Sunday newspaper round-up: Big freeze, Anglo American, 888...
19th Dec 2010 10:51
The big freeze shattered some retailers' hopes of a 'Super Saturday' as treacherous conditions kept shoppers away in some parts of the country. The Trafford Centre in Manchester reported high numbers of customers but Bluewater in Kent said numbers were down compared with last year. Brent Cross sho
Read moreSector Movers: Astra drags down pharma sector
17th Dec 2010 14:57
The pharmaceuticals and biotechnology sector is the weakest sector Friday afternoon with AstraZeneca among the biggest fallers. AstraZeneca has tumbled after it suffered another delay in getting US approval for its potential blockbuster blood-thinning drug Brilinta after the US Food and Drug Admini
Read moreFTSE 100 movers: AstraZeneca disappointment
17th Dec 2010 12:58
AstraZeneca is the worst performer in the Footsie because the FDA has asked for more information about blood-thinning drug Brilinta. This represents a further delay is getting US approval for Brilinta. Gloomy comments by the Bank of England about potential bad debt provisions hit Royal Bank of Sco
Read moreBanks must retain more profits BoE warns
17th Dec 2010 08:27
UK banks should prepare for more financial turbulence ahead, especially in the eurozone, by retaining more profits, the Bank of England's latest financial stability report suggests. The Bank warns that the strong links between the UK and Europe would mean a knock on effect on British banks throug
Read moreRBS nails £3.9bn asset sale
17th Dec 2010 07:55
Royal Bank of Scotland has agreed the sale of a non-core portfolio of about £3.9bn of project finance assets to Bank of Tokyo-Mitsubishi UFJ (BTMU). It has reached final legal agreement on the sale, first announced last month when a non-binding memorandum of understanding was signed. The portfoli
Read moreBroker tips: UK banks, Serco, Misys
16th Dec 2010 14:29
Nomura highlights the attractive valuations of EU banks, but says the sector is volatile and its preference if for northern European commercial banks over those in the south. According to Peace, southern European banks are under a greater earnings risk than the northern sector due mostly to the imp
Read moreBroker snap: North European banks get nod over the south
16th Dec 2010 12:08
Nomura highlights the attractive valuations of EU banks, but says the sector is volatile and its preference if for northern European commercial banks over those in the south. Analyst Jon Peace says the sector valuation is low after recent macro-related underperformance, and ongoing uncertainty surr
Read moreLondon close: Footsie stumbles as recovery falters
15th Dec 2010 16:42
Footsie closed lower after a recovery following a decent performance on Wall Street fell just short. Shares were under the weather earlier on, with the eurozone debt situation helping to darken the mood, but later moved back towards the blue as strong economic data in the US buoyed sentiment. Fig
Read moreRBS offloads Chinese deposits
15th Dec 2010 13:57
Royal Bank of Scotland is transferring certain staff and customers of its retail and commercial business in China to DBS Group Holdings. This is the latest deal in the bank's asset reduction plan. The customers transferring have deposit accounts or structured deposit contracts with RBS in China. N
Read moreLondon midday: Stocks stuck lower
15th Dec 2010 12:12
Shares are under the weather today as eurozone debt worries resurface, adding to the gloom after last night's comments from the US Federal Reserve about "disappointingly slow" growth. Two ratings agencies have issued separate warnings on the debt worries plaguing Spain and Belgium. Moody's says it
Read moreTaxpayers to wash face on RBS and Lloyds
15th Dec 2010 12:03
The National Audit Office says that the UK government is unlikely to make a loss on bailing out the UK banks but it is paying £5bn a year in interest on cash used in the bail out. The final outcome depends on the cash raised from the eventual sales of the stakes in Royal Bank of Scotland and Lloy
Read moreLondon open: Blue chips head lower
15th Dec 2010 08:58
Late weakness on Wall Street has caused an an early slip in London despite a bid for Capital Shopping and more drilling success for BG. Simon Property has written to Capital Shopping Centres (CSC) outlining an indicative proposal worth 425p a share in cash, or almost £3bn. US mall owner Simon, wh
Read moreRBS report details to be published
15th Dec 2010 08:09
Investors should soon be able to see exactly why the Financial Services Authority decided the directors that brought down Royal Bank of Scotland had no case to answer, after the regulator bowed to pressure to release details of its inquiry. FSA chairman Lord Turner says that the regulator will seek
Read moreWednesday newspaper round-up: RBS, Belgium, Royal Mail...
15th Dec 2010 06:40
The Financial Services Authority is aiming to publish a fuller account of its controversial decision to clear the former directors of Royal Bank of Scotland of any wrongdoing. The move comes after a political outcry over the City regulator's earlier refusal to release the details of its findings. T
Read moreLloyds and RBS should split says Myners
13th Dec 2010 13:47
Lloyds Banking and Royal Bank of Scotland, Britain's two state-controlled banks, should be split up according to the former City minister Lord Myners. "The future lies in less monolithic institutions, with more fluid entries into and out of the banking sector," the Labour peer wrote in the FT today
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