Stocks and Finance

Royal Bank of Scotland

Royal Bank of Scotland 18/01/2012

14:16 : RBS Insurance firms fined for tampering with files - Insurance firms Direct Line and Churchill have been fined for making alterations to files before submitting them to the Financial Services Authority (FSA). In 2010 the regulator asked for 50 files to be submitted so that it could assess how the firms ...

Source : financemarkets-co-uk

12:48 : FSA deals blow to RBS with £2.2m fine for Direct Line and Churchill - RBS-owned Direct Line and Churchill insurance have been fined £2.2 million by the Financial Services Authority (FSA) for failure to conduct business with due skill, care and diligence.

Source : citywire-co-uk

11:45 : FSA fines RBS insurance units for files breach - LONDON (Reuters) - The Financial Services Authority has fined Royal Bank of Scotland's Direct Line and Churchill insurance subsidiaries 2.17 million pounds for altering files it had asked to inspect.

Source : reuters-com

10:34 : Royal Bank of Scotland Cuts 272 Jobs at U.K. Corporate Bank - Royal Bank of Scotland Group Plc, Britain's biggest government-owned lender, will cut 272 jobs from its U.K. corporate banking unit as slowing growth and rising volatility force Chief Executive Officer Stephen Hester to shrink ...

Source : businessweek-com

05:17 : Sumitomo Mitsui Follows RBS Aviation Deal With Moelis Investment - Sumitomo Mitsui Financial Group Inc. said it will invest in U.S. investment bank Moelis & Co. a day after the Japanese lender disclosed its $7.3 billion purchase of Royal Bank of Scotland Group Plc's aviation division.

Source : businessweek-com

Royal Bank of Scotland 17/01/2012

22:16 : RBS Sells Aviation Business to Sumitomo Mitsui for $7.3 Billion - Royal Bank of Scotland Group Plc is selling its aviation leasing unit to Sumitomo Mitsui Financial Group Inc. for about $7.3 billion, the biggest disposal by the state-owned lender since its U.K.-government bailout in 2008.

Source : businessweek-com

16:16 : RBS shares jump after sale of its aircraft leasing business - Dublin-based RBS Aviation Capital went to Japanese bank Sumitomo Mitsui for 7.3billion U.S. dollars (£4.7billion) in what is RBS's biggest disposal ever.

Source : thisismoney-co-uk

01:40 : SMFG, Sumitomo to buy RBS aircraft arm - TOKYO (Reuters) - Japan's Sumitomo Mitsui Financial Group (SMFG) and Sumitomo Corp on Tuesday said they would buy Royal Bank of Scotland's aircraft-leasing business, whose assets are valued at $7.2 billion (4.6 billion pounds).

Source : reuters-com

Royal Bank of Scotland 16/01/2012

23:20 : SMFG to buy RBS aircraft arm for $7.3 billion - source - (Reuters) - Japanese bank Sumitomo Mitsui Financial Group (SMFG) is set to buy the aircraft-leasing business of Royal Bank of Scotland in a $7.3 billion (4.7 billion pounds) deal, the bank confirmed on Monday.

Source : reuters-com

23:08 : CITY FOCUS: Royal Bank of Scotland can switch off firms' life support - The downfall of the Peacocks fashion chain has turned a spotlight on the fact that taxpayer-owned Royal Bank of Scotland is wielding the power of life and death over hundreds of financially stretched companies.

Source : thisismoney-co-uk

21:17 : RBS sells aviation business to Japanese bank Sumitomo - Royal Bank of Scotland has sold its aviation leasing arm for more than $7bn (£4.6bn) after Japanese bank Sumitomo Financial Group (SMFG) won the auction to buy the business.

Source : telegraph-co-uk

21:17 : RBS Said to Be Near Sale of Aviation Unit to Sumitomo Mitsui - Royal Bank of Scotland Group Plc is close to agreeing to sell its aircraft-leasing unit to Sumitomo Mitsui Financial Group Inc., Japan's second-biggest bank by market value, for about $7.3 billion, said a person with knowledge ...

Source : businessweek-com

20:41 : RBS to sell aircraft leasing business - Ireland-based RBS Aviation Capital to net over £4bn for bankThe Royal Bank of Scotland is on Tuesday expected to announce the £4.7bn ($7.3bn) sale of its aircraft leasing business, the biggest ...

