Sir David Walker to assist in RBS probe May 4, 2011 BRITAIN’S financial watchdog has called on Sir David Walker to intervene in a row between the regulator and the Royal Bank of Scotland (RBS) over the publication of the long-awaited report into the lender’s collapse. The City grandee, who led a government inquiry into bank pay in 2009, will help to steer the Financial Services [...]
BEST OF THE BROKERS May 8, 2011 BG GROUP Deutsche Bank rates the oil explorer a “buy” with a target price of £17.25. The broker expects BG’s first quarter results tomorrow to show a 14 per cent rise in operating profit as the uptick in commodities prices outweighs slightly lower production levels. Deutsche has raised its earnings per share forecasts based on [...]
BEST OF THE BROKERS May 8, 2011 BG GROUP Deutsche Bank rates the oil explorer a “buy” with a target price of £17.25. The broker expects BG’s first quarter results tomorrow to show a 14 per cent rise in operating profit as the uptick in commodities prices outweighs slightly lower production levels. Deutsche has raised its earnings per share forecasts based on [...]
Bank rate split remains at 6-3 May 18, 2011 The Bank of England was no closer to voting for a rise in interest rates in May and two of the policymakers backing a rise conceded the argument was still “finely balanced,” minutes showed. The Monetary Policy Council voted 6-3 against a rise for a fourth straight month, with Andrew Sentance, Martin Weale and Spencer [...]
Banks are on track to miss Merlin target May 16, 2011 THE TREASURY yesterday gave its support to the UK banks involved in the Merlin agreement, despite preliminary figures showing that the banks are on course to miss targets for lending to businesses. Figures collated for the Bank of England by accountants at PricewaterhouseCoopers suggest that since the Project Merlin deal was made between the government [...]
Banks are on track to miss Merlin target May 16, 2011 THE TREASURY yesterday gave its support to the UK banks involved in the Merlin agreement, despite preliminary figures showing that the banks are on course to miss targets for lending to businesses. Figures collated for the Bank of England by accountants at PricewaterhouseCoopers suggest that since the Project Merlin deal was made between the government [...]
Strong miners give FTSE a boost May 26, 2011 STRENGTH in heavyweight mining stocks helped Britain’s top share index edge higher yesterday, countering slippage by banks on Eurozone debt concerns. At the close, the FTSE 100 was up 10.9 points, or 0.2 per cent at 5,880.99, well below a morning spike above the psychologically important 5,900 level to 5,910.77. “The overall impression … is [...]
Banks and commodities fall as Greek debt crisis lingers June 20, 2011 BANKS and commodity stocksdragged Britain’s top index lower yesterday, as Greece’s lingering debt crisis looks likely to stall the FTSE’s progress near-term, analysts said. Investors reacted negatively after European finance ministers postponed a final decision on extending a further €12bn in emergency loans to Greece. The International Monetary Fund weighed in, saying it needed to [...]
Miners, banks lead broad-based FTSE rally May 27, 2011 Miners and banks have led a broad-based FTSE rally into the long holiday weekend. Leading the charge higher were heavyweight diversified miners, contributing 16 points to a one per cent higher FTSE 100 close, buoyed by rising commodity prices. The FTSE 350 Mining index ended up two per cent, boosted by gains in metals including [...]
RBS to revamp key unit April 19, 2011 ROYAL Bank of Scotland (RBS) is to revamp the management of its global banking & markets investment bank following deputy chief executive Marco Mazzucchelli’s decision to step down after a skiing accident. Mazzucchelli will remain with RBS but will spend more time on “client-facing” roles, according to a source. The reshuffle comes as a bumper [...]