Tom Jenkins News
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London hotels, shops, restaurants and major attractions are losing sales as visitors heed warnings of overcrowding in the capital from Mayor Boris Johnson.
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The 2012 Olympic Games in London are “distorting” the market for hotel rooms in the English capital, the European Tour Operators Association said.
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Ireland making good on its threat to impose losses on senior bank bondholders would precipitate a funding crisis for lenders across southern Europe, according to CreditSights Inc.
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Irish Finance Minister Brian Lenihan warned holders of bank bonds last month that they will have to share the pain of rescuing the country’s financial industry. When a new government takes over, more investors may get hurt.
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Organizers of the 2012 London Olympics won’t cancel test events planned for this week as they review security after three days of riots in the British capital.
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Anglo Irish Bank Corp. offered to exchange 1.6 billion euros ($2.2 billion) of subordinated debt for new bonds at a rate of 20 cents on the euro as the nationalized lender seeks to generate capital.
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Jefferies Group Inc., the New York- based brokerage that specializes in mid-sized companies, said it hired Samantha Wessels from BlueBay Asset Management Plc for its credit trading team in London.
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The world’s biggest banks are offering loans to help them win places on companies’ bond deals as a 39 percent drop in sales this year, the most since at least 1998, shrinks fees.
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Anglo Irish Bank Corp. government- guaranteed senior bonds fell for a sixth day as investors wagered they’ll be forced to share the cost of bailing out the nationalized lender with taxpayers.
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Bank of Ireland Plc is close to completing an offer that allows junior bondholders to swap their debt for equity in the lender, according to two people familiar with the progress of the negotiations on the plan.
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