53pm EDT by By JULIA WERDIGIER
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The loss at the Royal Bank of Scotland, the British bank partly owned by the government, came as exposure to Greek government debt continues to weigh on European financial firms.
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DealBook: HSBC to Trim 30,000 Jobs to Cut Costs
Posted: August 1st, 2011, 4:05pm EDT by By JULIA WERDIGIER
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The cuts are intended to help HSBC reduce its expenses by $2.5 billion to $3.5 billion over the next two years.
NYT > Home Page
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DealBook: HSBC to Trim 30,000 Jobs to Cut Costs
Posted: August 1st, 2011, 4:05pm EDT by By JULIA WERDIGIER
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The cuts are intended to help HSBC reduce its expenses by $2.5 billion to $3.5 billion over the next two years.
NYT > Business
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DealBook: Credit Suisse to Cut 2,000 Jobs After Earnings Fall
Posted: July 28th, 2011, 8:04am EDT by By JULIA WERDIGIER
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Credit Suisse plans to cut about 2,000 jobs after a "disappointing" second quarter that saw a big drop in earnings in investment banking.
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Greek and Cyprus Credit Ratings Cut
Posted: July 27th, 2011, 10:10pm EDT by By JULIA WERDIGIER
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Standard & Poor’s cut the rating of Greece further, while Moody’s Investors Service cut Cyprus’s rating.
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BP Profit Misses Forecasts
Posted: July 26th, 2011, 11:55pm EDT by By JULIA WERDIGIER
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The company said higher oil and gas prices had made up for lower production and rising costs, as the Gulf of Mexico spill continued to weigh on results.
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DealBook: Li Ka-shing Group Offers $3.8 Billion for British Utility
Posted: July 11th, 2011, 7:51am EDT by By JULIA WERDIGIER
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Northumbrian Water, a British utility, said on Monday that it had received a takeover proposal worth $3.8 billion from a company controlled by Li Ka-shing, Hong Kong's richest man.
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Britain and China Set $2.2 Billion in Deals and a Goal of Doubling Trade by 2015
Posted: June 28th, 2011, 1:35am EDT by By JULIA WERDIGIER
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Britain is trying to increase exports to China and bolster British manufacturing in an effort to speed an economic recovery that recently has started to slow.
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Brian Lenihan, Ireland’s Finance Minister, Dies at 52
Posted: June 10th, 2011, 11:30pm EDT by By JULIA WERDIGIER
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Mr. Lenihan led efforts to avoid bankruptcy during the economic collapse and negotiated a $93 billion bailout deal with the European Union.
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BP Is Resuming Oil Exploration, Chief Says
Posted: June 9th, 2011, 1:40am EDT by By JULIA WERDIGIER
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The company intends to focus on Australia, Brazil, Azerbaijan and Great Britain, after a deal with the Russian oil company Rosneft collapsed.
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DealBook: Glencore to Emerge From Shadows With I.P.O.
Posted: May 12th, 2011, 9:23pm EDT by By JULIA WERDIGIER
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It remains to be seen whether Glencore can make the transition from a commodities dealer that thrives on secrecy to a transparent public company that must report its finances.
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DealBook: HSBC Aiming to Cut $3.5 Billion in Costs
Posted: May 11th, 2011, 12:05pm EDT by By JULIA WERDIGIER
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HSBC said Wednesday that it plans to cut costs by as much as $3.5 billion over the next three years to improve profitability.
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BP and Rosneft Agree to Extend Deadline for Deal
Posted: April 14th, 2011, 7:35am EDT by By JULIA WERDIGIER
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The talks, on a share swap that is part of the deal for joint oil exploration and development of the Russian Arctic continental shelf, had been set to expire Thursday.
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DealBook: Britain Arrests Seven in Iceland Bank Inquiry
Posted: March 9th, 2011, 8:37am EST by By JULIA WERDIGIER
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The property developers Vincent and Robert Tchenguiz were among those arrested over their ties to the Icelandic bank Kaupthing, which collapsed in 2008.
NYT > Home Page
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DealBook: Britain Arrests Seven in Iceland Bank Inquiry
Posted: March 9th, 2011, 8:37am EST by By JULIA WERDIGIER
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The property developers Vincent and Robert Tchenguiz were among those arrested over their ties to the Icelandic bank Kaupthing, which collapsed in 2008.
NYT > Business
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BP to Pay First Dividend Since Gulf of Mexico Spill
Posted: February 1st, 2011, 9:39am EST by By JULIA WERDIGIER
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The British oil giant also said it plans to sell half of its refining capacity in the United States while expanding in faster growing economies.
