RBS to quit its 199 Bishopsgate office by end of the year October 10, 2010 ROYAL Bank of Scotland will vacate its Bishopsgate office, while a second lease on its Regent’s House building hangs in the balance. The bank is scaling back its property portfolio as it prepares to shed thousands of jobs. It is understood RBS will leave 199 Bishopsgate before the end of the year. It will keep [...]
Senior bankers work together in talks with government over bank bonuses October 10, 2010 SENIOR bankers have been lobbying the government and regulators not to disadvantage the UK on the international stage over the issue of bank bonuses. The group led by Barclays chairman Marcus Agius, Sir Philip Hammond, chairman of Royal Bank of Scotland (RBS) and Barclay’s outgoing chief executive, John Varley, are believed to be lobbying global [...]
WHAT THE OTHER PAPERS SAY THIS MORNING December 5, 2010 FINANCIAL TIMES IRISH BANKS FACE LOANS SELL OFF Ireland will have to accelerate the shrinking of its troubled banks’ balance sheets in return for gaining continued access to emergency European funding. According to people briefed on the details of Ireland’s €85bn (£72bn) bail-out by the European Union and the International Monetary Fund, the banks will [...]
WHAT THE OTHER PAPERS SAY THIS MORNING December 7, 2010 FINANCIAL TIMES FSA CHIEF WARNS ON BANK RULES Ensuring that the heads of failed banks face punishment would likely require a set of rules that held them to higher standards than other company directors, the head of the City watchdog has warned. Lord Turner, chairman of the Financial Services Authority, makes this argument while defending [...]
WHAT THE OTHER PAPERS SAY THIS MORNING December 12, 2010 FINANCIAL TIMES CREDIT SUISSE TO ISSUE COCOS EARLY Credit Suisse’s chief executive said he hoped to begin issuing billions of dollars in contingent-capital bonds in the next year to help shore up the bank’s financial strength well ahead of new Swiss regulations. Brady Dougan also defended Credit Suisse’s decision to award one-off payments to about [...]
WHAT THE OTHER PAPERS SAY THIS MORNING December 12, 2010 FINANCIAL TIMES CREDIT SUISSE TO ISSUE COCOS EARLY Credit Suisse’s chief executive said he hoped to begin issuing billions of dollars in contingent-capital bonds in the next year to help shore up the bank’s financial strength well ahead of new Swiss regulations. Brady Dougan also defended Credit Suisse’s decision to award one-off payments to about [...]
ANALYST VIEWS: SHOULD PREMIER INVESTORS BE CELEBRATING October 4, 2010 MARTIN DEBOO | INVESTEC With the valuation at rock bottom, the share price is on a hair-trigger. We think today’s bounce is directionally appropriate – the disposal of Quorn on decent terms would be a good deal for shareholders. GRAHAM JONES | PANMURE GORDON The rise in share price shows that any deleveraging is good [...]
FTSE hits a three-week low as fears of debt contagion in Eurozone take hold November 22, 2010 BBRITAIN’S top share index closed lower yesterday, hurt by banks and commodity stocks as initial upbeat sentiment over Ireland’s bailout subsided, giving way to fears over potential problems in other Eurozone countries. The FTSE 100 closed down 52 points, or 0.9 per cent, at 5,680.83, its lowest since October 29, retreating from 5,783.14 earlier in [...]
CITY MOVES | WHO’S SWITCHING JOBS October 20, 2010 RBC Capital Markets The investment bank, part of the Royal Bank of Canada group, has hired Jonathan Guy and Tim Huff as directors in its equity research team, with a focus on mining. Huff, pictured, joins RBC with over 17 years of experience, most recently gained at the Royal Bank of Scotland. Prior to that, [...]
Bids for the Priory disappoint September 21, 2010 Royal Bank of Scotland has received bids for the Priory Group of less than the £1bn asking price. The bank had hoped to attract private equity buyers for the owner of the Priory clinics, but the first round of bidding last week has fallen short. Bain Capital, Blackstone, Cinven and Advent are among the first-round [...]