MPs pledge to get tough on HBOS review September 13, 2012 THE NEW review into the failure of Halifax Bank of Scotland (HBOS) will face an additional hurdle in the form of an independent adviser appointed by a committee of MPs, it was announced yesterday. The Financial Services Authority fined former HBOS executive Peter Cummings £500,000 on Wednesday, banning him for life from working in the [...]
RBS retail head eyes £3m stock August 30, 2012 ROYAL Bank of Scotland last night announced it would award its incoming UK retail banking boss Ross McEwan shares worth £3.2m under its long term incentive plan. In a statement to the stock exchange last night, the bank said that McEwan, who takes over the reins of its retail banking operations on Monday, would get [...]
Bailout chief Kingman returns to Whitehall with Treasury job September 11, 2012 JOHN Kingman, who oversaw Britain’s bailout of its banks in the financial crisis and then led the body responsible for the shareholdings, is to return to the Treasury after two years as a senior banker at Rothschild. Kingman will next month return to the Treasury as a second permanent secretary, responsible for its economics function, [...]
Yellow Pages owner Hibu set for more crunch ownership talks September 2, 2012 DEBT-laden Yellow Pages publisher Hibu is set to step up ownership talks with a six-strong consortium of creditors after winning a reprieve on its loan conditions. Hibu, which has £2.2bn of debts, won a reprieve from its lenders on Friday to waive some debt conditions – helping smooth plans put forward in July for a [...]
Troubled Britain should not mock the Eurozone’s nightmare September 26, 2012 EUROPEAN markets follow a well-trodden path. A bailout plan is announced, sending investors into a frenzy of happiness; nothing much happens; data is published showing one or more countries in even greater crisis than before; everybody panics; equity markets plunge and bond yields jump; another bailout pledge is made. And so on. We are now [...]
Troubled Britain should not mock the Eurozone’s nightmare September 26, 2012 EUROPEAN markets follow a well-trodden path. A bailout plan is announced, sending investors into a frenzy of happiness; nothing much happens; data is published showing one or more countries in even greater crisis than before; everybody panics; equity markets plunge and bond yields jump; another bailout pledge is made. And so on. We are now [...]
City Moves | Who’s switching jobs October 9, 2012 NGBI Private Equity David Turner has joined NGBI’s UK team as an investment manager. He qualified as an accountant with Grant Thornton before transferring into its corporate finance team, and was most recently a member of Experian’s corporate development office. Chadbourne and Park The law firm has announced that Silvia Fazio has joined the firm as an [...]
What the other papers say this Morning October 15, 2012 FINANCIAL TIMES Morgan Stanley sued over bias Morgan Stanley has been sued by the American Civil Liberties Union for allegedly discriminating against black homeowners through its bundling of subprime mortgage loans. RBS to exit Asset Protection Scheme Royal Bank of Scotland will this week get the go-ahead from government and regulators to exit the state-backed [...]
What the other papers say this Morning October 15, 2012 FINANCIAL TIMES Morgan Stanley sued over bias Morgan Stanley has been sued by the American Civil Liberties Union for allegedly discriminating against black homeowners through its bundling of subprime mortgage loans. RBS to exit Asset Protection Scheme Royal Bank of Scotland will this week get the go-ahead from government and regulators to exit the state-backed [...]
RBS cuts precious metal trading arm and commodities research September 6, 2012 ROYAL Bank of Scotland plans to close down its precious metals trading operation, an industry source said, and the bank confirmed it was halting commodities research due to an internal review. “We are conducting a review of our client offering with respect to commodities research, and as a result we will not be producing anything [...]