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JPMorgan Buys Out a British Banking Partner

LONDON JPMorgan agreed Thursday to buy the rest of Cazenove, its partner in its British investment banking joint venture, for $1.7 billion to strengthen its franchise in a country whose banks either struggle to return to profit or look abroad for ...

From JULIA WERDIGIER, International Herald Tribune,  19 Nov 2009

UBS Outlines Plan to Return to Profit

LONDON — Presenting a plan to return UBS to profitability, the chief executive of the battered Swiss bank said Tuesday that he expects the company to be earning nearly $15 billion a year no later than 2014. Switzerland’s largest bank plans to reach ...

From JULIA WERDIGIER, The New York Times,  17 Nov 2009

Related Topics: Deutsche Bank,  Merrill Lynch

British Airways and Iberia Plan to Merge

Nacho Doce/Reuters British Airways and Iberia have agreed to merge in a $7 billion deal that will create one of Europe’s largest carriers. British Airways and Spain’s Iberia agreed Thursday to a $7 billion combination, ending 16 months of negotiations ...

From JULIA WERDIGIER, New York Times Travel,  12 Nov 2009

Related Topics: British Airways,  AIR FRANCE KLM,  Lufthansa

B.A. and Iberia Boards Meet on Merger Plan

LONDON — British Airways and Iberia moved a step closer to a $7 billion merger agreement Thursday when the boards of both airlines met separately to try and conclude more than 16 months of talks. Under the proposal, British Airways would own about 55 ...

From JULIA WERDIGIER, The New York Times,  12 Nov 2009

Related Topics: British Airways,  Lufthansa,  AIR FRANCE KLM,  European Union,  AMR Corp

Bank of England May Continue Economic Policy

LONDON The Bank of England said Wednesday that it was open to pumping more money into the still-struggling economy, a warning to economists who had interpreted recent steps as a sign that the central bank would shift its focus to controlling inflation. ...

From JULIA WERDIGIER, The New York Times,  11 Nov 2009

Related Topics: Bank of England,  Mervyn Allister King,  Kenneth Clarke

HSBC and Barclays See Differing Results in Earnings and Loan Provisions

LONDON — Britain’s two largest banks painted a strikingly different picture of their businesses in the third quarter Tuesday when HSBC said earnings rose as loan provisions fell, while Barclays reported the opposite. HSBC said profit for the three ...

From JULIA WERDIGIER, The New York Times,  10 Nov 2009

Related Topics: HSBC,  Standard Life

Financial Regulations Chief Chides British Banks

LONDON Many senior banking executives failed to accept responsibility for the financial crisis and neglect the need to change their behavior, Hector Sants, the chief executive at Britain’s financial industry regulatory body, said Monday. Mr. Sants said ...

From JULIA WERDIGIER, The New York Times,  9 Nov 2009

Related Topics: Financial Services Authority

Burberry Looks Online for Ways to Gain Customers

LONDON — Angela Ahrendts still remembers when she bought her first Burberry trench coat. She was 21 years old, had just finished her studies in Indiana and was looking for a smart but warm coat to wear for her first job at a small men’s wear firm in ...

From JULIA WERDIGIER, The New York Times,  9 Nov 2009

Related Topics: Christopher Bailey,  Salvatore Ferragamo,  Prada,  Donna Karan,  Victoria Beckham

Britain and U.S. Clash at G-20 on Tax to Insure Against Crises

ST. ANDREWS, Scotland The United States and Britain voiced disagreement Saturday over a proposal that would impose a new tax on financial transactions to support future bank rescues. Prime Minister Gordon Brown of Britain, leading a meeting here of ...

From JULIA WERDIGIER, The New York Times,  7 Nov 2009

Related Topics: Timothy F. Geithner,  Gordon Brown,  International Monetary Fund,  Alexei Kudrin

British Bankers Defend Their Pay and Bonuses

LONDON “Profit is not satanic,” John Varley, the chief executive of Barclays, told an audience at St. Martin-in-the-Fields church here this week. John Varley, chief executive of Barclays, defended his pay and bonus, and those of his peers, by saying ...

From JULIA WERDIGIER, The New York Times,  6 Nov 2009

Related Topics: John Varley,  Bank of England,  Goldman Sachs,  Josef Ackermann,  Deutsche Bank

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