London open: Miners push Footsie higher
30th Mar 2010 08:55
London has started on a firm footing and is heading for its best month in decades with mining stocks in focus with BHP Billiton and Kazakhmys both making announcements. Mining giant BHP Billiton has successfully persuaded several of its iron ore customers in Asia to move to shorter term contracts.
Read moreRBS fined £29m for giving loan info to Barclays
30th Mar 2010 08:13
Royal Bank of Scotland has been fined £28.6m by the Office of Fair Trading after Barclays blew the whistle that information on loans to professional firms was passed between the two banks. RBS admitted the breaches of competition law between October 2007 and February or March 2008. The fine was red
Read moreLondon close: Shares limp higher
29th Mar 2010 17:02
A late recovery helped Footsie return to the blue by trading's close, though all in all it was a fairly directionless day. Vodafone climbed on reports over the weekend it is in talks about resolving the future of its US mobile phone joint venture, Verizon Wireless. Several options are being discus
Read moreFTSE 100 movers: Miners move ahead
29th Mar 2010 15:52
Miners are moving higher on the back of rising metal prices but they can't stop the Footsie falling slightly on the day. Even Rio Tinto shares are rising following the miner's attempts to distance itself from executive Stern Hu, who was sentenced to 12 years in jail in China on charges of bribery
Read moreLondon afternoon: Into the red
29th Mar 2010 14:23
All of Footsie's early gains have now been pulled back despite futures pointing to a decent start on Wall Street. Banks are dragging the index lower with losses now for both state-controlled banks, Lloyds and Royal Bank of Scotland. Vodafone is higher on reports over the weekend it is in talks a
Read moreLabour unveils Post Office Bank
29th Mar 2010 11:50
Low paid workers will be encouraged to save by receiving a 50p bonus for every pound they put into their accounts, under plans for a new 'Post Office Bank' unveiled by the government today. The new bank, expected be a key part of Labour's forthcoming election campaign, will be run through the Post
Read moreMPs call for 'radical reform' of banking system
29th Mar 2010 09:46
MPs are calling for "radical reform" of the UK banking system to prevent taxpayers from picking up the bill next time a lender fails. The Treasury Select Committee, which said that the public would not stand for another bail-out of the banks, urged ministers not to rule out the break-up of institut
Read moreRBS sells German factoring unit
29th Mar 2010 08:35
Part-nationalised lender Royal Bank of Scotland has agreed to sell its German factoring business to General Electric unit GE Capital for an undisclosed sum. The deal is subject to regulatory approval and expected to complete by the third quarter. RBS Factoring GmbH had gross assets of about €169m
Read moreMonday paper round-up: Election, Royal Bank of Scotland, ITV
29th Mar 2010 06:34
The Conservatives will try to seize the electoral initiative today with a pledge to reverse part of Labour's national insurance rise due to come into effect next year. After several weeks in which the Tory poll lead has narrowed, George Osborne, the Shadow Chancellor, will announce that the party
Read moreSunday paper round-up: RBS/Lloyds, Prudential, Desire Petroleum
28th Mar 2010 08:25
Advisers to the government are working on a secret plan that could allow the state to start cutting its shareholdings in British banks just weeks after the general election. The plot would see the Treasury create "convertible gilts" ? government bonds that could be exchanged for shares in the banks
Read moreLondon close: Market unmoved by Budget
24th Mar 2010 16:49
The blue-chip index finished marginally higher after a Budget that was light on bells and whistles While there was little in the Budget to excite anyone other than first-time buyers, cider drinkers and British occupants of Dominica, Grenada and Belize, the corporate news scene was busy, with half
Read moreFTSE 100 movers: Financials move higher
24th Mar 2010 15:38
Financials are moving ahead following the Budget. Banks seem to have been the major beneficiaries of the Chancellor's speech, with the absence of any bank bashing leading to firmer prices for part-nationalised lenders Royal Bank of Scotland and Lloyds Banking Group. Hedge fund manager Man Group e
Read moreLondon afternoon: Banks bounce after Budget
24th Mar 2010 14:42
The Chancellor of the Exchequer has delivered his Budget speech and the net effect has been to leave the Footsie barely changed on the day. Banks seem to have been the major beneficiaries of the Chancellor's speech, with the absence of any bank bashing leading to firmer prices for part-nationalised
Read moreLondon open: Early gains for blue chips
24th Mar 2010 08:39
Footsie has pushed on strongly after another day of big gains in the US yesterday. The Budget will dominate the headlines from lunchtime and banks are making progress in expectation that something will be said the government's stakes in the state-controlled banks, RBS and Lloyds. Foreign exchange
Read moreTuesday paper round-up: British Airways, VT Group, Royal Bank of Scotland
23rd Mar 2010 06:34
Passengers at two of Europe's largest airlines face a fresh wave of disruption lasting well into next month. Cabin crew at British Airways are ready to go on strike for four days from Saturday, having finished a three-day strike on Monday, while pilots at Lufthansa announced they would resume indus
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