Sector movers: RBS drags leads banks lower
8th Dec 2009 14:55
Royal Bank of Scotland is leading the banking sector lower. Trading in the state-controlled bank briefly stopped trading and it went into 'auction' as the price tumbled below 30p, though it has since recovered a little. The auction process is used when a company's share price falls, or rises too q
Read moreLondon midday: RBS dominates as rumours fly
8th Dec 2009 12:16
Footsie has turned down sharply with Royal Bank of Scotland dominating the morning. Trading in the state-controlled bank briefly stopped trading and it went into 'auction' as the price tumbled below 30p, though it has since recovered a little. The auction process is used when a company's share p
Read moreRBS trading briefly halted as shares tumble
8th Dec 2009 11:42
Royal Bank of Scotland (RBS) shares dropped below 30p today, almost matching last week's lows of 29.62p, and temporarily went into auction for 5 minutes at about 11:36am today, to stem the decline. The auction process is used when a company's share price falls, or rises too quickly in a short space
Read moreFTSE 100 movers: RBS remains a concern
8th Dec 2009 11:20
It has been a mixed day for banks. Royal Bank of Scotland tops the worst performers and Standard Chartered is also in decline but Lloyds Banking Group is one of the best performers. The prospect of the inclusion a windfall tax on bonuses in tomorrow's pre-budget report is worrying the sector, but
Read moreTuesday newspaper round-up: Alistair Darling, Royal Bank of Scotland, Gilts
8th Dec 2009 06:31
Top investment banks, including Goldman Sachs and Deutsche Bank, are being lobbied by the government to contribute tens of millions of pounds to a new lending initiative for credit-starved small businesses. Executives from global financial institutions were called to a meeting on Monday with Alista
Read moreLondon close: Lower finish for FTSE 100
7th Dec 2009 16:59
Footsie staged a recovery after a poor start early on and edged into positive territory in the afternoon but closed slightly lower. Rumours of a windfall tax in Wednesday's pre-Budget report rattled the banks. Royal Bank of Scotland, Lloyds Banking, Barclays and HSBC fell on suggestions that the Ch
Read moreFTSE 100 movers: Banks worried by tax talk
7th Dec 2009 15:15
Blue chips have recovered a little as US markets have opened brightly. Travel groups are doing well after an upbeat note form Panmure Gordon. The broker reduced its share price target for TUI Travel to 325p (from 360p) but with c32% upside potential "we retain our buy recommendation," it added. Ba
Read moreLondon afternoon: Banks slide on tax fears
7th Dec 2009 14:39
Leading shares recouped some of their losses over the lunchtime trading session but the Footsie remains in negative territory, largely due to the weakness of banks and miners. Rumours of a windfall tax in Wednesday's pre-Budget report has rattled the banks. Royal Bank of Scotland, Lloyds Banking, B
Read moreLondon midday: Footsie rally fizzles out
7th Dec 2009 12:07
Footsie is going nowhere at present with the banks and miners sending the leading share index lower. Miners are under pressure with the improvement in the dollar. Better than expected US non-farm payroll figures last week have sparked speculation that the US could start to tighten monetary policy s
Read moreSunday newspaper round-up: Royal Bank of Scotland, Cadbury, Pre-Budget
6th Dec 2009 10:27
More than 1,000 investment bankers have quit Royal Bank of Scotland to join rival firms for guaranteed cash bonuses and big salary increases, according to banking sources. The staff exodus, which has cut a swathe through the senior ranks of RBS, has been gathering pace since the government first o
Read moreLondon afternoon: Stocks bounce into the blue after US jobs
4th Dec 2009 14:20
Share prices have surged higher as the keenly watched US monthly jobs figures showed a big drop in the number losing their jobs and an unexpected drop in the level of US unemployment. Miners are leading the rally with Rio Tinto the best performer. Other gainers include ENRC and oil explorer Cairn E
Read moreLondon midday: Stocks treading water
4th Dec 2009 12:17
Share prices are stabilising at lower levels as investors wait on the big US jobless announcement due at 1:30pm. Banks are on the back foot after a lukewarm note on the sector from JP Morgan. The US bank is particularly down on part-nationalised bank Royal Bank of Scotland, which it advises its cli
Read moreLondon open: Weak start for blue chips
4th Dec 2009 08:45
Footsie has fallen back in early dealings after a dip in the US last night while the bank bonus row has spread to Lloyds. Shares in Lloyds and Royal Bank of Scotland are both under pressure. A report in the Times this morning suggested 200 Lloyds executives will get a bonus of 80% of their salary f
Read moreLloyds starts fresh row over bonuses
4th Dec 2009 08:38
Gordon Brown hopes that a promise to Royal Bank of Scotland that it won't be singled out for tough treatment on pay will prevent high level resignations, but a new row at Lloyds threatens to fuel the debate on bonuses. It emerged last night that 200 bright lights at part-nationalised lender Lloyds
Read moreFriday newspaper round-up: Lloyds, Royal Bank of Scotland, Tesco
4th Dec 2009 06:31
A fresh row over City bonuses is set to engulf ministers after it emerged last night that 200 executives at Lloyds, the partly state-owned bank, are set to receive one-off payments worth up to 80% of their annual salaries. They will receive the money for integrating Lloyds with HBOS, which has led
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