London open: Flat start ahead of payroll figures
6th Nov 2009 08:37
London's top stocks have made a cautious start as investors reflect on more huge losses at British Airways and Royal Bank of Scotland. Later today the keenly watched US monthly non-farm payroll figures also come out. British Airways reported a record loss of £292m and urged Unite to withdraw its p
Read moreLondon pre-open: Gains ahead despite corporate losses
6th Nov 2009 07:37
London's top stocks are expected to open around 20 points higher despite news of huge losses at British Airways and Royal Bank of Scotland. British Airways reported a record loss of £292m and urged Unite to withdraw its plans for a strike ballot and resume talks with the carrier. The loss before t
Read moreRBS posts another huge loss
6th Nov 2009 07:03
More huge write-offs sent Royal Bank of Scotland deep into loss over the past three months. The state-controlled bank that on Tuesday announced another £33bn cash injection from the government lost £2.1bn in the three months to September compared to a profit of £1.9bn. Nine-month losses now total
Read moreThursday newspaper round-up: RBS, Vauxhall, Channel 4
5th Nov 2009 06:05
Senior managers at the Royal Bank of Scotland are scrambling to prevent widespread resignations following the publication of the bank's stringent bonus policy. City headhunters said they have been inundated with CVs from RBS bankers following the news that there would be no cash bonuses for 2009, sa
Read moreLondon close: Footsie down but above 5,000
3rd Nov 2009 16:24
London's blue chips ended off session lows and back above the 5,000 level, helped by positive reaction to announcements from Lloyds Banking and Legal & General. Royal Bank of Scotland (RBS) remained resolutely out of favour, however, as the market reacted negatively to the revised terms of its part
Read moreLondon afternoon: Market licking its wounds
3rd Nov 2009 14:11
The FTSE 100 index clawed its way back above the 5,000 level over the lunch-time session, helped by positive reaction to announcements from Lloyds Banking and Legal & General. Royal Bank of Scotland (RBS) remains resolutely out of favour, however, as the market reacted negatively to the revised ter
Read moreFTSE 100 movers: Banks split after latest cash calls
3rd Nov 2009 13:54
Banks dominate the day as investors try to get their heads around the sheer size of the sums being pumped into Royal Bank of Scotland and Lloyds. Lloyds is the best performer on hopes that once it is clear of the government's asset protection scheme it might be able to make something of its disatro
Read moreBroker tips: RBS, Ryanair, AB Foods
3rd Nov 2009 13:06
The market has reacted badly to the revised terms of Royal Bank of Scotland's participation in the government's asset protection scheme, and the analysis from stockbroker Killik implies it has been right to do so. 'In order to promote greater competition in UK banking and to meet EU State Aid rules
Read moreBroker snap: Uncertainty still hanging over RBS
3rd Nov 2009 13:05
The market has reacted badly to the revised terms of Royal Bank of Scotland's participation in the government's asset protection scheme, and the analysis from stockbroker Killik implies it has been right to do so. 'In order to promote greater competition in UK banking and to meet EU State Aid rules
Read moreLondon midday: Retreat turns into a rout
3rd Nov 2009 12:08
The list of FTSE 100 constituents is bereft of risers, as stocks move swiftly into reverse while the market digests developments relating to the part-nationalised UK banks. The government is injecting another £25.5bn into Royal Bank of Scotland (RBS), with a further £8bn available if things get wo
Read moreLondon open: Mixed reception for latest bank rescues
3rd Nov 2009 08:52
Footsie is lower as investors assess confirmation of bonus curbs, dividend cuts and asset sales from Royal Bank of Scotland and a £21bn cash call from Lloyds Banking Group. RBS will not be allowed to pay dividends for the next two years and have to divest its insurance arm and a raft of other busin
Read moreRBS and Lloyds ditch bonuses for government cash
3rd Nov 2009 08:33
Royal Bank of Scotland (RBS) and Lloyds Banking Group have agreed to defer bonuses for this year and break up their businesses in return for tens of billions of pounds of extra state aid. Neither bank will pay discretionary cash bonuses for 2009 to any staff earning above £39,000, while both boards
Read moreLondon pre-open: Banks to feature early on
3rd Nov 2009 07:40
Expect an early 50-point slide as investors assess confirmation of dividend cuts and asset sales from Royal Bank of Scotland and a £21bn cash call from Lloyds Banking Group. RBS will not be allowed to pay dividends for the next two years and have to divest its insurance arm and a raft of other busi
Read moreGovernment injects £25.5bn into RBS
3rd Nov 2009 07:03
Royal Bank of Scotland will curb bonuses, not pay dividends for the next two years and sell its insurance arm and a raft of other businesses as the cost of joining the UK government's asset protection scheme(APS). To comply with EU State Aid requirements, RBS has agreed to divest the RBS branch net
Read moreTuesday newspaper round-up: Royal Bank of Scotland, Lloyds, ITV
3rd Nov 2009 06:12
The Government will today announce plans to inject a further £40bn of taxpayers' money into Royal Bank of Scotland and Lloyds Banking Group as part of a fresh, wide-ranging restructuring of the UK banking sector. The sum is higher than expected because RBS will take about £25bn in new "B" shares an
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