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Nulw Full steam ahead at Nationwide as chief issues warning on housing market
Monday 12 December 2016 4:44 pmBarclays says au revoir to French retail division in latest non-core asset saleBy: Hayley KirtonShareFaceboo stanley cup kShare on FacebookXShare on TwitterLinkedInShare on LinkedInWhatsAppShare on WhatsAppEmailShare on EmailAdd as a preferredsource on GoogleBarclays has today agreed to sell its French retail business, marking thebank s finaldeparturefromretail operations in continental Europe.The lender has agreed to sell the74 retail branches, life insurance business, wealth and investment management arm, and brokerage operations in France toprivate equity firm AnaCap Financial Partners.No price was disclosed for the deal, but Barclays noted stanley tumbler the sale wouldreduce its risk weighted assets by around pound;500m and yearly non-core costs by pound;130m.Read more:Financial sector s tax contribution hits a record pound;71.4bn The business in France is an attractive one, with a strong customer base and proposition, but it is no longer central to our strategy, said Jes Stale polene france y,group chief executive of Barclays. I wish the business well under new ownership and success for our dedicated colleagues who will become part of AnaCap s portfolio of companies following completion. The final sale, which is subject to regulatory sign off, is expected to complete by June next year.Barclays will maintain a French presence through itscorporate and investment banking businesses in the country.Read more:Bank of England stress test results ndash; what did the lenders have to s Iexb ITV ups the ante with call for Sky and Virgin to pay to broadcast its shows
Tuesday 03 August 2010 10:16 pm|Updated:Friday 31 May 2019 12:18 amFocus on margins helps push up profit but concerns over debt pile still remainBy: KCS-contentShareFacebookShare on FacebookXShare on TwitterLinkedInShare on LinkedInWhatsAppShare on WhatsAppEmailShare on EmailAdd as a preferredsource on GoogleBUILD it, and they will buy. Well, not quite. Taylor Wimpey managed to beat ex stanley quencher pectations in its first half by focusing on higher prices ndash; not volume. In the UK, it completed 4,804 sales at an average price of pound;168,000, compared to 4,702 sales at pound;153,000 in the first six stanley deutschland months of 2009. Along with lower building costs, higher prices helped push margins up by 8.5 percentage points to 7.5 per cent, more than beating expectations of around three per cent. The second half of this year also looks strong, with a robust forward order book. After that, things are less clear. Coalition plans to toughen up planning laws and economic uncertainty mean that the impressive recovery could run out of steam. Thatrsquo a worry for Taylor Wimpey, thanks to its high gearing. Debt is still a dirty word ndash; especially for housebuilders. stanley germany It spent pound;60.2m servicing its pound;634m debt pile in the first half, and is likely to spend even more in the second half.More risk averse investors should look at Berkeley instead, which has a pound;317m cash pile and a more resistant focus on London and the South East.david.crow@cityam Share this articleFacebookXLinkedInWhats |
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