Entrepreneur backs FSA report into failings at the Queen’s bank December 19, 2010 TYCOON Sir Keith Mills has welcomed the investigation of the Royal Bank of Scotland by the FSA, in the hope it sheds light into failings at the Queen’s bank Coutts. The millionaire is in the process of suing the bank, a division of RBS, after he was advised to invest £65m of his fortune in [...]
Hopes of revival for financial sector drives the FTSE higher February 16, 2011 BRITAIN’S leading share index rallied yesterday, powered by banks, on hopes for further upbeat earnings in the sector after Barclays and French peer Societe Generale set the standard. HSBC gained 2.8 per cent, Royal Bank of Scotland rose 4.3 per cent and Barclays, which reported results on Tuesday, was up 1.0 per cent. Societe Generale [...]
Hopes of revival for financial sector drives the FTSE higher February 16, 2011 BRITAIN’S leading share index rallied yesterday, powered by banks, on hopes for further upbeat earnings in the sector after Barclays and French peer Societe Generale set the standard. HSBC gained 2.8 per cent, Royal Bank of Scotland rose 4.3 per cent and Barclays, which reported results on Tuesday, was up 1.0 per cent. Societe Generale [...]
RBS transfers Chinese retail arm to Asian bank December 15, 2010 ROYAL Bank of Scotland (RBS) continued its divestment plan yesterday by winding down its retail and commercial operations in Chinese cities. RBS will tranfer its 25,000-strong customer base, business portfolios and employees in Shanghai, Beijing and Shenzhen, to Singapore-based bank DBS China. The agreement will take six months and involves no cash deal, transfer of [...]
JJB in £30m fundraising plan December 24, 2010 JJB has has announced plans to raise £31.5m from shareholders, after issuing a warning it could breach the terms of a banking agreement. The struggling sports retailer said it was raising funds from major shareholders including Crystal Amber and the Bill & Melinda Gates Foundation Trust. It added that its lender, Bank of Scotland, had [...]
Phone hacking scandal widens to other Murdoch papers July 11, 2011 Former prime minister Gordon Brown is the latest alleged victim of phone hacking by newspapers – but it is believed to be the Sunday Times that used his personal details in press reports. The allegations mark an explosive turning point in the phone hacking scandal that has to date focused solely on the paper’s stablemate [...]
Cairn Energy secures two rigs for its drilling campaign off Greenland coast January 4, 2011 OIL and gas firm Cairn Energy said it has secured two rigs for its controversial Greenland drilling campaign yesterday, boosting Arctic exploration hopes and sending its shares higher. Cairn is optimistic it will find substantial oil reserves in largely unexplored Greenland, saying it contracted the rigs to drill up to four wells in the Arctic [...]
Workspace plans cut-price rights issue July 7, 2011 BUSINESS landlord Workspace Group is to raise £63m in a deeply discounted rights issue, as part of plans to accelerate investment in its portfolio of buildings. The one-for-four rights issue is being made at a price of 23p per new ordinary share, representing a 21 per cent discount to the stock’s Wednesday night close. The [...]
Workspace plans cut-price rights issue July 7, 2011 BUSINESS landlord Workspace Group is to raise £63m in a deeply discounted rights issue, as part of plans to accelerate investment in its portfolio of buildings. The one-for-four rights issue is being made at a price of 23p per new ordinary share, representing a 21 per cent discount to the stock’s Wednesday night close. The [...]
European shares lifted on the back of miners and drug firms January 24, 2011 EUROPEAN shares edged up yesterday, as heavyweight miners rose on strong metals prices and defensive drugmakers and tobacco firms gained on concerns over the impact of rising inflation on growth prospects. Gains, however, were kept in check by falls on the German DAX index, as sentiment was hit by data showing a drop in German [...]