Brussels may make banks axe 10% of clients
6th Oct 2009 09:02
Royal Bank of Scotland (RBS) may have to shed 10% of its small business customers if the European Commission, keen to penalise the bank pay for for receiving billions of pounds in state aid, gets its way. Brussels wants RBS, 70%-owned by the UK taxpayer, to give up about 100,000 of its one million
Read moreSunday newspaper round-up: BAE Systems, Aviva, Lloyds Banking
4th Oct 2009 10:09
Directors of BAE Systems rejected a £300m settlement of a Serious Fraud Office investigation after receiving advice they would leave themselves open to civil lawsuits for a misuse of shareholders' funds. The offer, made by the SFO in recent weeks, came after lengthy talks over a plea bargain deal t
Read moreLondon close: Stocks finish down
2nd Oct 2009 16:33
London's leading shares closed in the red but were off earlier lows as the US recovered somewhat after a poor start. A weaker than expected jobs report had pushed US stocks deep in the red, though by midday the markets had retraced some of the losses. Over here, there was good news for home owners
Read moreThursday newspaper round-up: Bankers' bonuses, Northern Rock
1st Oct 2009 05:51
A divide has already emerged between Europe and the US over how to implement new Group of 20 rules on bankers' bonuses, with British banks facing a stricter regime than is likely to apply in the US. The UK government on Wednesday night rushed out a statement trumpeting the agreement of Britain's t
Read moreWednesday newspaper round-up: EU tightens pressure on Lloyds Banking,
30th Sep 2009 06:17
Banking executives will be disqualified from holding directorships if regulators believe they have overpaid themselves and their employees, Gordon Brown declared yesterday. The hardline position on bonuses was announced after the Prime Minister told the Labour Party conference in Brighton that an e
Read moreLondon close: Directionless day for FTSE 100
29th Sep 2009 16:52
Footsie finished slightly in the red after another day of flitting between the red and the blue while not showing any real sense of direction. Swiss bank Credit Suisse has issued a bearish note on the property sector prompting the likes of Land Securities, SEGRO and Hammerson to shift into reverse
Read moreLondon afternoon: Back to square one
29th Sep 2009 14:34
It's back to square one for the Footsie which is barely changed on the day, with gains on banks and insurers counterbalanced by miners and property stocks. Swiss bank Credit Suisse has issued a bearish note on the property sector prompting the likes of Land Securities, SEGRO and Hammerson to shift
Read moreLondon midday: Blue chips still struggling
29th Sep 2009 12:06
Miners and property stocks are keeping Footsie in the red despite the banking and insurance sectors going well. Swiss bank Credit Suisse has issued a bearish note on the property sector prompting the likes of British Land, Land Securities, SEGRO and Hammerson to shift into reverse. Credit Suisse's
Read moreLondon open: Dull start for Footsie
29th Sep 2009 08:51
Three-figure gains in the US overnight haven't helped London much with blue chips going lower in early dealings. Property groups are weak with all of the sector heavyweights - British Land, Land Securities and Hammerson - under pressure. Banks are offsetting some of this weakness after the Times
Read moreLondon close: Buoyant US lifts FTSE 100
28th Sep 2009 16:37
Footsie put a sluggish start to the day behind it to post strong gains, helped by buoyant showing on Wall Street. There were contrasting fortunes for two stocks dependent on the health of the housing market, with Wolseley on the rise and Home Retail on the slide. Earlier today property research fi
Read moreLondon afternoon: Market cements morning's gains
28th Sep 2009 14:15
London made further headway over the lunchtime session, boosted by expectations of a firm opening on Wall Street. There are contrasting fortunes for two stocks dependent on the health of the housing market, with Wolseley on the rise and Home Retail on the slide. Earlier today property research firm
Read moreLondon midday: Market edges higher despite weak banks
28th Sep 2009 11:59
Leading shares remain mixed, but the Footsie is still in the blue despite weakness from banks and miners. Cash call rumours continue to swirl around the two part-nationalised banks Lloyds Banking and Royal Bank of Scotland while miners are easier despite some upbeat comments from Anglo American bos
Read moreThursday newspaper round-up: Cadbury, Vauxhall, BoE
24th Sep 2009 06:07
Todd Stitzer, chief executive of Cadbury, has appeared to concede that a combination with Kraft makes "strategic sense". Bank of America/Merrill Lynch revealed that Mr Stitzer had told a conference organised by the investment bank that he did not expect Kraft would walk away and that his 'job is to
Read moreWednesday newspaper round-up: Magna/Vauxhall, Barratt, BP
23rd Sep 2009 06:38
Magna is preparing to cut between 1,100 and 1,200 jobs at Vauxhall in a move which would wipe out almost a quarter of the car maker's British workforce. The potential job cuts, set to be across the Ellesmere Port and Luton plants according to a source, caused unions to accuse Magna of a "political
Read moreLloyds non-execs quit
22nd Sep 2009 17:34
Lloyds Banking announced today that two of its non-executives have decided to stand down due to the increasing time demands required by their roles. Carolyn McCall, chief executive of Guardian Media Group (GMG), has decided to stand down from the board at the end of this year. Meanwhile, Philip G
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