The recruitment by Royal Bank of Scotland of bond trader Antonio Polverino from Merrill Lynch has sent City eyebrows skywards — and not just because RBS, which is 70%-owned by the taxpayer, is rewarding him so handsomely ... more
Chelsea Building Society, which suffered a £55 million exposure to the failed Icelandic banks Kaupthing and Landsbanki, announced the departure of its chief executive without naming a replacement ... more
A hint of calm, but certainly not normality, is returning to the busted Nordic economy thanks to the International Monetary Fund's $10 billion bailout. But for many UK investors the story isn't over... more
In 25 years as a journalist, I have never come across a scandal like the Metropolitan Police losing £30 million of Londoners' money in the Icelandic banking collapse... more
Staff have dubbed it “the post-Icelandic support group”. Employees at Mayfair stockbroker Teathers, who have taken a double hit from Iceland’s banking meltdown, are on the verge of getting a new employer: Singer Capital Markets, itself rescued from that country’s chill... more
Staff have dubbed it "the post-Icelandic support group". Employees at Mayfair stockbroker Teathers, who have taken a double hit from Iceland's banking meltdown, are on the verge of getting a new employer - Singer Capital Markets, itself rescued from the country's chill... more
Retail: Any last hope Jon Asgeir Johannesson could retain some control over his retail empire died when Baugur was formally placed into administration... more
Retail: Icelandic holding company Baugur, which has major retail interests in Britain including stakes in House of Fraser and Hamleys has applied for court protection after restructuring talks with its lenders failed... more
Banking: Dutch banking giant ING today reported the first loss since it was formed in 1991, in what was another dismal day for continental financial services firms... more
West Ham owner Bjorgolfur Gudmundsson is considering selling the club after the economic meltdown in Iceland wiped an estimated £230million off his personal fortune, and left him facing the possibility of even bigger losses... more
London authorities will not be reimbursed for the loss of £200 million of taxpayers' cash in the collapse of Iceland's Landsbanki, say Treasury sources... more
Banking: Trading in the shares of all Iceland’s banks and financial institutions was suspended on the Nordic Exchange ahead of a long-awaited bailout plan from the government... more
Travel: The Icelandic banking magnate who led the £98million acquisition of West Ham United two years ago is set to bear the brunt of the collapse of XL Leisure, the airline and tour operator... more
With shares in Thomson holiday group TUI Travel and in Thomas Cook soaring on the back of the failure of their smaller rival XL, the irony of one particular share recommendation for the companies appeared to be lost on many in the City... more
The lack of spare cash in drinkers’ pockets appears to be having a detrimental effect on the UK’s big pub chains, judging by the collapse in their share prices this year.... more
Afternoon:
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