Stocks held up by data from across the pond plus resilient corporates April 16, 2012 BRITAIN’S leading share index ended higher yesterday after positive US retail sales data and narrow gains for defensive shares more than offset another slide in banking shares on concerns about Spain. Pharmaceuticals and utilities – sectors that are less exposed to swings in the economic cycle – drove the index higher, with GlaxoSmithKline providing the [...]
The City’s high standing remains undiminished in spite of recent troubles November 4, 2012 WHEN I took over as lord mayor 361 days ago, I half-jokingly said that my background as an oarsman would help me steer a course through the choppy waters facing the City. As it happens, the past 12 months have proved a real test of City fortitude. The financial services industry has had to navigate [...]
…As firm gets up to £65m in fresh funding April 4, 2012 STRUGGLING sports retailer JJB last night revealed it had secured up to £65m worth of fresh investment as it battles to safeguard its future. The company, which saw its share price almost double earlier this week when it confirmed talks with a strategic partner, said that US sports chain Dicks would be investing £20m in [...]
RBS investors set to sue bank over crisis March 12, 2012 A GROUP representing investors in Royal Bank of Scotland plans legal action to recover at least £2.4bn lost when they bought shares in the bank shortly before it fell victim to the financial crisis. Mike Neill, who is coordinating the legal action on behalf of the RBoS Shareholders Action Group, said yesterday the claim was [...]
PAINTING A PICTURE OF RBS PAST AND PRESENT March 26, 2012 Auctioneers at Bonhams, the fine art house, are hoping that all the (mainly bad) news about the Royal Bank of Scotland and the debate about Scottish independence may have a beneficial impact on the demand for a portrait being sold next month in the firm’s Edinburgh office. Bonhams is auctioning a portrait of Archibald Campbell, [...]
PAINTING A PICTURE OF RBS PAST AND PRESENT March 26, 2012 Auctioneers at Bonhams, the fine art house, are hoping that all the (mainly bad) news about the Royal Bank of Scotland and the debate about Scottish independence may have a beneficial impact on the demand for a portrait being sold next month in the firm’s Edinburgh office. Bonhams is auctioning a portrait of Archibald Campbell, [...]
Vince Cable accuses government of ‘lacking vision’ March 6, 2012 Vince Cable has accused the government of lacking “a compelling vision of where the country is heading beyond sorting out the fiscal mess”. The business secretary also called for Royal Bank of Scotland to be split up, saying: “My suggestion is that we recognise that RBS will not return to the market in its current [...]
WHO’S SWITCHING JOBS May 1, 2012 Providence Resources The Aim-quoted oil gas and exploration company has appointed Simon Brett as chief financial officer with immediate effect. He has previously held senior finance positions with Damovo Ireland and Coca Cola Bottlers Ireland, and worked at Johnson Wax, Sega Europe and US Can Corporation. New World Oil and Gas The oil and gas [...]
Direct Line Group set to name Biggs as chairman March 20, 2012 ROYAL Bank of Scotland (RBS) has offered the role of chairman at Direct Line Group, its insurance unit, to Mike Biggs, a former finance director at Aviva. It is understood that Biggs has not yet formally accepted the job but he will be tempted by the chance to lead a firm that is set to [...]
Coutts fined over client cash checks March 26, 2012 COUTTS has been fined £8.75m for “significant, widespread and unacceptable” failings in its money laundering controls, its second regulatory penalty in four months. The private bank, which is owned by Royal Bank of Scotland, was found to have made inadequate checks on clients who are considered “politically exposed persons” – people whose prominent position in [...]