News Tag: purchase
November 19, 2009
US investment bank JPMorgan is to fully buy Cazenove, the UK broker, in a £1 billion ($1.7 billion) deal.
The deal comes as JPMorgan bought half of Cazenove in 2004 ago and created the JPMorgan Cazenove joint venture. It paid £700 million for the 50% stake.
Under the original terms set five years ago, the US investment bank had until February next ...
JPMorgan reveals £1bn deal to buy Cazenove
by Kay Murchie
November 9, 2009
Berkshire Hathaway, the investment group controlled by respected US billionaire investor, Warren Buffett, has recovered from its poor performance in 2008 and announced a surge in net profit.
The group said net profit was $3.2 billion (£1.9 billion) in the three months to September, compared to $1.1 billion in the same period a year earlier.
Seventy-nine year old Buffett is often ...
Berkshire Hathaway recovers and sees Q3 profits treble
by Kay Murchie
May 8, 2009
Carphone Warehouse has today agreed to purchase Tiscali’s UK business for £236 million.
According to Charles Dunstone, Carphone's chief executive, the deal will make his TalkTalk landline business the UK’s largest home broadband provider - with 4.25 million subscribers.
The deal might also pave the way for the much talked about spin-off of TalkTalk from the mobile phone stores.
Tiscali ...
Carphone Warehouse agrees £236m purchase of Tiscali UK
by Kay Murchie
February 10, 2009
The ex-bosses of Royal Bank of Scotland (RBS) and HBOS have apologised “profoundly and unreservedly" for the near-collapse of their banks.
Speaking to the Treasury Select Committee, Sir Fred Goodwin, former chief executive of RBS said he “could not be more sorry" for the events that led to the bank’s demise.
Furthermore, ex-chairman of RBS, Sir Tom McKillop, confessed that the ...
Former bank chiefs apologise to Treasury Select Committee
by Kay Murchie
May 13, 2008
HSBC, the UK’s largest bank, has announced it is to write-down a further $2.6 billion (£1.3 billion) in addition to the $12.2 billion of write-downs last year.
However, profit in the first three months of 2008 exceeded that of a year ago, as growth in Asia helped counter some $5 billion in hits from bad debts on the US sub-prime mortgage crisis.
Michael Geoghegan, ...
HSBC reveals further write-downs
by Kay Murchie
April 22, 2008
Bank of America (BoA), the second-biggest bank in the US, posted an $8 billion (£4 billion) hit from the credit squeeze in the first 3 months of 2008, reducing its profit for the period by 77%.
Profit dropped for a third consecutive quarter and was below analysts predictions.
The bank, which has its headquarters in Charlotte, North Carolina, set aside $6.01 ...
Bank of America quarterly profit down 77%
by Kay Murchie
