RBS warns of new Eurozone recession September 23, 2011 Royal Bank of Scotland economists have forecast the Eurozone will slip back into recession. They said in a note they expect a contraction of 0.2 per cent in the final quarter of 2011, doubling to 0.4 per cent in the first quarter of 2012. Fears of a Greek default are a factor in the gloomy [...]
RBS warns of new Eurozone recession September 23, 2011 Royal Bank of Scotland economists have forecast the Eurozone will slip back into recession. They said in a note they expect a contraction of 0.2 per cent in the final quarter of 2011, doubling to 0.4 per cent in the first quarter of 2012. Fears of a Greek default are a factor in the gloomy [...]
FSA checks up on RBS’s bad property book October 6, 2011 THE City watchdog is examining Royal Bank of Scotland’s portfolio of troubled commercial property loans, as the Eurozone debt crisis causes fresh volatility in property prices, industry sources said yesterday. The Financial Services Authority wrote to Derek Sach, head of RBS’s Global Restructuring Group, last week after sending its officers to quiz staff and monitor [...]
FSA checks up on RBS’s bad property book October 6, 2011 THE City watchdog is examining Royal Bank of Scotland’s portfolio of troubled commercial property loans, as the Eurozone debt crisis causes fresh volatility in property prices, industry sources said yesterday. The Financial Services Authority wrote to Derek Sach, head of RBS’s Global Restructuring Group, last week after sending its officers to quiz staff and monitor [...]
Global stocks fall on Greece October 3, 2011 SHARES in US and European banks were pummelled yesterday after Greece’s admission that it may miss deficit targets set out under its bailout plan increased fears of another global recession. The STOXX Europe 600 Banking Index fell 2.8 per cent, with French banks BNP Paribas and Société Générale among the worst hit. FTSEurofirst 300 index [...]
FTSE slumps to seven-week low on further euro unease November 22, 2011 BRITAIN’S top shares index hit a seven-week closing low yesterday, led lower by energy stocks on worries slower US growth would crimp demand for crude while Commerzbank’s funding concerns hit Royal Bank of Scotland and Lloyds Banking Group. The US economy grew more slowly than previously expected in the third quarter, and the news hurt [...]
FTSE slumps to seven-week low on further euro unease November 22, 2011 BRITAIN’S top shares index hit a seven-week closing low yesterday, led lower by energy stocks on worries slower US growth would crimp demand for crude while Commerzbank’s funding concerns hit Royal Bank of Scotland and Lloyds Banking Group. The US economy grew more slowly than previously expected in the third quarter, and the news hurt [...]
WHAT THE OTHER PAPERS SAY THIS MORNING December 13, 2011 FINANCIAL TIMES PEPSICO SIGNALS RENEWED FOCUS ON CORE INDULGENT BRANDS PepsiCo, the US drinks and snacks company, has signalled that it will renew its focus on its core “indulgent” brands. The move marks a shift in strategy after mounting criticism from investors that it had invested too much in less profitable health products. SIX FORMER [...]
Europe to hit bans with tougher capital tests October 11, 2011 Europe’s banks will have to achieve a significantly stronger capital position under a quick-fire regulatory health check and may need to raise some €100bn (£87bn), banking and regulatory sources said. The European Banking Authority (EBA) wants banks to hold a minimum core Tier One ratio of seven per cent under a recession scenario, and those [...]
City of London calls in lawyers over St Paul’s campers as disruptions enter second week October 23, 2011 THE City of London has vowed to get tough with protesters camping outside St Paul’s as the Occupy LSX movement enters its second week. A crunch meeting today will see the City of London Corporation meet with representatives of the cathedral and lawyers to discuss how to close down the makeshift commune. A spokesman for [...]