Broker snap: Nomura names Barclays as top pick amongst banks, HSBC downgraded
3rd Dec 2013 09:37
Barclays is the top pick in the UK banking sector, according to Nomura, which retained its 'buy' rating for the stock on Tuesday morning. The broker also kept a positive stance on Standard Chartered, but downgraded its rating for HSBC and reiterated its negative position on RBS. Lloyds, meanwhile,
Read moreLondon open: Mining stocks drag UK markets lower early on
3rd Dec 2013 08:27
- Miners fall after steep drop in metal prices yesterday - Risk appetite scaled back ahead of US jobs report - HSBC downgraded by Nomura to 'neutral' techMARK 2,657.15 +0.13% FTSE 100 6,580.97 -0.22% FTSE 250 15,306.73 -0.18% Continued weakness in the mining sector dampened the FTSE 100 in London
Read moreTuesday newspaper round-up: BP, China, Royal Bank of Scotland
3rd Dec 2013 07:00
BP won a big victory in its battle to limit the cost of compensation for its 2010 oil spill in the Gulf of Mexico after an appeals court called for an injunction to suspend payments to businesses that had not suffered losses as a result of the disaster. A majority on a three-judge panel of the Fifth
Read moreRBS to pay 500m pounds in bonuses
2nd Dec 2013 14:16
Royal Bank of Scotland (RBS) is expected to hand out 500m pounds in bonuses amid a series of scandals. The 81% state-backed lender is under investigation by regulators after government adviser Lawrence Tomlinson accused the bank of putting good and viable small businesses into default to make a pro
Read moreMonday newspaper round-up: China, Protectionism, RBS
2nd Dec 2013 09:16
China's Premier, Li Keqiang today raised the prospect of China playing a major role in the construction of the HS2 high speed rail project in Britain. At a post-summit briefing in Beijing's Great Hall of the People, Mr Li was at pains to highlight the project as he spoke about Britain's expanding st
Read moreSunday newspaper round-up: UK economy, RBS, Tesco
1st Dec 2013 16:13
The Office for Budget Responsibility (OBR) will say the economy is growing at twice the rate it forecast in March, the Sunday Telegraph and Sunday Times reported. The OBR will say 2013 growth has jumped to 1.4% from the 0.6% it predicted eight months ago. Next year the economy will grow by about 2.3
Read moreRBS hits back at claims of profiting from defrauding small businesses
28th Nov 2013 09:25
The Royal Bank of Scotland (RBS) has dismissed claims that the lender put good and viable small businesses into default so the lender could make more profit. RBS is facing a criminal investigation into allegations that the bank's lending division, Global Restructuring Group, defrauded distressed c
Read moreRBS sells remainder of stake in WorldPay
27th Nov 2013 12:32
Banking giant Royal Bank of Scotland has disposed of its remaining stake in the WorldPay global payments business, it was announced Wednesday. The group sold the 20% interest for a gain of £160m, which it expects to record in its 2013 results. The transaction is subject to regulatory approval wh
Read moreWednesday newspaper round-up: Amec, RBS, German coalition
27th Nov 2013 08:07
Amec is stalking its American rival Foster Wheeler with a view to potentially pulling off a deal to create a 5bn pound energy services group. Weeks after walking away from a £700m hostile takeover approach for Kentz, Amec is understood to be taking a serious look at a bigger transaction with the acq
Read moreTuesday tips round-up: RBS, Premier Oil
26th Nov 2013 08:42
Royal Bank of Scotland came under fire from all sides on Monday. One report accused it of lending too little to small businesses, while yet another accused it of treating those businesses badly when it does lend to them. The reports pose difficult questions about RBS's future. Simply put, left out o
Read moreTuesday newspaper round-up: RBS, RWE, Iran
26th Nov 2013 07:53
According to The Times, RBS is facing fresh break-up calls after an advisor to the Department for Business called yesterday for it and Lloyds to be split into six retail banks. Lawrence Tomlinson, advisor to Vince Cable, suggested that RBS had "pushed healthy small and medium-sized enterprises into
Read moreRBS faces investigation into claims of hurting small businesses
25th Nov 2013 09:03
Royal Bank of Scotland (RBS) has been accused of putting good and viable small businesses into default so the lender could make more profit. Business Secretary Vince Cable has sent the report, about how RBS dealt with the businesses, to the Financial Conduct Authority and the Prudential Regulation
Read moreSunday newspaper round-up: Iran, RBS, Babcock
24th Nov 2013 16:46
The interim deal between Iran and six world powers hammered out in the small hours of November 24th to curb the former's nuclear programme is a long way from perfect, but it meets two key tests. The first is that it will extend Iran's so-called "critical capability"?the time needed for it to produce
Read moreLondon close: Stocks rise ahead of FOMC minutes as Aberdeen surges
18th Nov 2013 16:23
- Aberdeen leads financials higher after SWIP purchase - Petrofac plummets on cautious outlook - Fed speculation ramps up ahead of FOMC minutes techMARK 2,653.19 +0.15% FTSE 100 6,723.46 +0.45% FTSE 250 15,290.48 +0.29% UK markets posted decent gains on Monday with the financial sectors providing
Read moreSector movers: Aberdeen boosts financials, Petrofac dampens oil services
18th Nov 2013 15:02
Aberdeen Asset Management was a high riser in London on Monday, providing a lift to the financial sectors as investors celebrated the company's annual results and acquisition of Scottish Widows Investment Partnership (SWIP). The fund management group said that it would buy SWIP from Lloyds for £550
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