RBS facing $13bn bill for mortgage bond claim
3rd Jul 2015 07:02
Royal Bank of Scotland faces a $13bn claim over allegations regarding its actions before the 2008 crisis, reports said. The bank was involved in a long running case in a US court over how it packaged mortgage bonds and sold them to government lenders overseen by the Federal Housing Finance Agency.
Read moreFriday newspaper round-up: RBS, EE, Aetna to buy Humana
3rd Jul 2015 06:54
RBS faces a $13bn bill in the US to resolve claims it misled purchasers of mortgage-backed securities, more than analysts had expected, writes the Financial Times. Ofcom has fined UK mobile phone operator EE £1m as a punishment for its poor customer services record, The Times writes. US health insu
Read moreRBS to cut back international operations
2nd Jul 2015 16:22
RBS has announced plans to minimise its services outside of Britain and Ireland. Only international clients with significant ties to those markets will be able to access the Edinburgh -based firm's cash management and trade finance services. Clients outside of this network will be referred to Frenc
Read moreLondon close: Stocks rebound as investors digest Greek rumours
1st Jul 2015 16:19
UK stocks bounced strongly on Wednesday after hitting a new five-month low the previous day as investors continued to digest the latest news flow from Greece, after Athens became the first developed economy to default on a debt repayment to the IMF. The FTSE 100, which settled at its lowest since 12
Read moreFTSE 100 movers: Travel and banking stocks surge, miners decline
1st Jul 2015 13:05
London markets were buoyed by strength in the travel and banking sectors, which offset weakness in mining and oil stocks. As of 14:30 BST, the FTSE 100 was trading 1.5% higher at 6,617. Travel and leisure stocks including Easyjet, IAG, TUI and IHG rebounded after a recent sell-off. The sector had b
Read moreLondon midday: Stocks surge on Greek deal hopes, but uncertainties remain
1st Jul 2015 12:07
Decent gains in the banking and travel sectors gave UK stocks a boost on Wednesday as sentiment was buoyed by hopes of a possible bailout deal in Greece. According to reports, Greek Prime Minister Alexis Tsipras will accept all his creditors' bailout conditions that were on the table last weekend, w
Read moreFTSE 100 movers: Financials and travel stocks plunge, gold miners higher
29th Jun 2015 13:19
UK markets plummeted on Monday, as Greece closed its banks and called a public vote to determine its future within the Eurozone. With just seven stocks on the FTSE 100 in positive territory, the UK index was down 1.5% at 6,655 as of 14:30 BST. Travel tour operator TUI dropped sharply as investors e
Read moreMonday newspaper round-up: Greece, UK banks, Samsung Bioepis
29th Jun 2015 06:46
Greece has temporarily shut down its banks and suspended trading on its stock market after the collapse of talks between Athens and its lenders and the ECB's decision to freeze life support for Greek banks, reports The Telegraph. An annual survey of the world's top 1,000 banks by The Banker has show
Read moreFTSE 100 movers: Admiral hit by downgrade, Tesco higher on bid speculation
25th Jun 2015 13:29
UK stocks inched lower on Thursday as investors continued to fret over the Greek debt crisis, with creditors issuing an ultimatum to Prime Minister Alexis Tsipras. As of 14:00, the FTSE 100 was trading 0.3% lower at 6,825. Insurer Admiral declined after Citigroup downgraded the stock to 'sell' from
Read moreRBS appoints new CFO at Williams & Glyn
25th Jun 2015 10:50
Royal Bank of Scotland has appointed Leigh Bartlett as chief financial officer of Williams & Glyn, the company that is being created from the sale of around 300 RBS branches and other business banking elements. Bartlett, who spent four years as CFO of Westpac New Zealand, will join Williams & Glyn o
Read moreWednesday newspaper round-up: Greece, Bank bonuses, Bouygues Telecom
24th Jun 2015 06:40
Berlin has said that Greece has until Monday for full legislative approval of its economic reforms before an extension of its bailout programme is presented to the Bundestag before it expires on Tuesday, the Financial Times reports. New rules by the Bank of England mean that top bankers could now fa
Read moreHSBC upgraded to 'buy' by Investec
22nd Jun 2015 10:45
Investec upgraded HSBC to 'buy' from 'hold' and raised the price target to 635p from 620p. The broker said HSBC's eagerly-anticipated investor day on 9 June left the market a touch underwhelmed. "We would characterise it as a promise of 'more of the same', i.e. sustained (high-return) growth in Hong
Read moreMonday newspaper round-up: Greece, RBS, Altice/Bouygoes Telecom
22nd Jun 2015 06:43
Greek creditors are hoping to secure a deal to stop Athens defaulting and leaving the euro by extending its bailout by six months and supplying up to €18n in rescue funds, writes The Guardian. However, officials stressed that progress hinged on a positive response from Greek PM Alexis Tsipras. RBS i
Read moreGoldman Sachs said to be advising government on sale of bank shares
19th Jun 2015 07:49
Goldman Sachs is reportedly set to advise the government on the sale of its remaining stakes in Britain's bailed-out lenders at the same time as one of its divisions tries to buy billions of pounds of bank assets from the taxpayer. According to Sky News, Goldman was hired as the privatisation advise
Read moreRBS confirms technical issues have been resolved
19th Jun 2015 07:38
Royal Bank of Scotland said on Friday that the recent technical issues experienced by some of its customers in relation to delayed credits and debits have now been resolved and accounts have been updated. "We are extremely sorry for the inconvenience and distress that this has caused our customers,"
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