News

Standard Chartered has unveiled sweeping changes in its boardroom following reports of discord at the top of the FTSE 100 bank.

HSBC eyes £4.5bn stake in Nedbank

HSBC is expected to announce plans to buy a majority stake in South Africa's Nedbank, spending as much as £4.5bn on the deal.

Brittan fills Trade portfolio vacancy

The Government yesterday appointed the former cabinet minister Lord Brittan as its trade adviser.

David Prosser: The trade vacancy that is still to be filled

Outlook The appointment of Lord Brittan as the Government's new trade adviser should make for some entertaining explosions from a certain class of Tory backbencher – Douglas Carswell yesterday described him as "a man whose career saw him help lock UK trade ever more tightly into the sclerotic, high tax/high regulation eurozone" – but makes some sense. If a man who spent so many years working as the European Union's trade commissioner can't help to further Britain's cause with its biggest trading partner, goodness knows who can.

Business grandees shun Cameron over trade job

More than three months after the coalition Government was formed, and ministerial jobs were divided up between the Conservatives and the Liberal Democrats, David Cameron's administration has still not appointed a trade minister to promote UK business abroad.

David Prosser: The attractions of life out of the spotlight

Outlook At first sight, the decision of Lord Davies, the former boss of Standard Chartered Bank who then served as trade minister under the last government, to accept a full-time job at the private-equity business Corsair might come as a surprise. He had been tipped for a much more high- profile return to the private sector and linked to a number of prominent roles in banking.

Lord Davies takes Corsair Capital job

The former trade inister and one-time head of Standard Chartered Bank, Mervyn Davies, is joining US private equity group Corsair Capital.

David Kuo: Is it time to trust the banks again?

Investment Insider

Bid to get more women on boards

Lord Davies of Abersoch, the former chief executive of Standard Chartered, is to head a review looking at ways to get more women into British boardrooms.

Old Mutual sells US unit for $350m

The sprawling Anglo-South African financial conglomerate Old Mutual has sold its US life insurance business in a drive to simplify its structure.

Sponsor will laugh all the way to the bank if Chinese bid wins

Whether it is remarkable good luck, or whether it was always part of the plan, Standard Chartered's sponsorship of Liverpool now looks like a commercial masterstroke as the club seemingly inches towards a deal with Chinese investors.

Anfield demands answers after China denies link to Huang's bid

Liverpool hope leading offer for club is credible despite sovereign fund's claim

Kenya rejoices at the 'birth of a new republic'

Kenya was swept by a wave of optimism yesterday unseen since the victory celebrations for Barack Obama's presidential win. That triumph was down to a Kenyan descendant, but this win was entirely homegrown as the final results showed an overwhelming majority of the country had backed a new constitution.

Profits up at SocGen and StanChart

Standard Chartered and France's Société Générale joined the list of banks posting better than expected results yesterday, although both warned that the outlook remained uncertain.

Market Report: Bid rumours make a comeback around Man

Man, the London-based hedge fund group, was in focus amid a renewal of takeover speculation last night.

Booming UK banks braced for bonus row

Britain's banks are braced for another row over bonuses and lending levels as taxpayer-owned Royal Bank of Scotland, Lloyds Banking Group and Northern Rock finally bounce back into the black this week.

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