RBS aiming to restart dividend payments
25th Sep 2012 09:15
Royal Bank of Scotland, the 82 per cent publicly owned bank, says it is targeting the resumption of dividend payments after 2013. The lender also delivered a positive message as regards its third quarter revenue performance and unveiled some additional cost cutting measures. The announcements came
Read moreRBS managers may have participated in LIBOR rate-rigging
25th Sep 2012 08:40
Managers at state-owned lender Royal Bank of Scotland condoned and participated in the manipulation of global interest rates, indicating that wrongdoing extended beyond the four traders the bank has fired, Bloomberg reports. In an instant-message conversation cited by the news agency, and dating b
Read moreLondon close: Miners hit as no sign of gear-change in China
24th Sep 2012 16:41
After reaching a nadir at midday, equities pared losses in the afternoon session, with defensive stocks enjoying a bit of support. The morning had been characterised by gloom over China's economy and differences of opinion among the heavy hitters in the Eurozone. Chinese central-bank advisor Song
Read moreRBS cutting more jobs at investment bank
24th Sep 2012 14:52
Taxpayer-controlled Royal Bank of Scotland plans to cut an extra 300 jobs at its investment bank, according to figures released today. RBS now aims to cut 3,800 roles at its investment banking arm by the end of 2013, 300 more than previously anticipated. The lion's share of those jobs, 3,000, will
Read moreRBS director makes sale ahead of Direct Line flotation
20th Sep 2012 15:59
Chris Sullivan, who has been the Chief Executive of Royal Bank of Scotland's Corporate Banking Division for three years, sold 85,805 shares in the lender less than a week after it announced plans to float its Direct Line Insurance Group. The flotation will complete one of the conditions of its £45
Read moreCCB interested in British, French and German lenders
17th Sep 2012 07:34
According to a report in the Financial Times, China Construction Bank (CCB), the second-ranked Chinese bank by assets after Industrial and Commercial Bank of China, could spend as much as $15bn on a deal, according to Wang Hongzhang, the group's chairman. "Some of the banks in Europe have been put
Read moreLondon close: Footsie jumps to six-month high on QE3
14th Sep 2012 16:26
- Footsie closes at highest level since mid-March - Markets celebrate QE3 announcement - Mining stocks surge as demand outlook improves Massive gains in the mining sector lifted the FTSE 100 to a six-month high on Friday as markets reacted to the Federal Reserve announcement of further economic sti
Read moreFTSE 100 movers: Miners soar after Fed announcement
14th Sep 2012 15:39
Mining stocks were putting in an impressive performance as metals prices gained on a weaker dollar after the Fed announcement. Investors are hoping that an improved US economy will boost the demand for commodities. Kazakhmys, Vedanta, Evraz, Fresnillo, ENRC, Antofagasta and Anglo American all gain
Read moreLondon midday: Mining stocks celebrate QE3
14th Sep 2012 11:48
- Footsie at six-month high after Fed decision - Mining stocks rocket on stimulus plans - Markets' upside momentum to remain in the weeks ahead, says analyst London's stock market continued to extend gains on Friday morning after last night's announcement of more stimulus in the US, pushed the FTSE
Read moreLondon open: Footsie at six-month high after QE3
14th Sep 2012 08:23
- Stocks soar after last night's QE3 announcement - Fed to buy mortgage debt, maintain Operation Twist - Miners, banks surge early on Stock markets across Europe surged in early trading on Friday following last night's stimulus announcement from the Federal Reserve; increased risk appetite was ben
Read moreLondon pre-open: FTSE set to soar on QE3 decision
14th Sep 2012 07:30
City sources predict the FTSE 100 will open up 85 points from yesterday's close of 5,820, after the US Federal Reserve announced on Thursday that it will launch its third round of quantitative easing, or QE3. The Fed announced that, in order to bolster the economy and make sure that inflation stays
Read moreRBS to launch Direct Line IPO
14th Sep 2012 07:08
Royal Bank of Scotland is to launch an initial public offering (IPO) of its Direct Line Insurance Group, completing one of the conditions of its 45.5bn-pound bailout from the government in late 2008. "We are pleased to confirm today our intention to commence an IPO of Direct Line Group. Direct Line
Read moreRBS directors sell as nine Burberry directors stock up
12th Sep 2012 16:41
Late on Tuesday afternoon it was announced that the Chief Executive of RBS Insurance, Paul Geddes, and the Chief Executive of RBS Markets and International Banking, John Hourican, have both sold shares in the government-owned lender. Geddes sold 39,489 ordinary shares on Monday at 245.71p each, wh
Read moreLondon close: Stocks down ahead of Fed, employment data divides
12th Sep 2012 16:32
- Ex-div stocks and miners weigh on Footsie - Germany approves ESM - All eyes turn to the Fed - Dutch elections tonight Following a stint in the blue after Germany's decision to approve the Eurozone rescue fund, the Footsie had sunk firmly into the red by the close with ex-dividend stocks and minin
Read moreFTSE 100 movers: German ruling boosts financials
12th Sep 2012 13:48
UK banking stocks advanced after Germany's high court approved the Eurozone's new rescue fund, the European Stability Mechanism (ESM), with Lloyds, Royal Bank of Scotland, Barclays, Standard Chartered and HSBC were making gains by this afternoon. RBS was also benefiting after Liberum Capital lifte
Read more