Wednesday newspaper round-up: BP, BT, GlaxoSmithKline
14th Jul 2010 06:39
Democratic senators in the US are calling for an investigation into BP's business interests in Libya, accusing the British oil company of being part of a deal to free a convicted terrorist in return for oil licences. BP has faced a slew of Congressional investigations following its catastrophic oil
Read moreMoody's: UK Mortgage Lenders Still Face Hurdles; Some Risk
13th Jul 2010 23:30
By Marietta Cauchi Of DOW JONES NEWSWIRES LONDON (Dow Jones)--U.K. mortgage lenders still face challenges because of economic uncertainty and tougher capital requirements that will continue to weigh on more vulnerable companies, while the stronger players will be able to take advantage by m
Read moreWindow For U.S. Corporate-Bond Issuance Swings Open
13th Jul 2010 20:39
By Katy Burne and Chris Dieterich Of DOW JONES NEWSWIRES NEW YORK (Dow Jones)--The U.S. corporate-bond market saw a rush of new supply Tuesday after second-quarter earnings season began on a positive note and issuers that aren't subject to an earnings blackout took advantage of ultra-low spr
Read moreCambridge Place Sues Major Banks Over $1.2B Subprime Losses
13th Jul 2010 15:39
By Margot Patrick Of DOW JONES NEWSWIRES LONDON (Dow Jones)--Cambridge Place Investment Management, the London- and Massachusetts-based hedge fund group that lost billions of dollars of assets from the financial crisis, is suing dozens of investment banks and brokers for the alleged missell
Read moreFinancial News: Tax Shadow Of EUR90B Hangs Over Europe's Banks
13th Jul 2010 15:09
By Liam Vaughan Of FINANCIAL NEWS European banks could be forced to take billions of pounds in writedowns over the next five years because of overly-optimistic calculations on future profitability contained within their accounts. According to research from KPMG published Tuesday, the 15
Read moreUPDATE: RBS CEO: Banks Serve Public Interest, Grow Economy
13th Jul 2010 14:45
(Adds comment, detail, background.) By Marietta Cauchi and Patricia Kowsmann Of DOW JONES NEWSWIRES LONDON (Dow Jones)--Royal Bank of Scotland Group PLC's (RBS) chief executive officer Tuesday said banks play an important role in helping the economy grow, and that while he accepted refo
Read moreChile Scotiabank Awaiting Regulator's Approval For RBS Asset Buy - Report
13th Jul 2010 14:21
SANTIAGO (Dow Jones)--Scotiabank Sud Americano (SUD-AMER.SN) is waiting for approval from the U.K. banks regulator to purchase Royal Bank of Scotland Group PLC's (RBS, RBS.LN) investment banking business in Chile, daily newspaper Diario Financiero reported Tuesday. Scotiabank Sud Americano, the
Read moreRBS CEO: Banks Serve Public Interest, Help Grow Economy
13th Jul 2010 14:20
By Marietta Cauchi and Patricia Kowsmann Of DOW JONES NEWSWIRES LONDON (Dow Jones)--Royal Bank of Scotland Group PLC's (RBS) chief executive officer Tuesday said banks play an important role in helping the economy grow, and that while he accepted reforms were needed, any such changes should
Read moreUK's Great Rolling Stock Company Plans Two-Part Sterling Bond
13th Jul 2010 09:49
LONDON (Dow Jones)--The Great Rolling Stock Company Ltd. plans to sell a two-part sterling bond issue via lead managers Lloyds Banking Group PLC, Goldman Sachs Group Inc. and the Royal Bank of Scotland Group PLC, one of the banks said Tuesday. The deal will comprise a 10-year sterling bond with
Read moreLondon close: BP rally lifts Footsie
12th Jul 2010 16:38
BP was in the driving seat, helping Footsie to good gains as the oil giant's shares rallied on the back of bid talk and hopes that the beginning of the end of the Gulf of Mexico oil leak is in sight. BP said the cost of the clean-up in the Gulf of Mexico has risen to $3.5bn from $3.12bn a week ago
Read moreLondon afternoon: Resource stocks hog the action
12th Jul 2010 14:24
Footsie kicked on over the lunch time session despite mining stocks continuing to be a drag on the index. Expectations of a firm start on Wall Street boosted sentiment while speculative buying has seen BP add to the morning's gains. BP said the cost of the clean-up in the Gulf of Mexico has risen t
Read more3rd UPDATE: Santander Buys SEB German Retail Ops For EUR555M
12th Jul 2010 13:15
(Rewrites, adds detail, further comment.) By Ulrike Dauer, Christopher Bjork and Erik Durhan Of DOW JONES NEWSWIRES Spain's Banco Santander SA (STD) said Monday it will buy Skandinaviska Enskilda Banken AB's(SEB-A.SK) German retail network for EUR555 million, expanding its retail banki
Read moreLondon midday: BP a bright spot in lacklustre Footsie
12th Jul 2010 12:01
Shares in BP have jumped on takeover talk and hopes that it is making progress as it caps the oil leak in the Gulf of Mexico, but Footsie is little changed overall. BP said the cost of the clean-up in the Gulf of Mexico has risen to $3.5bn from $3.12bn a week ago and $2.65bn at the end of June, alt
Read more2nd UPDATE: SEB Sells German Retail Banking To Santander For EUR555M
12th Jul 2010 09:13
(Adds detail, background.) By Ulrike Dauer Of DOW JONES NEWSWIRES Swedish bank Skandinaviska Enskilda Banken AB (SEB-A.SK) Monday said it had reached a deal to sell its German retail network to Spain's largest bank, Banco Santander SA (STD), for EUR555 million, confirming a report by D
Read moreLondon open: A struggle after bright start
12th Jul 2010 08:45
London is struggling to hold onto its bright start despite a good morning for shares in beleaguered oil giant BP. BP said the cost of the clean-up in the Gulf of Mexico has risen to $3.5bn from $3.12bn a week ago and $2.65bn at the end of June, although some say that figure could eventually hit $70
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