Battle for RBS branches heats up May 16, 2010 Santander, the frontrunner to buy £1.5bn of bank branches put up for sale by Royal Bank of Scotland, faces increased competition. National Australia Bank and BBVA, who are also in the running for the assets, are understood to have held talks about teaming up for a bid through a joint venture. Santander sees the RBS [...]
ANZ on hiring drive in Asia May 17, 2010 Australia and New Zealand Banking Group (ANZ) will boost its Singapore headcount by 25 per cent this year after completing the acquisition of the retail banking operations of Royal Bank of Scotland in the region yesterday. Bill Foo, chief executive of ANZ Singapore, said the bank will hire 500 or more new staffers. The move [...]
Lloyds gives Crystal Palace crucial lifeline June 1, 2010 THE survival of championship football club Crystal Palace appeared more likely yesterday after a last- minute deal saved it from the threat of liquidation. A life-saving agreement to sell the club’s stadium to a consortium bidding to own both that and the club itself was clinched mid-afternoon. The deal, which seemed like it might be [...]
Funds to be hit by bonus rules June 30, 2010 Cash bonuses to be capped at 30 per cent Hedgies and investment firms fall into EU’s net Politicians say clamp down will end risk-taking HEDGE funds and asset managers will be caught in the tough crackdown on bankers’ bonuses put forward by European Union politicians and member states last night. In the harshest measures yet [...]
FTSE 100 hits a one-month high boosted by strong performance of energy shares June 16, 2010 BRITAIN’S top shares extended their winning streak to a sixth straight day yesterday to a one-month closing high, driven higher by energy stocks. The FTSE 100 ended the day up 20.10 points, or 0.4 per cent, at 5,237.92, its highest closing level since May 18, notching up its longest winning run since September, having risen [...]
Pressure back on Pru as AIA gets new boss July 19, 2010 AMERICAN International Group (AIG)’s hiring of Mark Tucker to run its Asian arm piles pressure on Prudential to realise value from its Far Eastern operation, analysts argue. Mark Tucker, a former chief executive of Prudential, will take over from Mark Wilson at the head of American International Assurance (AIA) before its Hong Kong flotation in [...]
WHAT THE OTHER PAPERS SAY THIS MORNING August 3, 2010 FINANCIAL TIMES BARCLAYS OFFLOADS LOANS IN STRUGGLING CONNAUGHT Lenders to Connaught have started selling their loans to the company, in a sign of their concern about the state of the embattled social housing maintenance group. Barclays, one of Connaught’s syndicate of banks, which is led by Royal Bank of Scotland, on Monday night sold its [...]
FTSE knocked for fifth day as US results hit confidence July 20, 2010 BRITAIN’S top share index ended lower yesterday for a fifth straight session as generally disappointing US results hurt investor sentiment, offsetting strong gains from mining stocks buoyed by firmer metals prices. The FTSE 100 closed down 8.82 points, or 0.2 per cent, at 5,139.46, having fallen 0.2 per cent on Monday. TELECOMS HIT BY BUDGET [...]
FTSE knocked for fifth day as US results hit confidence July 20, 2010 BRITAIN’S top share index ended lower yesterday for a fifth straight session as generally disappointing US results hurt investor sentiment, offsetting strong gains from mining stocks buoyed by firmer metals prices. The FTSE 100 closed down 8.82 points, or 0.2 per cent, at 5,139.46, having fallen 0.2 per cent on Monday. TELECOMS HIT BY BUDGET [...]
Nomura hires RBS strategist June 9, 2010 NOMURA, Japan’s largest brokerage, has made its latest high-profile hire by poaching Benito Berber from state-owned Royal Bank of Scotland as an emerging markets forex strategist. Berber is on gardening leave and will start in the coming months, it is understood. He follows in the footsteps of ex-RBS colleagues Steve Ashley and Chris Fleming, who [...]