RBS merges Asia-Pacific teams July 14, 2009 Royal Bank of Scotland is to combine its Asia-Pacific investment banking teams ahead of a likely sale of its Asian operations to Australia’s ANZ, Standard Chartered or HSBC. The bank will merge its advisory, wholesale banking and risk management operations in a move it said would help it better serve clients in the region. The [...]
WHAT THE OTHER PAPERS SAY THIS MORNING September 23, 2009 FINANCIAL TIMES SIEMENS IN BRIBERY ULTIMATUMSiemens yesterday told several former executive board members, including former chief executives Heinrich von Pierer and Klaus Kleinfeld, to agree to pay damages relating to a multibillion euro bribery scandal. The firm, Europe’s largest engineering group, said seven former managers would face legal action if they failed to show willingness [...]
WHAT THE OTHER PAPERS SAY THIS MORNING September 23, 2009 FINANCIAL TIMES SIEMENS IN BRIBERY ULTIMATUMSiemens yesterday told several former executive board members, including former chief executives Heinrich von Pierer and Klaus Kleinfeld, to agree to pay damages relating to a multibillion euro bribery scandal. The firm, Europe’s largest engineering group, said seven former managers would face legal action if they failed to show willingness [...]
FTSE set to dip as banks hit spotlight August 2, 2009 MUCH of the rally of the past three weeks has been US earnings-led, but this week we’ll have the chance to see how a range of UK banks’ half-yearly numbers go down. The overall diagnosis is likely to be one of recoveries in profitability, with concerns mounting over soaring bad-loan losses. Two of the likely [...]
Thomson Reuters in talks with Breakingviews site July 14, 2009 THOMSON Reuters, the financial information service, is in takeover talks with Breakingviews.com, the financial analysis company. Breakingviews, which was founded by former Financial Times journalist Hugo Dixon nine years ago, has been expanding rapidly, investing heavily in New York and the far east. It is said to be profitable in Europe but loss-making outside Europe [...]
Record start at StanChart June 25, 2009 STANDARD Chartered has enjoyed record income and pre-tax operating profit so far this year, the bank said yesterday in a trading update, as it announced it had cut 2,500 jobs. The bank, which focuses on emerging markets, said income growth had been boosted by a strong performance in wholesale banking, although income in consumer banking [...]
TEENAGE SCRIBBLER OWES HIS DOG A BONE July 14, 2009 THIS is the face of the “teenage scribbler”, the 15-year old Morgan Stanley intern who set the world on fire, sort of anyway, earlier this week with his musings on media consumption among his peers. Young Matthew Robson must be wondering what has hit him since Morgan Stanley published the paper he wrote in the [...]
TEENAGE SCRIBBLER OWES HIS DOG A BONE July 14, 2009 THIS is the face of the “teenage scribbler”, the 15-year old Morgan Stanley intern who set the world on fire, sort of anyway, earlier this week with his musings on media consumption among his peers. Young Matthew Robson must be wondering what has hit him since Morgan Stanley published the paper he wrote in the [...]
BEST OF THE BROKERS June 23, 2009 AVIVACitigroup analysts said they no longer view Aviva as vulnerable from a capital perspective, after its hybrid debt issue and the disposal of Aviva Australia. Based on its standard return on embedded value approach, the broker upped its target price to 350p from 210p and raised its recommendation to “hold, high risk”. STANDARD CHARTEREDAhead of [...]
RBS Asia to be broken up before it can be sold off June 21, 2009 ROYAL Bank of Scotland’s planned sale of its Asian operations looks to be running into trouble, after regulatory hurdles made it likely that the bank will have to break up the unit into several pieces. HSBC, Standard Chartered and Australia & New Zealand Banking Group (ANZ) were all circling the businesses, but interest is thought [...]