Biggest bank in Japan eyes overseas buys

first_imgTuesday 21 September 2010 7:21 pm whatsapp KCS-content Mitsubishi UFJ Financial Group (MUFG), Japan’s biggest bank by assets, is looking to buy a 15 to 20 per cent stake in a bank in South Korea, Australia or Indonesia to tap the region’s growing economy, a senior executive has revealed.Tatsuo Tanaka, chief executive of global banking at Bank of Tokyo-Mitsubishi UFJ, the firm’s core banking unit, said yesterday that the bank was also eyeing five to seven midsize and 10-20 small US banks for possible acquisitions.He added that the bank would wait for more clarity on Basel III capital rules before it goes after a bigger bank.“In Asia, we are always looking for a target. Not necessarily to acquire but to take a stake,” Tanaka said. “We want to build relationships first as we search for a target.”MUFG and its domestic rivals Mizuho Financial Group and Sumitomo Mitsui Financial Group have been stepping up their overseas expansion in the face of weak growth prospects at home.Japanese banks emerged from the global financial crisis less scathed than some of their western rivals, but their main lending activities remain sluggish as businesses and households curtail spending amid economic uncertainty.Earlier this month, Mizuho, Japan’s second-largest bank, said it was looking to acquire commercial banks in Asia to expand in the fast-growing region, while expressing little interest in buying a US bank.Tanaka, 61, joined the Bank of Tokyo in 1973, rising through the ranks of corporate finance and overseas operations, including a stint in Hong Kong.MUFG is one of Japan’s most active lenders in overseas expansion with a sizable presence in the United States. It bought out UnionBanCal, a holding company of California-based Union Bank, in 2008 and spent $9bn (£5.8bn) for a 21 per cent stake in Morgan Stanley at the height of the financial crisis. Show Comments ▼ Tags: NULL whatsapp Biggest bank in Japan eyes overseas buys Share Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family ProofCheese Crostini: Delicious Recipes Worth CookingFamily Proof last_img read more

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HSBC pledges to stay in London

first_img whatsapp Top executives at HSBC Holdings Plc said there are no plans to move the bank’s headquarters from London, as they gathered for their regular board meeting amid a surprise shake-up in the corporate suite of Europe’s largest bank.“We haven’t reached a decision on whether to move the headquarters or not. If we ever come to that decision, that’s the point at which we will evaluate,” said incoming Chief Executive Stuart Gulliver, in reference to speculation sparked by the bank’s decision to move senior management to Hong Kong earlier this year.The move by outgoing CEO Michael Geoghegan and his team to Hong Kong was a smooth and widely covered transition, reflecting the bank’s rising focus on Asia and fuelling beliefs that the bank would one day move its home base back to Greater China.But when Chairman Stephen Green made his surprise announcement this month that he’d leave the company earlier than expected, his exit set off a scramble among top executives.The normally staid bank seized headlines last week as it appointed a new chairman, chief executive and finance director after reports of internal bickering over the new roles.Geoghegan and board director John Thorton were passed over for the chairman’s role. Geoghegan, who media reports said threatened to quit if he didn’t get the chairman job, has called HSBC’s new leadership team “awesome.”“I am looking forward to moving back to Hong Kong,” Gulliver, 51, said as he arrived at the bank’s China headquarters for the meeting. “My appointment to group CEO does not change the mix of businesses within the HSBC Group,” he said.Green, who is to become Britain’s trade and investment minister in January, said the bank was committed to building its China business, and lamented the leaking of news about the management shakeup, which made global headlines last week before the bank finally made an official announcement.Green also echoed Gulliver’s sentiments that there are no plans to move headquarters to Hong Kong.Under the reshuffle, Green will be replaced as chairman by Douglas Flint, currently finance director, in addition to Gulliver’s ascendance to CEO.“Leakages are always a shame, but we have a very orderly process,” said Green. “We have announced several appointments that are extremely good for the company. I am a shareholder and I will continued to be a shareholder.” by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastNoteabley25 Funny Notes Written By StrangersNoteableyMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.com Tags: NULL John Dunne Wednesday 29 September 2010 2:42 amcenter_img whatsapp Share Show Comments ▼ HSBC pledges to stay in London More From Our Partners Biden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comKiller drone ‘hunted down a human target’ without being told tonypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orglast_img read more