NYT > Home Page
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BP to Pay First Dividend Since Gulf of Mexico Spill
Posted: February 1st, 2011, 9:39am EST by By JULIA WERDIGIER
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The British oil giant also said it plans to sell half of its refining capacity in the United States while expanding in faster growing economies.
NYT > Business
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BP Forms Partnership to Explore in Russia
Posted: January 15th, 2011, 12:55am EST by By JULIA WERDIGIER
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The arrangement is expected to speed exploration of Russia’s Arctic continental shelf.
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DealBook: It's Time to Stop Criticizing Bankers, Barclays Chief Says
Posted: January 11th, 2011, 7:57pm EST by By JULIA WERDIGIER
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Robert E. Diamond Jr. pledges to show restraint on pay as a debate about bankers' bonuses gets a hearing in the British Parliament.
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DealBook: Credit Suisse to Defer More Bonuses
Posted: January 10th, 2011, 9:54am EST by By JULIA WERDIGIER
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The Swiss bank said it would lower the threshold for deferred compensation and hand out more of the payout in shares.
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Airline Order Is Vote of Confidence in Rolls-Royce Engine
Posted: January 6th, 2011, 1:18pm EST by By JULIA WERDIGIER
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British Airways expressed confidence in the engine maker by ordering the same model that exploded midair on a Qantas plane in November.
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DealBook: European Deal Makers Place Hopes in Emerging Markets
Posted: December 22nd, 2010, 10:53pm EST by By JULIA WERDIGIER
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As confidence returns, some London bankers expect European takeovers to increase more than 15 percent next year from this year.
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Dublin Blocks Payment of Bank Bonuses
Posted: December 14th, 2010, 4:10pm EST by By JULIA WERDIGIER
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The finance minister said it was galling that part of the taxpayer bailout of Allied Irish Banks would be paid out as bonuses to 2,400 senior staff.
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DealBook: UBS Names Next Chief Financial Officer
Posted: December 3rd, 2010, 7:25pm EST by By JULIA WERDIGIER
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Thomas C. Naratil, a top executive of the bank's wealth management unit in the Americas, will succeed John Cryan, who will leave UBS in May.
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DealBook: Public Anger Has British Bankers Fretting About Bonuses
Posted: November 25th, 2010, 7:45pm EST by By JULIA WERDIGIER
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The British government is pressing banks to avoid paying large bonuses just as the deepest public spending cuts since World War II are taking effect.
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Britain to Tape Traders’ Cell Phones to Fight Fraud
Posted: November 11th, 2010, 11:08am EST by By JULIA WERDIGIER
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New rules would oblige financial services firms to record relevant employee communications made on their work cell phones.
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Jump in Energy Demand Seen by 2035
Posted: November 9th, 2010, 5:50am EST by By JULIA WERDIGIER
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Energy use in China is predicted to surge 75 percent by 2035, and the country is poised to drive development of renewable power.
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BBC Staff Strikes Over Changes to Pension Plan
Posted: November 5th, 2010, 11:10pm EDT by By JULIA WERDIGIER
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About 4,100 union members began a 48-hour strike Friday morning, disrupting global programming, because of dispute over retirement funds.
NYT > Home Page
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BP Profit Down on Oil Spill Charges
Posted: November 2nd, 2010, 5:59am EDT by By JULIA WERDIGIER
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The company said it made $1.79 billion in the third quarter after setting aside another $7.7 billion to cover costs resulting from the Gulf of Mexico accident.
NYT > Business
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BP Profit Down Two-Thirds on Oil Spill Charges
Posted: November 2nd, 2010, 5:38am EDT by By JULIA WERDIGIER
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The company said it made $1.79 billion in the third quarter after setting aside another $7.7 billion to cover costs resulting from the Gulf of Mexico accident.
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European Officials Broadly Criticize U.S. Airport Security Methods
Posted: October 28th, 2010, 3:44am EDT by By JULIA WERDIGIER
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Executives called for an overhaul of security procedures a day after the British Airways chairman faulted Britain for bending to American demands.
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UBS Slides on Worries Over Investment Banking
Posted: October 26th, 2010, 8:04am EDT by By JULIA WERDIGIER
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The Swiss bank reported a profit for the third quarter, but its investment banking division had a loss.
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German Rail Company Shows Off in London
Posted: October 19th, 2010, 12:42pm EDT by By JULIA WERDIGIER
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Deutsche Bahn pesented one of its high-speed trains in London for the first time as it races with Eurostar to be the first to add new routes connecting Britain with the Continent.
