UK

Italy’s biggest listed investment bank has agreed to acquire a controlling stake in UK asset manager Cairn Capital, as it seeks to broaden its footprint outside Italy.

The inclusion of A-shares in institutional investors' portfolios is inevitable, although the process will be a gradual one for index providers, exchanges and money managers, FTSE Russell chief executive Mark Makepeace has told GlobalRMB.

The first tranche of the RBS selldown loses money for the taxpayer. But it’s a long way from being over, and history could show it was a smart move.

Barclays was on track to print its first standalone sterling AT1 inside 8% after pulling in more than £3bn of demand on Tuesday morning.

Sainsbury’s Bank has shelved a sterling tier two trade following a roadshow last month.

China Construction Bank (CCB) London branch is set to offer its debut multi-currency certificates of deposit (CDs) in the next few weeks. Jinming Hu, co-head of Treasury at CCB London Branch, told GlobalRMB that they would include renminbi-denominated offerings.

Northgate, the UK van hire firm, has reduced its flagship bank facility and replaced the financing with a €100m private placement from Pricoa Capital.

International Airlines Group's financing of its €1.4bn acquisition of Aer Lingus has taken another twist, with IAG signing a €600m term loan with Helaba and British Airways.

Barclays is lining up a sterling denominated additional tier one as the primary market stays alive into August.

Banca IMI has hired a global loan syndication head to front its new London syndication desk.

Singapore-listed Frasers Centrepoint (FCL), which raised a £300m ($468.5m) five year loan from Barclays, BNP Paribas and Standard Chartered to fund the acquisition of boutique hotel chain Malmaison Hotel du Vin, has opened the loan into wider syndication.

A three-day slide in China's A-share market that included the biggest one-day percentage drop in more than eight years on July 27 has led to domestic critics pointing the finger at overseas investors. Mark Boleat, policy chairman at the City of London Corporation, has a different take. He says China needs foreign participation in its markets to ensure its goal of RMB internationalisation is successful.