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Post Offices to get £1.3bn of new funding

first_imgWednesday 27 October 2010 8:02 pm Post Offices to get £1.3bn of new funding whatsapp Share Show Comments ▼ The government yesterday unveiled a £1.3bn funding package for the UK’s post office network. The Department for Business, Innovation & Skills said the 11,500 post offices would receive more than £330m a year for four years to maintain and modernise the network.Business secretary Vince Cable said the cash would allow post offices to extend their opening hours, reduce queues and provide more government services in a bid to reverse falling use of the network. Cable said the network was not for sale and there would be no more closures, although over time it could be mutualised and ownership and operation handed to staff, sub-postmasters and local communities. The government is planning to privatise the letter and parcel delivery service Royal Mail, saying it would allow it to benefit from private capital.At least a tenth of the shares in the privatised business would go to staff, the government will take on the service’s pension deficit and collection and the requirement to collect and deliver post six days a week at affordable prices would be protected. center_img whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailNoteabley25 Funny Notes Written By StrangersNoteableySerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesDiscovery23+ Sports Stadiums Around the World That Are Abandoned NowDiscoveryMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen Herald KCS-content Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap Tags: NULLlast_img read more

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Premier Foods confirms bid talks for Quorn are on

first_img Show Comments ▼ More From Our Partners Biden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgMark Eaton, former NBA All-Star, dead at 64nypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comWhy people are finding dryer sheets in their mailboxesnypost.comFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comKiller drone ‘hunted down a human target’ without being told tonypost.com alison.lock Friday 3 December 2010 7:20 am whatsapp Share whatsapp Tags: NULL PREMIER Foods has confirmed it is in advanced talks with bidders for its Quorn meat-free business today, in an answer to speculation about a sale.In a statement Premier, maker of Hovis bread and Branston pickle, said it was open minded about selling the business and confirmed it had received bids from a number of parties including private equity firms and “multinational food groups.”The announcement is a response to reports that Nestle has approached it to buy the division, although Premier would not confirm this and the statement added that “there can be no guarantee” of a sale.Any deal would have to deliver shareholder value and speed up the reduction of Premier’s net debt to EBITDA ratio, it said, as it continues to struggle to reduce its debt pile. Net debt stood at £1.37bn at the end of June. In October, the company paid £167m to exit a series of interest rate hedging derivatives. Shore Capital analysts described Premier as “pension burdened and indebted”. “There are a lot of liabilities to cover within Premier, underlying trading profits are going backwards and we still question if there is much or anything in aggregate for equity shareholders,” they said.Premier’s shares, which had lost 95 per cent of their value by October this year, rose on the news of a bidder for the business, trading at a high of 19.25p today before falling back. Premier Foods confirms bid talks for Quorn are on last_img read more

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Retailers expect a merrier Christmas

first_img RETAILERS are expecting a more prosperous Christmas than last year – fuelled by shoppers buying goods ahead of the looming VAT hike in January.Almost two thirds of traders said they expected sales to be at least the same or better than last year, according to a survey by the British Retail Consortium (BRC). Stores are stepping up their discounting with 41 per cent offering more than last year.Seventy one per cent of retailers think the January rise in VAT to 20 per cent means customers are bringing forward purchases.However, eight out of ten expect the VAT change to have a negative impact on sales in January, the Christmas trading survey found.British Retail Consortium director general Stephen Roberston said: “It’s reassuring to see a majority of retailers believe Christmas sales will be at least as good as last year even if a third say they will be worse. “But, considering inflation is now at 3.2 per cent, growth of anything less then that would be a real-terms fall.“Promotions have hit a new level of intensity, retailers believe the next VAT rise is bringing sales forward and Christmas is usually a time when people spend despite their economic worries but ultimately December could prove to be the ninth month in a row of weak year-on-year growth.”Those surveyed were also asked what impact they felt when VAT was restored to 17.5 per cent in January this year, after being reduced in an attempt to breathe new life into high street sales after the finacial crisis took its toll on consumers.A total of 18 per cent said sales went down while 64 per cent said they had seen no impact.The survey – of 17 major retailers covering 51 per cent of the UK’s retail turnover – was conducted between 22 November and 1 December 2010. Retailers expect a merrier Christmas Share whatsapp Tags: NULL KCS-content whatsapp Show Comments ▼ Sunday 12 December 2010 10:59 pm More From Our Partners Brave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgMark Eaton, former NBA All-Star, dead at 64nypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orglast_img read more

