Financial Times - Financial services
The latest news from the finance industry.
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Dec 4 Spanish banks take control of Metrovacesa
Spain's Sanahuja family ceded control of Metrovacesa to creditors, less than two years after completing a highly-leveraged buyout of one of Spain's biggest property companies
Article from Financial Times - Financial services
Dec 4 Michael Page warns on profits
Shares in the recruitment consultant tumbled as it forecast profits at the low end of estimates and said it would continue to cut jobs
Article from Financial Times - Financial services
Dec 4 Fink plans to raise $5bn for 'eco funds'
Stanley Fink, the former Man Group chief, will use the money for a new fund manager that will appeal to investors looking to increase their allocation to environmental issues
Article from Financial Times - Financial services
Dec 4 Hilco appointed to operate The Pier
The collapse of the Icelandic-owned furniture chain is the latest example of retailers struggling in the consumer downturn and attracting interest from distressed investors
Article from Financial Times - Financial services
Dec 4 Neuberger managers to buy Lehman asset unit
Neuberger Berman and other asset management operations of the bankrupt investment bank will be sold to a group of the unit's portfolio managers who won the business in a court auction
Article from Financial Times - Financial services
Dec 4 Nomura to slash 1,000 jobs in London
Nomura is planning to cut about 1,000 jobs in London, or more than 20 per cent of its staff in the city, following its purchase of parts of Lehman Brothers
Article from Financial Times - Financial services
Dec 4 Latvia nationalises Parex Bank
With depositors losing confidence in the last big independent Baltic bank, the government is set to increase its stake to 84% in order to reassure clients, creditors and the IMF
Article from Financial Times - Financial services
Dec 4 Refinancing gets tougher in Asia
Standard & Poor's says banks have become more cautious in lending, causing corporate debt to worsen markedly as business softens and financial strain spreads
Article from Financial Times - Financial services
Dec 4 Numis revenue tumbles 41% as deal fees drop
The UK investment bank and stockbroker missed expectations as proprietary investments and strong commissions could not compensate for falling transaction work
Article from Financial Times - Financial services
Dec 4 Carlyle to cut 10% of staff as downturn bites
Private equity firm Carlyle is cutting 10 per cent of its staff in the latest indication that buy-out firms will not be immune to the meltdown in the markets