UK banks to set aside a further £1bn for PPI compensation
22nd Jul 2014 12:29
The UK's biggest banks will next week announce that they have set aside a further £1bn to meet payment protection insurance (PPI) mis-selling related compensation claims, reports have claimed. According to Sky News, Royal Bank of Scotland, Lloyds Banking Group and Barclays will reveal in their hal
Read moreRBS censured by Australian watchdog
21st Jul 2014 13:48
Royal Bank of Scotland (RBS) attempted to influence daily inter-bank lending rate setting in Australia, the country's watchdog has found. The Australian Securities and Investment Commission (ASIC) said that it had made inquiries in 2012, to which RBS responded with an internal review, which indica
Read moreLondon midday: Stocks fall as tensions rise after Malaysia Airlines crash
18th Jul 2014 12:07
- Markets react to shooting down of Malaysia Airlines plane - Gaza fighting also weighing on sentiment - Shire and AbbVie strike £32bn takeover deal - UK competition watchdog orders banking probe techMARK 2,787.48 -0.41% FTSE 100 6,706.45 -0.47% FTSE 250 15,448.43 -0.68% Global geopolitical tensio
Read moreUK competition watchdog orders banking probe
18th Jul 2014 09:47
Britain's big banks could face a shake-up after the country's competition watchdog launched a probe into the industry. The banks' personal current accounts and small business banking were "not working well for customers", the Competition & Markets Authority (CMA) said in a statement. The CMA said
Read moreFriday newspaper round-up: Malaysia Airlines, Times Warner, UK banks...
18th Jul 2014 07:08
The president of Ukraine has accused pro-Russia rebels in the east of the country of shooting down a Malaysia Airlines jet with a ground-to-air missile, killing all 298 people on board as the airliner exploded and rained down in fiery pieces over a rural Ukrainian village. The huge loss of life thre
Read moreThursday newspaper round-up: Time Warner, Shire, BMW...
17th Jul 2014 06:47
21st Century Fox, the entertainment conglomerate run by Rupert Murdoch, may have to raise its audacious $80 billion bid for Time Warner to secure the biggest media takeover since the dot-com boom. 21st Century Fox offered $86 per share in cash and shares for its rival but the approach was rejected b
Read moreFTSE 100 movers: Tobacco stocks drop on Reynolds-Lorillard tie-up
15th Jul 2014 13:49
Share prices of tobacco rivals Imperial and British American both dropped on Tuesday as investors gave a cool reaction to the planned merger between US peers Reynolds and Lorillard, which involves both UK companies parting ways with a lot of cash. As part of the deal, Imperial is to buy a portfolio
Read moreFTSE 100 movers: LSE drops on Qatar sale, Portugal fears hit banks
10th Jul 2014 15:29
London Stock Exchange was one of the worst performers on the FTSE 100 on Thursday after Qatar Investment Authority cut its 15% stake in the exchange operator by a third ahead of the UK-listed firm's planned $1.6bn rights issue to fund the acquisition of Frank Russell. Concerns about contagion from
Read moreSector movers: Banks drop on fears over Portugal's banking sector
10th Jul 2014 14:33
UK-listed banking stocks felt the brunt of the sell-off on Thursday as concerns about Portugal's financial sector prompted investors to scale back risk appetite. The retreat followed widespread pressure across European equity markets after a missed debt payment by Espirito Santo International, the
Read moreLondon midday: Stocks fall for fourth straight day as BoE holds rates
10th Jul 2014 12:20
- FOMC minutes remove taper uncertainty - BoE decides to hold policy - Burberry gains, Barratt and AB Foods give up gains - Financials and airlines fall techMARK 2,759.10 -0.83% FTSE 100 6,659.30 -0.87% FTSE 250 15,358.40 -1.23% After a slow start, UK stocks sunk sharply into the red by Thursday l
Read moreLondon open: Central banks in focus as UK stocks open flat
10th Jul 2014 08:34
- FOMC minutes remove taper uncertainty - BoE policy decision due out at noon - Burberry, Barratt and AB Foods impress - LSE drops as Qatar cuts stake techMARK 2,785.94 +0.14% FTSE 100 6,722.04 +0.06% FTSE 250 15,553.32 +0.02% UK stocks opened more or less flat on Thursday as investors kept a clos
Read moreHigh street lenders "face complaints over loan letters" - UPDATE
4th Jul 2014 14:05
High street banks have been sending out letters demanding the repayment of overdue loans under the name of in-house solicitors made to appear as third parties, a media report revealed on Friday. The letters are usually sent under a different brand name and a different address to that of the banks,
Read moreLondon open: Markets subdued on quiet end to week
4th Jul 2014 08:58
- Quiet start, US markets closed - No economic data on tap - Airlines in focus after traffic stats techMARK 2,855.35 +0.12% FTSE 100 6,856.48 -0.13% FTSE 250 16,051.76 +0.14% After hitting a three-and-a-half week high the previous day, UK stocks opened slightly lower on Friday in a quiet end to a
Read moreSector movers: Barclays lawsuit and StanChart update sink banking stocks
26th Jun 2014 15:14
Claims of fraud and a disappointing trading update pushed UK banking stocks firmly lower on Thursday. Shares in Barclays plunged after a lawsuit was filed by the New York State Attorney General against the group's "dark pool" trading division. The complaint was made specifically in relation to it
Read moreThursday newspaper round-up: Iraq, RBS, Mortgage lending...
26th Jun 2014 07:24
American, Iranian and Syrian military aircraft buzzed the skies of Iraq yesterday, conducting parallel surveillance missions and airstrikes as the global battle to halt a Sunni militant offensive grew more intense and complex, drawing in old enemies to the same side. While the southward offensive to
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