RBS hit with £2.8m FSA fine over complaints January 11, 2011 The Royal Bank of Scotland (RBS) and its NatWest subsidiary have been fined £2.8m for poor handling of customer complaints. The Financial Services Authority (FSA) imposed the fine, finding there was an “unacceptably high risk” that the customers had been treated unfairly. Failings identified included poor and slow dealing with complaints. RBS accepted its performance [...]
RBS hit with £2.8m FSA fine over complaints January 11, 2011 The Royal Bank of Scotland (RBS) and its NatWest subsidiary have been fined £2.8m for poor handling of customer complaints. The Financial Services Authority (FSA) imposed the fine, finding there was an “unacceptably high risk” that the customers had been treated unfairly. Failings identified included poor and slow dealing with complaints. RBS accepted its performance [...]
Hochtief seeking IPO or sale of unit February 6, 2011 GERMAN construction group Hochtief is seeking an initial public offering (IPO) or a trade sale of its Concessions unit in 2011, said chief executive Herbert Luetkestratkoetter. “Unlike in 2009 (when an IPO plan failed) we are also evaluating a sale to investors,” Luetkestratkoetter told German newspaper Frankfurter Allgemeine Sonntagszeitung. “Now markets have rebounded and we [...]
Banks hit out at calls for breakup January 26, 2011 BRITAIN’S biggest banks warned against any radical change to their structure yesterday, after the Independent Commission on Banking (ICB) published responses to its research on how best to boost competition in the banking sector. Several City stalwarts including Barclays and the Royal Bank of Scotland (RBS) claimed that banking would not be made safer by [...]
Oil costs drag the FTSE down with miners and banks sinking March 7, 2011 MINERS dragged Britain’s top share index lower yesterday, as escalating violence in the Middle East and surging oil prices crimped investor appetite for risk. The FTSE 100 index closed down 16.61 points, or 0.3 per cent, at 5,973.78, nearly 70 points below the session high as the index traded at 80 per cent of its [...]
Miliband blasts Hester’s payout as opposition calls for bonus tax January 10, 2011 LABOUR leader Ed Miliband said yesterday that Stephen Hester “shouldn’t get the scale of bonus that is being talked about”, following reports that the Royal Bank of Scotland chief executive is in line for a £2.5m bonus, despite the bank being majority-owned by the government. Miliband’s comments came as the opposition party called on the [...]
Miliband blasts Hester’s payout as opposition calls for bonus tax January 10, 2011 LABOUR leader Ed Miliband said yesterday that Stephen Hester “shouldn’t get the scale of bonus that is being talked about”, following reports that the Royal Bank of Scotland chief executive is in line for a £2.5m bonus, despite the bank being majority-owned by the government. Miliband’s comments came as the opposition party called on the [...]
Weak demand for commodity and bank shares drag on FTSE March 9, 2011 WEAK commodity and bank stocks dragged Britain’s leading shares index lower yesterday as oil prices climbed after intensified fighting in Libya. At the close, the FTSE 100 was down 37.46 points, or 0.6 per cent, at 5,937.30, having hit a low for the week at 5,922.66 in the afternoon before recovering. “Only a dyed-in-the-wool optimist [...]
JJB Sports to fight for new rent proposal February 13, 2011 JJB SPORTS was heading for a battle with its landlords and other retailers after confirming its company voluntary agreement (CVA) is to include the renegotiation of two-fifths of its rent payments. The company has warned its biggest landlords, including British Land, Henderson and Prudential, that if its terms for discount rent and tenancy breaks for [...]
THE WEEK AHEAD in association with GFT August 7, 2011 COMPANY NEWS ● Telecity announces today. It specialises in the design, build and management of highly connected, resilient and secure environments. Also announcing today is Vedanta, the FTSE 100 metals and mining company, whose business is principally located in India. ● Tomorrow, Intercontinental Hotels announces. Investors hope the results don’t cause sleepless nights. ● International [...]