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Investors Flock to Greek Bond Sale
Posted: October 12th, 2010, 12:59pm EDT by By JULIA WERDIGIER
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With an austerity program well underway, Greece held a successful bond sale Tuesday, selling more debt than it had expected, and at a yield lower than a similar sale last month.
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Regulators Seek Curbs for Bank Bonuses in Europe
Posted: October 9th, 2010, 1:10am EDT by By JULIA WERDIGIER
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Draft guidelines say bankers should not receive more than half of their bonuses in cash.
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Lehman Memories Sold Off Piece by Piece at Auction
Posted: September 29th, 2010, 3:50pm EDT by By JULIA WERDIGIER
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Although there was little interest in buying Lehman Brothers after it failed, there was a huge appetite for its collection of art and memorabilia at Christie’s.
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Segway Chief Dies in Segway Accident
Posted: September 27th, 2010, 3:20pm EDT by By JULIA WERDIGIER
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James W. Heselden, the owner of the company that makes the Segway, died Sunday morning when he drove one of the two-wheeled scooters off a cliff close to his home in West Yorkshire, England.
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A Quirky Car Company, Serving Quirky Customers
Posted: September 25th, 2010, 12:50am EDT by By JULIA WERDIGIER
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Bristol builds expensive cars by hand in England, and despite the global downturn its sales are up.
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Push to Hire Bankers Accelerates
Posted: September 16th, 2010, 12:57pm EDT by By JULIA WERDIGIER
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A hiring frenzy has broken out among investment banks as they scramble to get their mergers and acquisitions departments in order ahead of what some expect to be a busy year.
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Hayward Defends BP’s Safety Record
Posted: September 15th, 2010, 6:30pm EDT by By JULIA WERDIGIER
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The BP chief faced a British Parliamentary committee and rejected claims that the accident in the Gulf of Mexico was partly the result of cost-cutting.
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HSBC Chairman to Take British Government Post
Posted: September 7th, 2010, 12:01pm EDT by By JULIA WERDIGIER
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Stephen K. Green stepped down at the bank to become the minister for trade and investment.
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BHP Chief Not Anxious Over Potash Bid
Posted: August 26th, 2010, 1:20am EDT by By JULIA WERDIGIER
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Marius Kloppers expressed confidence regarding BHP’s hostile bid for the Potash Corporation of Saskatchewan.
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Data Point to Strengthening Recovery in Britain
Posted: August 19th, 2010, 3:46pm EDT by By JULIA WERDIGIER
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The deficit shrank more than expected in July, and retail sales posted the biggest gain in five months.
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Britain Inflation of 3.1% Is Tied to ‘Temporary’ Factors
Posted: August 17th, 2010, 11:00pm EDT by By JULIA WERDIGIER
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The Bank of England has presented various reasons that inflation is picking up while economic growth is lagging.
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The Latest Stonehenge Visitor Is the Downturn
Posted: August 11th, 2010, 11:20pm EDT by By JULIA WERDIGIER
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Extensive renovation plans for the historic site in England have been further delayed because of government budget cuts.
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Britain Plans to Scrap Mandatory Retirement Age in 2011
Posted: July 30th, 2010, 12:35am EDT by By JULIA WERDIGIER
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The government says it wants to give people the chance to work beyond 65. But business leaders warned that a sudden change would create serious problems.
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Bank of England Leaves Rates on Hold
Posted: July 8th, 2010, 7:17am EDT by By JULIA WERDIGIER
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The European Central Bank and the Bank of England left their benchmark interest rates unchanged.
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British Regulator Fines Drunken Oil Trader
Posted: June 30th, 2010, 5:55pm EDT by By JULIA WERDIGIER
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A former oil futures broker engineered a jump in the price of oil a year ago and cost his firm millions after a weekend of heavy drinking, Britain’s financial regulator disclosed.
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BP Chairman’s Low Profile Likely to Grow
Posted: June 16th, 2010, 12:46am EDT by By JULIA WERDIGIER
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Carl-Henric Svanberg got a summons to the White House to answer President Obama’s questions about the spill.
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British Regulator Fines JPMorgan $49 Million
Posted: June 3rd, 2010, 3:00pm EDT by By JULIA WERDIGIER
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The Financial Services Authority of Britain issued the fine to the bank unit for failing to keep client funds separate from the firm’s money.
