London close: Stocks erase gains as investors weigh US budget, Fed policy
11th Dec 2013 17:01
- Taper speculation picks up after budget deal - Imagination Technologies drops sharply on H2 guidance - RBS, Lloyds lead banks lower - Defence stocks rise on US budget techMARK 2,674.83 +0.08% FTSE 100 6,507.72 -0.24% FTSE 250 15,396.12 -0.10% After a choppy session, UK markets sank into the red
Read moreFTSE 100 movers: easyJet, BAE Systems, BT Group
11th Dec 2013 15:22
easyJet soared to the top of the FTSE 100 on Wednesday after the airline was upgraded by Goldman Sachs to 'conviction buy'. The bank cited the group's ability to grab market share in the short-haul market in Europe as legacy carriers restructure. Defence and security company BAE Systems gained afte
Read moreLondon midday: Markets edge higher after US budget deal, Imagination plummets
11th Dec 2013 11:16
- US agrees on budget deal ahead of Friday deadline - RBS, Lloyds, StanChart lead banks lower - Imagination plummets on cautious guidance techMARK 2,683.01 +0.39% FTSE 100 6,537.76 +0.22% FTSE 250 15,471.94 +0.40% UK markets edged higher on Wednesday morning, with concerns over politician brinkman
Read moreLondon open: Markets flat on budget deal, taper speculation
11th Dec 2013 08:28
- US negotiators reach budget deal - Taper speculation ramps up ahead of Fed meeting - Imagination disappoints with poor H2 outlook - RBS Finance Director Bostock steps down techMARK 2,678.82 +0.23% FTSE 100 6,524.52 +0.02% FTSE 250 15,401.84 -0.06% Markets opened broadly flat on Wednesday in the
Read moreTesco Bank current account launch will slow profits growth
11th Dec 2013 08:26
Tesco's banking arm has revealed plans to launch its current account in the new year but admitted this will hit profits at the division. Benny Higgins, Chief Executive of Tesco Bank, cautioned that profitability will be "tempered" for a period as a new account takes "quite a few years" to reach mat
Read moreWednesday newspaper round-up: US budget, RBS, Fracking...
11th Dec 2013 07:25
Democratic and Republican negotiators on Tuesday night agreed a deal to set spending levels until 2015, breaking the latest fiscal logjam in Congress and stopping a cycle of crisis-driven economic policy making in Washington. The agreement is small in size - worth 85bn dollars - but may herald the r
Read moreRBS finance director leaves to join Santander UK
11th Dec 2013 07:12
The Royal Bank of Scotland (RBS) has confirmed Nathan Bostock will resign from his role as Group Finance Director - less than 10 weeks after joining the board. Bostock, who was appointed on October 1st, has left to join Spanish bank Santander's UK arm as its Chief Risk Officer and Deputy Chief Exec
Read moreLondon open: Stocks at one-week high, Lloyds gains
10th Dec 2013 08:17
- UK market at highest since December 2nd - S&P 500 hits 39th record close this year - Taper speculation picks up ahead of Fed meeting - Carney calls for sustained low rates techMARK 2,684.69 +0.19% FTSE 100 6,567.32 +0.12% FTSE 250 15,424.59 +0.21% UK markets opened with small gains on Tuesday mo
Read moreLondon open: Markets flat as investors digest mixed data from Asia
9th Dec 2013 08:53
- Markets still digesting non-farm payrolls - Chinese export growth picks up - Japan Q3 GDP revised lower techMARK 2,678.36 +0.29% FTSE 100 6,553.51 +0.02% FTSE 250 15,359.05 +0.27% Markets opened more or less flat on Monday morning as investors continued to digest last week's strong US data, as w
Read moreRBS reports hacking incident
6th Dec 2013 15:58
The Royal Bank of Scotland's (RBS) banking platform was hacked on Friday, creating issues for customers trying to access their online accounts. The lender said a rise in internet traffic directed at its NatWest website at about 11:30 GMT was a deliberate attempt to disrupt its service. The method
Read moreInstitutional investors sue RBS and S&P
5th Dec 2013 11:58
A group of institutional investors have sued Royal Bank of Scotland and rating agency Standard & Poor's for damages due to the financial crisis. A group of 16 continental institutions has filed a class-action claim in Amsterdam for $250m relating to constant-proportion debt obligations (CPDOs), a
Read moreRBS and other banks fined 1.7bn euro by EC for rate rigging - UPDATE
4th Dec 2013 13:15
Royal Bank of Scotland (RBS) was one of five major banks to be hit with a record-breaking 1.7bn euro fine from the European Commission for their part in rigging interest rates, while Barclays escaped a fine due to its whistleblowing role. RBS, 81% owned by the state, received a £325m fine, around
Read moreRBS boss admits 'decades' of IT neglect after system crash
3rd Dec 2013 14:45
Royal Bank of Scotland (RBS) boss Ross McEwan has confessed that the lender has neglected its technology for decades after a system failure left more than one million customers unable to access their accounts. The bank's IT system came under scrutiny after the crash on Cyber Monday, which lasted th
Read moreLondon midday: Miners, financials drag markets lower despite strong UK data
3rd Dec 2013 11:21
- Risk appetite fades as markets await jobs data - Mining, financial sectors sold off - UK construction PMI defies expectations, jumps to six-year high techMARK 2,645.44 -0.31% FTSE 100 6,539.87 -0.84% FTSE 250 15,211.51 -0.80% UK markets were firmly in negative territory on Tuesday morning despit
Read moreBroker tips: Old Mutual, Banks, Miners
3rd Dec 2013 11:21
JPMorgan Cazenove has trimmed its target price for savings and investment group Old Mutual from 228p to 223p. after adjusting for currency movements. However, the bank maintained its 'overweight' rating on the stock, highlighting attractive and improving returns from its emerging market life busin
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