RBS offloads French factoring business
19th May 2010 09:35
Royal Bank of Scotland has agreed to sell its factoring business in France, RBS Factor S.A., to GE Capital. The transaction is subject to regulatory approval and expected to complete in the third quarter. GE Capital already bought the bank's factoring business in Germany earlier this year. RBS Fa
Read moreEx-RBS executive agrees job ban with FSA
18th May 2010 10:40
Britain's financial services watchdog said Johnny Cameron, the former head of investment banking at Royal Bank of Scotland, has agreed to a life-time ban from financial sector jobs as part of a settlement of an investigation into his role at the part-nationalised bank. The Financial Services Author
Read moreLondon afternoon: New recession fears hammer markets
14th May 2010 15:50
Shares across Europe have have tanked on concerns that measures to tackle the European debt crisis could spark widespread civil unrest and send the eurozone into a prolonged recession. Consumer spending is likely to come under pressure as European governments - including the UK's - seek to address
Read moreLondon open: Poor start for Footsie
14th May 2010 08:44
London's top stocks have turned down after the late gains yesterday with banks again under pressure on concerns over the plans of the new government to curb their activities. Reports that the EU is to push through controversial new hedge fund regulations next week have also cast a cloud over the fi
Read moreLondon afternoon: Coalition hopes lift Footsie
12th May 2010 15:07
Investors' attention remains firmly focused on the assembly of prime minister David Cameron's new government and his first press conference with new partner Nick Clegg. The pair seemed indistinguishable as they stood on the lawns of No 10 Downing St, but they were given an indication of the econom
Read moreLondon close: Deficit narrows
11th May 2010 16:34
Losses halved during the afternoon session as it looked increasingly likely the Liberal Democrats will jump into bed with the Conservative party and form a coalition government. Buyers nibbled at weak miners and banks, down sharply earlier on doubts about the €750bn Eurozone bailout plan. Kazakhmy
Read moreLondon afternoon: Political indecision weighs
11th May 2010 15:33
With still no decision on who's running the country and Wall Street deep in the red, London's FTSE 100 is nursing triple digit losses. Concerns about the €750bn bailout agreed by European governments to prevent economic collapse in the Eurozone also continue to weigh. Banks remain among the worst
Read moreFTSE 100 movers: Financials fall back
11th May 2010 14:48
Banks and financials have lost a large chunk of yesterday's gains and they are dragging the FTSE 100 index downwards as investors start to worry about the prospects for the €750bn bailout agreed by European governments to prevent economic collapse in countries that use the euro. Royal Bank of Scotl
Read moreSector movers: Banks and miners on the back foot
11th May 2010 13:16
Banks are among the worst performers on a tough day for the markets, most notably part-nationalised Royal Bank of Scotland. The taxpayer-owned bank has agreed to pay the US government $500m to settle charges it conspired to violate the US Bank Secrecy Act. The Department of Justice said ABN Amro,
Read moreLondon midday: Shares drift lower on bail-out doubts
11th May 2010 12:16
The leading share index is posting triple-digit losses as nerves set in over the prospects for the €750bn bailout agreed by European governments to prevent economic collapse in countries that use the euro. Banks are among the worst performers, most notably part-nationalised Royal Bank of Scotland.
Read moreLondon open: Blue chips retreat as uncertainty returns
11th May 2010 08:40
Footsie has given back some of the strong gains posted yesterday on the back of the euro bail-out. Uncertainty over who will govern the UK is to blame but there are also growing doubts over the substance of the euro plan. A string of company announcements is helping to deflect attention away from
Read moreLondon pre-open: Shares to give back some gains
11th May 2010 07:53
Footsie is expected to slump in early dealings as it gives up some of the strong gains posted yesterday on the back of the euro bail-out. Part-nationalised Royal Bank of Scotland has agreed to pay the US government $500m to settle charges it conspired to violate the US Bank Secrecy Act. The Departm
Read moreRBS agrees to forfeit $500m to US
11th May 2010 07:07
Part-nationalised Royal Bank of Scotland has agreed to pay the US government $500m to settle charges it conspired to violate the US Bank Secrecy Act. The Department of Justice said ABN Amro, the lender RBS bought in 2007, had helped banks and customers from blacklisted countries, such as Cuba, Iran
Read moreLondon close: Shares roar ahead after euro deal
10th May 2010 16:37
Markets were focused on the European debt crisis situation rather than the continuing political uncertainty here and, with European ministers having agreed a €720bn deal to prop up the euro, shares soared more than 200 points. Banks Barclays, Lloyds and Royal Bank of Scotland (RBS) all racked up do
Read moreSector movers: Banks and miners lead rally
10th May 2010 16:01
Banks are leading the advance on the back of the €720bn deal to prop up the euro agreed by ministers at the weekend. Barclays, Lloyds and Royal Bank of Scotland (RBS) all rack up double-digit percentage gains with Asia-focused bank Standard Chartered close behind. Market rumours suggest that RBS is
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