Broker battle looms as RBS axes Hoare Govett May 27, 2012 HOARE Govett, the historic City broker recently offloaded by Royal Bank of Scotland, is on the verge of losing its mandate with the taxpayer-backed lender. RBS has begun the process of replacing the broker, which it sold for just £1 in February, as chief executive Stephen Hester shrinks its sprawling balance sheet in order to [...]
WHAT THE OTHER PAPERS SAY THIS MORNING June 19, 2012 FINANCIAL TIMES Hedge funds bet on Bunds sell-off as Eurozone woes weigh on Berlin Leading hedge fund managers are betting on a significant sell-off in German government bonds in the coming months after a sharp fall in yields on the debt paper driven by a flight to safety in the Eurozone. One small step for [...]
ANALYSIS l Royal Bank of Scotland Group PLC September 12, 2011 RBS is despondent about the Vickers proposals, which it views as creating an impenetrable barrier between two interlinked parts of its business. It could suffer the most severe impact to its bottom line from the report. The bank is also worried that the policy will give its non-universal banking rivals an unfair advantage because they will [...]
What the other papers say this morning November 28, 2012 FINANCIAL TIMES Sabic in talks to invest in US shale gas Saudi Basic Industries, the world’s largest petrochemical maker by market capitalisation, is in talks over a possible investment in the US to take advantage of cheap shale gas, said Mohamed al-Mady, its chief executive. Oakland plans Goldman boycott The city of Oakland plans to [...]
WHAT THE OTHER PAPERS SAY THIS MORNING June 21, 2012 FINANCIAL TIMES RBS suffers blow over branches deal Royal Bank of Scotland is set to receive up to £300m less than it expected for a package of branches it is selling to Santander UK because the business has failed to hit a number of targets outlined in the deal. A sharp deterioration in the economy [...]
Ex-HBOS boss in battle with FSA over fine April 22, 2012 PETER Cummings, the man behind some of the most high profile loans made by Halifax Bank of Scotland (HBOS), has been handed a seven-figure fine by the City regulator. The former corporate boss is believed to have been handed a “warning notice” by the Financial Services Authority, which has been investigating the bank’s buying spree [...]
ADVISERS GLEACHER SHACKLOCK April 10, 2012 Timothy Shacklock is leading the team at Gleacher Shacklock which is advising Cobham. The company specialises in corporate mergers, acquisitions and strategy. Shacklock, the former deputy chairman of Dresdner Kleinwort Wasserstein, founded Gleacher Shacklock in 2003. He has advised on a number of Europe’s most prominent corporate finance transactions, including the reorganisation of British Aerospace [...]
ADVISERS GLEACHER SHACKLOCK April 10, 2012 Timothy Shacklock is leading the team at Gleacher Shacklock which is advising Cobham. The company specialises in corporate mergers, acquisitions and strategy. Shacklock, the former deputy chairman of Dresdner Kleinwort Wasserstein, founded Gleacher Shacklock in 2003. He has advised on a number of Europe’s most prominent corporate finance transactions, including the reorganisation of British Aerospace [...]
Libor: the vital number for every banker June 27, 2012 Q What is Libor? A The London interbank offered rate (Libor) is set daily for 10 major currencies and for 15 borrowing periods, ranging from overnight loans to 12 months. It is set by the British Bankers’ Association, after speaking to 16 banks and studying their data on the cost and price of lending to [...]
Thomas Cook investors back crucial sell-off May 29, 2012 THOMAS COOK won a major breakthrough in its turnaround plans yesterday after shareholders almost unanimously backed two key disposals, without which the holiday giant had warned it could collapse. The 171 year-old tour operator said 99.99 per cent of proxy votes supported the planned sale and leaseback of part of its aircraft fleet and the [...]