News

Jail-sentenced billionaire Mehmet Karamehmet is being sued for almost $10m (£6.6m) in the High Court over loans issued to Maltese shipping company Blue Shipping.

Water companies could be about to make a splash

MARKET REPORT

Allied Irish Banks buys Govett arm

JOHN WILLCOCK

Buyers queue to grab a stake in Gartmore

JOHN WILLCOCK

Ex-SNC boss set to earn pounds 1.6m

DAVID HELLIER

Commerzbank to boost war chest by pounds 430m

JOHN EISENHAMMER

German interest rate cut forecast

JOHN EISENHAMMER

German banks face insider investigation

JOHN EISENHAMMER

Smith & Nephew moves into the takeover target zone

MARKET REPORT

Merrill's pounds 526m SNC bid creates world's largest equities trader

US investment giant Merrill Lynch last night bought London stockbroker Smith New Court in an agreed deal worth pounds 526.3m. Merrill, already the largest stockbroker in America, claimed the deal created the world's largest equities trader.

Comment: The word Sir Rick never wants to hear again

"The truth is that the committee was intent on playing politics. It seems to have thought the tax idea would both make its report look tough and attract attention away from the weakness of the code itself"

Sir Evelyn under pressure in the middle

JOHN EISENHAMMER

Merrill Lynch hopes to make SNC bid soon

DAVID HELLIER

Smith New Court puts case to de Rothschild

Michael Marks, the chairman of Smith New Court, is hoping to present a detailed case for the sale of the leading British broking house to Sir Evelyn de Rothschild at a meeting today. Alarm is growing among the handful of top Smith directors who are heading the negotiations that Sir Evelyn, whose 26 per cent stake holds the key to any deal, may hold out for a public bidding war. "In a highly sensitive people-business like investment banking, past experience shows that this is a risky strategy that could do untold damage to Smith," said an individual close to the takeover talks.

SNC boss's job 'in jeopardy'

Michael Marks' job as chairman of Smith New Court was believed to be in jeopardy last night after his firm's largest shareholder, Sir Evelyn de Rothschild, reacted angrily to proposals that he sell out.

Smith New Court to seek Rothschild sale backing

JOHN EISENHAMMER
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