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High street sales edge up in November but retailers sweat over big item sales

first_imgThursday 16 December 2010 8:07 pm KCS-content whatsapp whatsapp HIGH street sales were up in November, official figures showed yesterday.Sales rose 1.1 per cent on the previous year, and have now increased for every month since February, according to the Office for National Statistics (ONS).The news came as John Lewis announced a sales boost of 12 per cent so far this week, compared to the same time last year.“At this time of year we prepare for an influx of ‘last-minute men’ who dash into beauty and lingerie to buy their gifts,” said the chain’s director of selling operations David Barford.However, the ONS revealed that some retailers experienced a decline in sales for November. Sales in household goods stores were down 5.7 per cent. And the overall rise is “soft,” according to Simon Hayes of Barclays Capital Research. “With real pay in decline, the outlook for household spending remains weak,” he said.Consumer confidence dropped to its lowest level since March 2009, according to a Nationwide survey released today.The survey is bad news for retailers hoping to sell big ticket items ahead of the VAT rise on 4 January.“People appear less likely to make major purchases,” said Nationwide’s Martin Gahbauer. “The number of consumers viewing this as a good time to buy fell below 25 per cent for the first time in over two years.” Show Comments ▼ High street sales edge up in November but retailers sweat over big item sales Share Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’SportsnautChicken Bao: Delicious Recipes Worth CookingFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily Proof Tags: NULL last_img read more

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SGS ups dividend as profits rise

first_img KCS-content Share by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’DefinitionTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farmthedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.com whatsapp SGS, the world’s largest inspection services company, raised its dividend and said it saw stronger top-line growth this year after demand for its services picked up in 2010. Full-year net profit at SGS rose 8.4 per cent to 588m Swiss francs (£382.7m) and revenue increased 4.1 per cent on a constant currency basis to 4.8bn francs, said the group. SGS ups dividend as profits rise center_img Monday 17 January 2011 8:37 pm Show Comments ▼ whatsapp More From Our Partners UK teen died on school trip after teachers allegedly refused her pleasnypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comWhy people are finding dryer sheets in their mailboxesnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comKiller drone ‘hunted down a human target’ without being told tonypost.com Tags: NULLlast_img read more

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Personal injury claims rise 72pc

first_img Show Comments ▼ whatsapp KCS-content Personal injury claims rise 72pc Tags: NULL Share Monday 24 January 2011 8:51 pm Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofThe Truth About Bottled Water – Get the Facts on Drinking Bottled WaterGayotChicken Bao: Delicious Recipes Worth CookingFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily Proof whatsapp THE number of high-value personal injury claims has soared 72 per cent over the last five years, according to new statistics obtained by Sweet & Maxwell.The legal information firm says the statistics refer to claims in the High Court, which have a value of £15,000 or more, which have jumped from 715 in 2005 to 1233 in 2009.Sweet & Maxwell says the rise is partly down to increased scrutiny of claims by insurers, brought about by the rising number of claims, and a greater propensity to pursue marginal cases. last_img read more

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Deutsche Bank margins dip but market share up

