RBC buys Coutts units from Royal Bank of Scotland March 20, 2012 Royal Bank of Canada (RBC) will buy some overseas divisions of the Coutts private banking business from Royal Bank of Scotland (RBS), giving RBC access to high net worth individuals in fast-growing emerging markets. Canada’s largest bank is buying Coutts’ Latin American, Caribbean and African private banking arms, which managed around £1.5bn of assets, in [...]
Direct Line to cut 236 more jobs to save cash November 29, 2012 MOTOR insurer Direct Line yesterday said it was exploring plans to slash a further 236 jobs in a bid to reach its £100m cost cutting target announced in September. The firm, which recently revealed pricing for its public float, said the job losses would come across its commercial, risk and compliance and chief customer office [...]
Hilco snaps up HMV debt pile to take control January 22, 2013 HMV was given a potential lifeline yesterday after restructuring firm Hilco bought the crisis-hit music retailer’s debt for about £40m, effectively giving it control of the group. Hilco – which already owns HMV Canada – confirmed yesterday it had acquired HMV’s debt from the group’s consortium of lenders led by the Royal Bank of Scotland [...]
M&S’s board still backs Marc Bolland but its patience will not last forever January 9, 2013 THIS was no ordinary trading statement. If Marc Bolland, the Marks & Spencer chief executive, had sold an item from his womenswear ranges last autumn every time the retailer’s advertising slogan had been parroted back at him, he’d have wiped the floor with the rest of the high street. Last night’s hastily-released quarterly trading update [...]
What the other papers say this morning January 3, 2013 FINANCIAL TIMES F&C’s Bramson lines up target Edward Bramson, the activist investor who is executive chairman of F&C Asset Management, is preparing to take on another midsized UK public company. He has launched a second Guernsey vehicle, backed by Soros Fund Management, that will sit alongside Sherborne Investors Guernsey A, the fund through which Mr [...]
RBS ups PPI provision as profits slump November 2, 2012 Royal Bank of Scotland has upped its provision for payment protection insurance (PPI) by £400m, as it reported a pre-tax loss for the third quarter. The high street bank has now put aside £1.7bn in total for PPI redress. Over the three months to September, RBS reported a pre-tax loss of £1.26bn, down from £2bn [...]
RBS ups PPI provision as profits slump November 2, 2012 Royal Bank of Scotland has upped its provision for payment protection insurance (PPI) by £400m, as it reported a pre-tax loss for the third quarter. The high street bank has now put aside £1.7bn in total for PPI redress. Over the three months to September, RBS reported a pre-tax loss of £1.26bn, down from £2bn [...]
What the other papers say this morning December 18, 2012 FINANCIAL TIMES Greek bet pays off for hedge fund One of the world’s most prominent hedge funds is sitting on a $500m (£308m) profit after making a bet that Greece would not be forced to leave the Eurozone, bucking the trend in a difficult year for the industry. Third Point, headed by the billionaire US [...]
RBC snaps up overseas Coutts units from Royal Bank of Scotland March 20, 2012 ROYAL Bank of Canada has agreed to buy some overseas divisions of the prestigious Coutts private banking business from Royal Bank of Scotland, giving RBC access to high net worth individuals in fast-growing emerging markets. Canada’s largest bank is buying Coutts’ Latin American, Caribbean and African private banking arms, which managed around £1.5bn of assets, [...]
Lift to BAE Systems from Lockheed rumour helps FTSE edge upwards November 27, 2012 BRITISH top shares rose yesterday, helped by a 2.5 per cent jump in British aerospace group BAE Systems after four traders cited market speculation of interest in the company from US firm Lockheed Martin. “Vague rumours that Lockheed is showing interest,” one trader wrote in an email. BAE shares closed at 319.70p. Banks also helped [...]