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Banks Find Profit Again in Debt Trading
Posted: May 4th, 2010, 11:10pm EDT by By JULIA WERDIGIER
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UBS’s better-than-expected earnings were the latest to signal a rebound in banks’ bedrock businesses.
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Goldman Suit Is Ripe Opportunity for British Regulator
Posted: April 20th, 2010, 7:00pm EDT by By JULIA WERDIGIER
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The Financial Services Agency of Britain, under pressure to strengthen a reputation badly damaged in the financial crisis, has started its own inquiry of Goldman Sachs.
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British Airways Strike Effect Disputed
Posted: March 21st, 2010, 8:59am EDT by By JULIA WERDIGIER
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A strike by British Airways cabin crew members entered its second day, causing further travel disruptions but fewer than the airline had expected.
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BP Gains Access to Brazilian Offshore Fields
Posted: March 11th, 2010, 4:52am EST by By JULIA WERDIGIER
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The deal would give BP access to an area off the coast of Brazil that analysts expect to have great potential for oil discoveries.
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Expecting a Surplus, Britain Posts a Deficit
Posted: February 19th, 2010, 2:04am EST by By JULIA WERDIGIER
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The government spent $6.7 billion more than it collected in taxes in January, traditionally the month with the highest tax receipts.
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Top Two Barclays Executives Forgo Bonuses for a Second Year in a Row
Posted: February 17th, 2010, 1:00am EST by By JULIA WERDIGIER
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Net profit at Barclays more than doubled, helped by strong investment banking profits and a gain from the sale of its money management unit.
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Finance Regulatory Chief in Britain Will Step Down
Posted: February 9th, 2010, 10:20pm EST by By JULIA WERDIGIER
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Hector Sants said he had planned to leave after three years, but some said his move could start a regulatory overhaul.
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UBS Returns to Profit but Clouds Linger
Posted: February 9th, 2010, 6:40am EST by By JULIA WERDIGIER
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UBS posted its first quarterly profit in over a year Tuesday, but customers continued to pull money out of the bank, sending its shares down.
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Cadbury Dismisses Bid From Kraft
Posted: December 14th, 2009, 4:45am EST by By JULIA WERDIGIER
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The confectionery maker said Kraft’s offer was “derisory” and raised profitability targets as a means to convince shareholders it could do better staying on its own.
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British Bank Holds Steady on Rates and Buyback Plan
Posted: December 10th, 2009, 3:21pm EST by By JULIA WERDIGIER
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The Bank of England kept its benchmark interest rate unchanged and decided to keep its program of buying government bonds because signs of an economic recovery remained weak.
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Britain Weighs a Tax on Bank Bonuses
Posted: December 7th, 2009, 3:51pm EST by By JULIA WERDIGIER
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The government laid out more concrete steps for reducing the country’s budget deficit, but would not say whether it plans a controversial tax on bonuses.
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Lloyds Plans Britain's Biggest Rights Offering
Posted: November 24th, 2009, 10:50am EST by By JULIA WERDIGIER
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The troubled British lender plans to raise $22.3 billion to keep the government from taking a controlling stake.
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UBS Outlines Plan to Return to Profit
Posted: November 17th, 2009, 4:50am EST by By JULIA WERDIGIER
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The bank’s chief executive said Tuesday that he expects the company to be earning nearly $15 billion a year no later than 2014.
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British Airways and Iberia Plan to Merge
Posted: November 13th, 2009, 1:26am EST by By JULIA WERDIGIER
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A $7 billion merger of the two European airlines would conclude more than 16 months of talks.
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Bank of England Expected to Spend More
Posted: November 11th, 2009, 9:29pm EST by By JULIA WERDIGIER
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The central bank said it was open to pumping more money into the economy, a warning to those who had speculated the bank would shift focus to controlling inflation.
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Lloyds to Cut 5,000 Jobs; HSBC Says Profit Improved
Posted: November 11th, 2009, 1:45am EST by By JULIA WERDIGIER
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In separate announcements, HSBC and Barclays said it was too early to announce a recovery of Britain’s retail banking market.
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British Bankers Defend Their Pay and Bonuses
Posted: November 6th, 2009, 11:16pm EST by By JULIA WERDIGIER
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Regulators, central bankers and citizens are criticizing bankers for continuing large compensation packages while receiving government funds.
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A Cautious Bank of England Holds Interest Rates Steady
Posted: October 8th, 2009, 7:17am EDT by By JULIA WERDIGIER
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Both the Bank of England and the European Central Bank are looking to see whether current policies have been enough to halt the economic slide in Europe.