Istithmar's Sale Of ISS In Trouble On DoJ Probe -Sources
18th Jun 2010 14:09
By Marietta Cauchi and Jessica Hodgson Of DOW JONES NEWSWIRES LONDON (Dow Jones)--The sale of Inchcape Shipping Services by Istithmar has been postponed because bidders believe the company is being investigated by the U.S. Department of Justice, people familiar with the situation told Dow J
Read morePRESS RELEASE: Moody's Assigns Definitive Aaa Ratings To Royal Bank Of Scotland's Mortgage Covered Bonds
18th Jun 2010 12:12
The following is a press release from Moody's Investors Service: EUR1.25 billion of debt securities affected London, 18 June 2010 -- Moody's Investors Service has assigned definitive long-term ratings of Aaa to Series 1 of the mortgage covered bonds issued by The Royal Bank of Scotland plc (RBS
Read moreLondon midday: Footsie gives back early gains
18th Jun 2010 12:04
Footsie has now dipped into the red as the early rally by the miners faded away, though BP continues to recover. News that the net cash requirement for the public sector came in at £11.96bn, against expectations of £20.25bn has had little benefit. The accruals-based measure of public sector net bor
Read moreSantander confirms bid for RBS branches
18th Jun 2010 07:39
Spain's Santander has confirmed that it has entered a bid for about 300 high street branches being sold by the Royal Bank of Scotland. The banking giant didn't comment on any financial details, but market speculation earlier this week suggest a deal could be worth about £1.8bn. Santander, which is
Read moreUPDATE: EU Clears JP Morgan Chase To Buy RBS Sempra Commodities
17th Jun 2010 19:56
(Updates with stock prices, additional details) DOW JONES NEWSWIRES The European Commission on Thursday approved J.P. Morgan Chase & Co.'s (JPM) $1.7 billion purchase of the European and Asian trading operations of a joint venture owned by Royal Bank of Scotland Group Plc (RBS, RBS.LN) and
Read moreLondon close: Seventh day of gains for Footsie
17th Jun 2010 16:46
London's blue chips rose for the seventh day running as BP took some comfort from the $20bn deal agreed with US president Obama. Banks also rallied on the new plans for City regulation set out yesterday. This afternoon, the coalition government also axed 12 projects costing £2bn, suspended another
Read moreRBS sells Kazakhstan unit to HSBC
17th Jun 2010 15:13
Royal Bank of Scotland has sold its retail business in Kazakhstan to HSBC for up to $52m (£35m) in cash, taking the number of disposals this week to four. The part-nationalised lender, which should complete this latest transaction on 1 September, will keep its corporate and investment banking franc
Read moreIstithmar Postpones ISS Sale After Drawn-out Process - Source
17th Jun 2010 14:58
By Jessica Hodgson and Marietta Cauchi Of DOW JONES NEWSWIRES LONDON (Dow Jones)--Istithmar, part of Dubai's sovereign wealth fund, has postponed the sale of Inchcape Shipping Services, a person familiar with the situation told Dow Jones Newswires Thursday. The decision comes after a lo
Read moreFTSE 100 movers: BP heads higher
17th Jun 2010 14:56
BP and banks are pushing Footsie higher today. Clarity on the issue of BP's dividends and the staggered nature of payments into Escrow has reassured investors. BP has cancelled dividends for the rest of the year and agreed to a demand from US president Obama to put $20bn in an escrow account to c
Read moreHSBC Buys RBS's Kazakhstan Retail Banking Assets For $52M
17th Jun 2010 14:54
LONDON (Dow Jones)-- HSBC Holdings PLC (HSBA.LN), a global banking group, said Thursday it has agreed to acquire the Kazakhstan retail banking assets of Royal Bank of Scotland Group PLC (RBS.LN) for a maximum consideration of $52 million in cash. MAIN FACTS: -Under the terms of the agreement
Read moreUK Bank Investors See Bright Side Of Financial Reform
17th Jun 2010 14:26
By Margot Patrick Of DOW JONES NEWSWIRES LONDON (Dow Jones)--Bank investors and analysts Thursday saw the brighter side of U.K. government plans to radically overhaul banks' supervision and potentially restrict their activities, with major bank shares rising and analysts saying the proposals
Read moreLondon afternoon: Stocks drift off highest levels
17th Jun 2010 14:12
Leading shares saw their gains trimmed over the lunch time session, despite expectations of a firm start on Wall Street. BP and the banks continue to lead the market higher. Under fire oil giant BP remains the top performer after yesterday's meeting between BP officials and the US president. BP h
Read moreUPDATE: Santander Says Nothing To Add On Reported M&T Talks
17th Jun 2010 13:59
(Updates throughout, adds further comment.) SANTANDER, Spain (Dow Jones)--Banco Santander SA's (STD) vice chairman said Thursday that he had nothing to add for now to reports of talks with M&T Bank Corp. (MTB) about a potential deal with its U.S. unit Sovereign Bank. "The only thing that's
Read moreSantander UK Chairman Doesn't See Problems In New Regulation
17th Jun 2010 13:47
LONDON (Dow Jones)--Banco Santander SA's (STD) U.K. Chairman, Terence Burns, said Thursday the bank doesn't foresee problems with Wednesday's announced changes to the supervision of the U.K.'s financial companies and markets, and that the previous arrangements weren't to blame for the financial cris
Read moreLondon midday: Spanish bond sale boosts banks
17th Jun 2010 12:05
BP and the banks are leading the market higher, with the latter in demand after concerns over Spain's ability to raise money on the bond markets were eased by the latest Spanish bond auction, which saw a higher level of demand than the March offering. Royal Bank of Scotland, Lloyds Banking and Bar
Read more