RBS promises more branch closures, stays neutral on Scottish independence
25th Jun 2014 15:06
Royal Bank of Scotland intends to continue slimming down its branch network as high street transactions decline and online banking soars. RBS Chairman Philip Hampton forewarned that further branch closures were "inevitable" with some functions perhaps replaced by alternatives such as the Post Offic
Read moreWednesday newspaper round-up: Bank of England, US oil, RBS
25th Jun 2014 07:31
Bankers seized on fresh evidence that the housing market may be starting to cool to urge the Bank of England to stay its hand and refrain from widely expected curbs on mortgage lending tomorrow. The British Bankers' Association described new data yesterday showing that mortgage approvals fell for th
Read moreSunday newspaper round-up: Tesco, AstraZeneca, Asos
22nd Jun 2014 13:02
Some of Tesco's biggest shareholders have complained to the retailer's senior independent director (Sid) about its strategy and management, the Sunday Times said. An unidentified top 10 shareholder said it expressed its concerns with the Sid, Patrick Cescau, and not Tesco's Chairman, Sir Richard Bro
Read moreThursday newspaper round-up: Mysale, Float, Lidl
19th Jun 2014 07:29
Mike Ashley has taken a £12m stake in MySale and signed a joint venture agreement with the online retailer ? just days after it floated on AIM. The stake-building and strategic joint venture unites two of Britain's richest retailers. Sir Philip Green, the billionaire owner of TopShop, is one of MySa
Read moreRBS to reduce branch managers from NatWest unit
18th Jun 2014 17:09
Royal Bank of Scotland (RBS) is planning to reduce the number of its branch managers from its NatWest division in England and Wales by 245, the state-backed lender announced on Wednesday. The bank will slash 361 branch managers but create 116 jobs at a more senior level by linking more of its branc
Read moreTuesday tips round-up: RBS, Mitchells & Butlers
17th Jun 2014 06:56
Shares in RBS have barely budged year-to-date. However, come August 1st, when Chief Executive Ross McEwan presents the bank´s halfway figures, he will be able to boast that progress is being made. Firstly, he is extracting the lender from its Ulster Bank subsidiary, even if the value attached to tha
Read moreFTSE 100 movers: Precious metals miners lead gains
16th Jun 2014 15:05
Fresnillo, Randgold Resources, Glencore, BHP Billiton and Anglo American were all tracking metals prices higher. Glencore was also lifted by Investec, which moved its target price from 302p to 319p and upgraded the stock from 'reduce' to 'hold'. Driven higher by supply concerns, rising oil prices
Read moreLondon midday: Stocks extend multi-week lows on Iraq fears
16th Jun 2014 11:29
- Stocks inch lower, trading at six-week low - Markets "pause for breath" after sell-off, says analyst - Iraq concerns keep pushing crude prices higher - Smith & Nephew falls on Medtronic-Covidien tie-up techMARK 2,792.67 -0.80% FTSE 100 6,759.65 -0.27% FTSE 250 15,680.35 -0.85% Bargain hunters we
Read moreRBS in talks to restructure Ulster Bank
16th Jun 2014 08:14
Royal Bank of Scotland (RBS) is in talks with private equity groups to boost the balance sheet of its Ulster Bank unit. Private equity groups Warburg Pincus, CVC, KKR and Permira are all said to be looking into a proposal to inject money into the Irish business before it is merged with another Iris
Read moreMonday newspaper round-up: RBS, Smith&Nephew, Alstom
16th Jun 2014 07:24
Royal Bank of Scotland is in talks over a restructuring of its Ulster Bank unit that could overcome a hurdle to selling some of the government's majority stake. The taxpayer-backed lender is working on a plan to attract private equity into Ulster to boost its capital position before the business is
Read moreSunday newspaper round-up: RBS, British Land and Hammerson, BT
15th Jun 2014 18:25
Royal Bank of Scotland is in talks with US buyout firm Warburg Pincus about a rescue plan for the lender's troubled Ulster Bank Irish business, the Sunday Times reported. The plan would involve private equity firms injecting capital into Ulster Bank and then merging it with another bank, probably Ir
Read moreBroker tips: RBS, Johnson Matthey, Ocado
12th Jun 2014 12:41
Investec has cut its rating for Royal Bank of Scotland (RBS) from 'hold' to 'sell', saying it sees downside after a recent run in the share price. "Following RBS' latest +16% six-week 'spike' we believe that the share price (once again) reflects a triumph of hope over reality and should duly correc
Read moreInvestec downgrades RBS to 'sell' after recent run
12th Jun 2014 09:26
Investec has cut its rating for Royal Bank of Scotland (RBS) from 'hold' to 'sell', saying it sees downside after a recent run in the share price. "Following RBS' latest +16% six-week 'spike' we believe that the share price (once again) reflects a triumph of hope over reality and should duly correc
Read moreTuesday broker round-up UPDATE
12th Jun 2014 08:50
Afren: Oriel downgrades from buy to hold with a target price of 145p. Aggreko: RBC Capital downgrades to neutral with a target price of 1700p. Betfair Group: Morgan Stanley raises target price from 1150p to 1260p and keeps an overweight rating. BG Group: Nomura downgrades to neutral with a target
Read moreUK Mail Finance and Operations Directors build stakes
9th Jun 2014 15:46
The Group Finance Director and Group Operations Director of UK Mail have both upped their company holdings with the purchase of 4,000 shares each. Both Steven Glew and Carl Moore spent 627p a share, giving each of the deals a trade value of £25,080. The transactions come just a few weeks after t
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