FEES ROW HOLDS UP LLOYDS MOVE October 13, 2009 LLOYDS Banking Group’s chief executive Eric Daniels and the Treasury were last night embroiled in an increasingly bitter dispute over the bank’s bid to escape participation in chancellor Alistair Darling’s Asset Protection Scheme (APS). The government wants Lloyds to pay a break fee of £2bn to extricate itself, which the bank thinks is far too [...]
Tullow hits oil at Sierra Leone well September 16, 2009 A CONSORTIUM of oil companies including UK-listed Tullow Oil said yesterday they discovered a deepwater oil well off the coast of Sierra Leone. Houston-based Anadarko Petroleum, which leads the group, said its Venus B well has an “active petroleum system”, and said the find raised hopes for more than 30 other prospects the companies have [...]
RBS closes the door on new credit cards October 5, 2009 ROYAL Bank of Scotland (RBS) has closed its credit card business to new customers in a bid to prevent a rise in bad debts. The lender, which is 70 per cent owned by the taxpayer, will limit new credit cards to existing banking customers, meaning that anyone who wants an RBS or NatWest credit card [...]
RBS closes the door on new credit cards October 5, 2009 ROYAL Bank of Scotland (RBS) has closed its credit card business to new customers in a bid to prevent a rise in bad debts. The lender, which is 70 per cent owned by the taxpayer, will limit new credit cards to existing banking customers, meaning that anyone who wants an RBS or NatWest credit card [...]
RBS IN SHARE ISSUE PLAN TO RAISE 4BN September 20, 2009 ROYAL Bank of Scotland is considering a share issue of £3bn-£4bn to reduce the government’s stake in the bank. The move would be a last-ditch bid to avoid seeing the government’s stake rise above 70 per cent following participation in the Asset Protection Scheme (APS). It would also see RBS joining Lloyds in the scramble [...]
RBS IN SHARE ISSUE PLAN TO RAISE 4BN September 20, 2009 ROYAL Bank of Scotland is considering a share issue of £3bn-£4bn to reduce the government’s stake in the bank. The move would be a last-ditch bid to avoid seeing the government’s stake rise above 70 per cent following participation in the Asset Protection Scheme (APS). It would also see RBS joining Lloyds in the scramble [...]
WHAT THE OTHER PAPERS SAY THIS MORNING November 16, 2009 FINANCIAL TIMES MOBILE MAKERS ACT TO CURB FAKE PHONESThe global mobile phone industry is trying to rein in the rapid worldwide spread of illegitimate handsets by introducing a stricter regime for the allocation of handset identification numbers. The move comes as unlicensed Chinese handset manufacturers have started flooding the world market with exports in a [...]
Maybe ITV would do better without a chief exec October 14, 2009 CRISIS? What crisis? That was the line that Michael Grade, the outgoing executive chairman of ITV, took when being questioned by a House of Lords committee yesterday. Hitting out at media coverage of the broadcaster’s bungled attempts to find a replacement chairman and chief executive, he said ITVwas a business in fine fettle. In a [...]
Maybe ITV would do better without a chief exec October 14, 2009 CRISIS? What crisis? That was the line that Michael Grade, the outgoing executive chairman of ITV, took when being questioned by a House of Lords committee yesterday. Hitting out at media coverage of the broadcaster’s bungled attempts to find a replacement chairman and chief executive, he said ITVwas a business in fine fettle. In a [...]
ITVboard is split over Ball pay demands September 17, 2009 TONY Ball is said to be seeking a package worth up to £20m as chief executive of ITV, should he manage to bring the company’s share price back to health. But the boardroom is understood to be split over the terms of the deal, which is expected to include the ex-BSkyB boss putting some of [...]