first_img alison.lock Show Comments ▼ whatsapp Share Deutsche Bank margins dip but market share up whatsapp More From Our Partners Fans call out hypocrisy as Tebow returns to NFL while Kaepernick is still outthegrio.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comFort Bragg soldier accused of killing another servicewoman over exthegrio.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgLA news reporter doesn’t seem to recognize actor Mark Currythegrio.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgKansas coach fired for using N-word toward Black playerthegrio.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgPorsha Williams engaged to ex-husband of ‘RHOA’ co-star Falynn Guobadiathegrio.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comColin Kaepernick to publish book on abolishing the policethegrio.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comMan on bail for murder arrested after pet tiger escapes Houston homethegrio.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.com Tags: NULL Deutsche Bank is winning market share to combat falling margins in its key investment banking arm and is confident of its ambitious 2011 profit target, its executives have said.Germany’s premier institution also revealed an average investment banker pay of over $500,000 (£309,000) each last year, a bigger bonanza than that enjoyed by Goldman Sachs employees.Profits from trading and underwriting deals accounted for 88 per cent of Deutsche’s profits in the fourth quarter, and as regulation squeezes margins, market share has become key.The bank expects growth outside investment banking to reduce that contribution to 50 per cent over the next three years.“Our confidence that we can achieve this (€10bn 2011 profit) target stems from the fact that we not only made provisions for the future in 2010, but we also set new records and captured market share in many businesses,” said Chief Executive Josef Ackermann.Anshu Jain, head of the investment banking division and a front-runner to take over from Ackermann when he retires in 2013, said the market share was now the key.“Margins have now stabilised but are sharply lower than they were right post crisis… So I would not say the margin story is a very positive story. It is a volume and market share competition,” he said.The bank packed a raft of restructuring charges into its 2010 figures earlier this week and missed expectations by a big margin. On Thursday Ackermann said the bank remained on track to deliver pretax profit of €10bn in 2011.Analysts remain sceptical, and a Reuters poll showed that the bank was not expected to get close to that figure before 2012.“If Deutsche Bank really reaches its 2011 target, we and many others will have to massively raise earnings estimates,” said Christine Schmid, an analyst at Credit Suisse Private Banking, which had 935bn Swiss francs of assets under management in September.Nevertheless, Deutsche Bank shares were up two per cent in afternoon trading after an initial decline in early trade, outperforming the STOXX Europe 600 Banks index, which was down 0.4 per cent.Analysts said they were relieved that details of the results did not contain any skeletons in the closet, although the lender published few details on its surging costs.“The good news is that the pretax miss they forewarned about on Monday seems entirely driven by restructuring costs,” said Matthew Clark, an analyst at Keefe, Bruyette & Woods, adding the underlying results looked pretty good.Monday’s profit announcement revealed earnings weighed down by charges to restructure the investment bank and integration costs for Deutsche Postbank and Sal. Oppenheim.Ackermann said Deutsche Bank deliberately accelerated some spending on integration and infrastructure upgrades.Deutsche Bank kept its dividend to shareholders unchanged at €0.75 per share, undershooting consensus for €0.82. Thursday 3 February 2011 11:24 amlast_img read more

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Rexam stock jumps on talk of £200m sale deal

first_img SHARES in Rexam soared yesterday after the British can maker confirmed plans to sell its beverage and specialties arm in a deal that could be worth £200m. The shares rose nearly five per cent in early trading, before closing the day up 3.4 per cent from Friday’s close at 368.9p.Rexam is believed to have appointed Barclays Capital as advisers on the deal, and final bids for the business unit – which makes lids for drink and food containers – are expected this week. Bankers have long said Rexam is an attractive target for takeover. A Rexam spokesman said that the company was considering options for the unit.Rexam was the top FTSE 100 climber just ten days ago when its stock rose following news that it had completed contract negotiations in North America, and signed a long-term contract with its largest Brazilian customer. Following the completion of these negotiations the company forecast that overall operating profit in its Beverage Can North America division in 2011 is expected to remain comparable to that in 2010, as improved pricing, new customers, continued growth in specialty cans and further cost control initiatives will offset the impact of lower net 12 ounce volumes. As a result of the negotiations, Rexam has diversified the customer base for all can sizes and has signed medium-term contracts to recover most of the 2011 volume loss by 2013. The company is scheduled to release its preliminary results for 2010 on 23 February.In a trading update from November, chief executive Graham Chipchase said the company expected its results in the second half of 2010 to be similar to those of the first. Share Rexam stock jumps on talk of £200m sale deal Tags: NULL KCS-content Show Comments ▼center_img Monday 7 February 2011 7:55 pm by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen HeraldSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’DefinitionTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farm whatsapp whatsapp Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofChicken Bao: Delicious Recipes Worth CookingFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily ProofHomemade Tomato Soup: Delicious Recipes Worth CookingFamily Prooflast_img read more

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