Royal Bank of Scotland to split investment bank in two
21st Jan 2013 14:12
Royal Bank of Scotland (RBS) is planning to divide its investment bank into two separate divisions, according to reports. The transformation would see the RBS's markets business split from its international banking division. Peter Nielsen, the Chief Executive of the current markets business, will
Read moreMonday newspaper round-up: Barclays, RBS, Cyprus bailout...
21st Jan 2013 06:56
Barclays was hit by further damaging revelations about the culture that was allowed to flourish in certain parts of the bank yesterday after it emerged that a senior executive had suppressed a damaging report into Barclays Wealth in America. The report, compiled by consultancy firm Genesis Ventures,
Read moreSunday newspaper round-up: RBS, HMV, Japan
20th Jan 2013 16:31
Top managers at the RBS investment bank, including its Chief Executive, John Hourican, who it has since emerged was planning to leave after reshaping the business - may quit to take responsibility for the disregard shown for the market even though they are not personally culpable. While the evidence
Read moreLondon close: Markets finish lower, but TUI Travel surges late on
16th Jan 2013 17:10
- World Bank, Germany cut growth estimates - Hostage crisis in North Africa - TUI Travel surges after approach from TUI AG The FTSE 100 ended moderately lower on Wednesday as markets trimmed losses by the close, though the mood was still cautious after both the World Bank and German government down
Read moreFTSE 100 movers: TUI leaps on confirmation of merger approach
16th Jan 2013 15:57
TUI Travel raced ahead of Wednesday afternoon after the firm confirmed that it has been approached by its German parent company, TUI AG, about a merger. "The Independent Directors of TUI Travel have recently received an approach from TUI AG which may or may not result in a combination of the two c
Read moreLondon midday: Banks and miners fall as risk is scaled back
16th Jan 2013 11:38
Banking and mining stocks were firmly out of favour on Wednesday morning as risk appetite was scaled back due to concerns over the outlook for global economic growth. The World Bank has cut its global growth forecast for 2013 due to the difficult recovery that economies worldwide are currently unde
Read moreBroker tips: UK banks, Vodafone, Anglo American
16th Jan 2013 11:05
Nomura has retained its 'neutral' view on the UK bank sector, saying that domestic lenders 'scan weaker' than French and Swiss banks for total returns. "In the context of the risk rally we see the UK domestic banks as well positioned relative to Italian and Spanish banks, but we would prefer to own
Read moreBroker snap: Nomura prefers French/Swiss banks over UK lenders
16th Jan 2013 11:02
Nomura has retained its 'neutral' view on the UK bank sector, saying that domestic lenders 'scan weaker' than French and Swiss banks for total returns. Last month's Anchor report by Nomura highlighted its long-term reason to be cautious on the UK domestic bank sector and favour the UK Asia-focused
Read moreLondon open: Stocks track Asian markets lower
16th Jan 2013 08:35
UK stocks were lower on Wednesday morning as market sentiment was weighed down by heavy losses in Asia, concerns over the euro and a growth forecast cut by the World Bank. "European equities are trading slightly lower this morning unable to recoup yesterday's losses with pressure arising out of Asi
Read moreDaily Mail reports RBS facing prospect of 500m pound fine
16th Jan 2013 08:25
The Daily Mail's online incarnation, the Mail Online, has reported rumours that the Royal Bank of Scotland may be facing the prospect of a 500m pound fine over its alleged role in the LIBOR interest-rate rigging scandal. The news agency suggests that the bank is in talks with watchdogs in the UK an
Read moreWednesday broker round-up UPDATE
16th Jan 2013 07:16
Anglo American: Goldman Sachs reduces target price from 1650p to 1500p and reiterates its sell recommendation. Antofagasta: Goldman Sachs ups target price from 1100p to 1120p and still recommends to sell. ARM Holdings: UBS increases target price from 750p to 900p, while downgrading to neutral. As
Read moreWednesday newspaper round-up: AstraZeneca, Facebook, PPI claims...
16th Jan 2013 06:54
The new boss of AstraZeneca has dismissed two of the drugs company's leadership team as part of a shake-up intended to tackle flagging sales and scientific setbacks. The head of research and development, Martin Mackay, and its global commercial chief, Tony Zook, are to leave the pharmaceuticals grou
Read moreFTSE 100 movers: Anglo American, ARM Holdings, RBS
15th Jan 2013 18:30
Shares in Anglo American took a hit after the company controversially proposed to restructure the platinum mines owned by Anglo American Platinum (Amplats), in which it has a 78 per cent stake, sparking outrage from its unions. In addition, the move has prompted South African Mines Minister, Susan S
Read moreFTSE 100 movers: Anglo American shares fall on restructuring plans
15th Jan 2013 16:57
Shares in Anglo American took a hit after the company controversially proposed to restructure the platinum mines owned by Anglo American Platinum (Amplats), in which it has a 78 per cent stake, sparking outrage from its unions. In addition, the move has prompted South African Mines Minister, Susan S
Read moreLondon close: Markets cautious as US debt fears resurface
15th Jan 2013 16:54
- Anglo sinks into the red by the close - Burberry jumps after Q3 update - Debt ceiling concerns resurface, Obama takes hard-line approach The FTSE 100 finished with only slight gains on Tuesday afternoon as markets continued to be range-bound with concerns over the US debt ceiling weighing on the
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