Credit Suisse arrives at $5.3bn settlement with US
19th Jan 2017 15:30
(ShareCast News) - Credit Suisse has come to a $5.3bn agreement with the US Department of Justice to settle the investigation into the bank's involvement in selling toxic mortgage debt before the last financial crisis. The investment bank will pay a $2.5bn civil penalty and $2.8bn in consumer relief
Read moreRBS might book charge for US RMBS litigation in Q4, report says
19th Jan 2017 14:23
(ShareCast News) - State-owned RBS might book a charge for expected litigation charges stemming from the US Department of Justice´s probe into its role in that country´s sub-prime mortgage meltdown which ensued during the last financial crisis as soon as in its fourth quarter eanings statements. Boo
Read moreGoldman Sachs downgrades RBS on valuation
16th Jan 2017 07:43
(ShareCast News) - Goldman Sachs downgraded Royal Bank of Scotland to 'neutral' from 'buy' on valuation grounds and removed the stock from its Pan-Europe Buy List, but upped the price target to 270p from 240p. GS noted the stock is up 47% from its lowest point following the EU referendum and at the
Read moreSector movers: Banks lead gains as Gilt yields resume rise
3rd Jan 2017 15:02
(ShareCast News) - Banks spearheaded gains as government bond yields jumped back following the declines seen at the end of 2016 amid stronger-than-expected readings on economic activity and prices on both sides of the Atlantic. As of 1543 GMT the yield on the benchmark 10-year Gilt was up 11 basis p
Read moreRBS shareholders recommend committee to improve corporate governance
30th Dec 2016 10:24
(ShareCast News) - Royal Bank of Scotland has reportedly been asked by more than 160 investors to create a committee of shareholders to improve its corporate governance in order to shield the bank against another financial crash. Shareholder groups ShareSoc and UKSA will submit the proposal at the b
Read moreRBS, Barclays among banks fined by Swiss regulator for rate rigging
21st Dec 2016 09:19
(ShareCast News) - Royal Bank of Scotland and Barclays were among the banks fined CHF99m (£78m) by the Swiss competition regulator for interest rate rigging in four separate cartels. The regulator, COMCO, also fined US banks JP Morgan Chase and Citigroup, Deutsche Bank, Societe Generale and Credit S
Read moreFTSE 100 movers: Centrica rallies while miners in the doldrums
15th Dec 2016 14:49
(ShareCast News) - The FTSE 100 index was up 0.72% to 6,999.01 points in the late afternoon. Bank stocks rose after the Fed raised interest rates 25 basis points and struck a more hawkish tone than expected, signalling three hikes next year. RBS shares gained as a result. Centrica advanced as it pu
Read moreSunday newspaper round-up: Brexit challenge, US rate hike, Sky revolt, RBS
11th Dec 2016 17:28
(ShareCast News) - Another legal spanner has been thrown into the works of the government's Brexit plans, with a High Court challenge to attempt to prevent the UK from pulling out of the European single market. The Sunday Times reported that claimants, including Peter Wilding of the British Influenc
Read moreRBS agrees payout to some investors over rights issue row
5th Dec 2016 07:10
(ShareCast News) - Royal Bank of Scotland said it had agreed payouts to some shareholders to settle allegations that it misled them ahead of a £12bn rescue rights issue in 2008 at the outbreak of the financial crisis. RBS said it had concluded "a full and final settlement with three out of the five
Read moreRBS fails stress tests, Barclays and StanChart stumble over hurdles
30th Nov 2016 07:33
(ShareCast News) - Royal Bank of Scotland has been forced to submit plans to improve its capital position after failing the Bank of England's annual stress tests, while rivals Barclays and Standard Chartered stumbled over some hurdles but not badly enough to require raising new funds. Despite these
Read moreCredit Suisse sees big Barclays rerating, neutral on Lloyds and HSBC
29th Nov 2016 10:02
(ShareCast News) - Credit Suisse initiated coverage on a number of UK banks on Tuesday, as it noted the regulatory agenda is heating up, starting with the stress test results on Wednesday, for which it reckons banks are "reasonably well placed". It started Barclays at 'outperform' with a 260p price
Read moreFTSE 100 movers: Banks and retailers pace drop
28th Nov 2016 17:08
(ShareCast News) - Banks and retailers were among the weakest segments of the market at the start of the week. Share price falls in Italian lenders ahead of the 4 December referendum on constitutional reform appeared to crystallise worries about that country´s banking system and fed negative sentime
Read moreRBS share sale hindered by US settlement, says UKFI chairman
16th Nov 2016 17:19
(ShareCast News) - Chairman of UK Financial investments (UKFI), the agency that manages Britain's stakes in bailed out banks, James Leigh-Pemberton said that the Royal Bank of Scotland's potential fine from the US Department of Justice is hindering the government's share sale plans, according to a r
Read moreSector movers: Banks lead gains as strategists raise US yield forecasts
14th Nov 2016 14:40
(ShareCast News) - Shares in banks and life insurance outfits continued to pace gains as Treasury yields kept moving higher in the States on expectations for a fiscal spending boost under the new Administration, pulling interest rates across the globe up with them. For the most part, analysts app
Read moreBank of England introduces new bailout rules
8th Nov 2016 13:09
(ShareCast News) - Bank of England has given UK lenders an additional two years to accrue enough funds so that they will not be reliant on taxpayer bailouts if they fail. "The new rules will be introduced in two phases," Bank of England said in a statement on its website. "Banks will be obliged to
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