Source : guardian-co-uk

19:58 : RBS Said to Be Close to Sale of Aviation Unit to Sumitomo Mitsui - Royal Bank of Scotland Group Plc is close to agreeing a sale of its aircraft leasing business to Japan's Sumitomo Mitsui Financial Group Inc. for about $7.2 billion, said a person with knowledge of the talks.

Source : businessweek-com

18:59 : RBS attracts bidders for investment bank, raising hopes for jobs - EXCLUSIVE: Royal Bank of Scotland has received initial offers for all the investment banking businesses it is attempting to sell, raising hopes that many of the staff facing redundancy may be taken on by the buyers.

Source : telegraph-co-uk

18:42 : UPDATE 1-SMFG to buy RBS aircraft-leasing unit for $7 bln-Nikkei - Jan 17 (Reuters) - Sumitomo Mitsui Financial Group Inc (SMFG) said on Monday it had reached a basic agreement with Royal Bank of Scotland to buy its commercial-jet-leasing business, the Nikkei business daily reported.

Source : reuters-com

14:54 : Peacocks' survival hopes fade after RBS cuts lifeline - Hopes that heavily indebted clothing retailer Peacocks can avoid collapsing into administration faded today after major lender Royal Bank of Scotland withdrew from talks about a proposed debt-for-equity swap.

Source : independent-co-uk

14:54 : Peacocks survival hopes fade after RBS cuts lifeline - Hopes that heavily indebted clothing retailer Peacocks can avoid collapsing into administration faded today after major lender Royal Bank of Scotland withdrew from talks about a proposed debt-for-equity swap.

Source : independent-co-uk

13:22 : Costa Concordia: a floating RBS with a sudden liquidity problem | Michael ... - The comparisons between failed banks and sinking boats are strikingDo you know what the overnight graphics and pictures of the Costa Concordia's top-heavy hull reminded me of? One of those fancy credit default swaps that helped to wreck much of the western ...

Source : guardian-co-uk

09:40 : Lazard Gets Five Weeks to Find RBS Buyers Before Bankers Depart - Lazard Ltd., the largest non-bank merger adviser, has been given five weeks to find a buyer for all or parts of Royal Bank of Scotland Group Plc's equities and advisory operations before managers start firing employees, according ...

Source : businessweek-com

06:56 : RBS to sell Mideast M&A ops - regional head - DUBAI, Jan 16 (Reuters) - Royal Bank of Scotland plans to sell its mergers and acquisitions business in the Middle East and cut several jobs as part of a global restructuring at the U.K. lender, its regional head ...

Source : reuters-com

06:23 : RBS eyes sale of MidEast cash equities, M&A business - sources - DUBAI (Reuters) - Royal Bank of Scotland is in talks to sell its cash equity and mergers and acquisitions business in the Middle East as part of a global restructuring at the U.K. lender, two sources familiar ...

Source : reuters-com

01:26 : RBS staff consider advisory arm buyout - report - LONDON (Reuters) - A group of dealmakers at Royal Bank of Scotland is considering a management buyout as the state-controlled bank looks to sell or shut down its advisory business, the Financial Times reported on Monday.

Source : reuters-com

00:12 : RBS's 'outrageous' pull-out from Peacocks talks puts rescue at risk - Taxpayer-owned Royal Bank of Scotland stands accused of a decision to scale back its lending exposure to troubled high street operators, potentially killing retailers and risking major job losses.

Source : independent-co-uk

Royal Bank of Scotland 15/01/2012

20:47 : Royal Bank of Scotland pulls out of deal to rescue Peacocks - Royal Bank of Scotland's move puts 13,000 jobs in peril at Peacocks after the bank walked away from refinancing talks More than 13,000 retail jobs are on the line at value fashion group Peacocks after Royal Bank of Scotland ...

Source : guardian-co-uk

Royal Bank of Scotland 13/01/2012

13:02 : Royal Bank of Scotland leads FTSE rises after restructuring, as bear turns - Seymour Pierce moves from sell to buy after two years, following RBS cutting its investment banking businessRoyal Bank of Scotland is leading the FTSE 100 risers as a leading bear on the bank turned ...

Source : guardian-co-uk

12:41 : RBS Securities Capitulation a Blueprint for Banks in Europe - Royal Bank of Scotland Group Plc's decision to cut its European investment bank by more than a quarter may kick-start a wider shake-up among its rivals in the region as a fee drought and greater regulation force middle- ranking ...

Source : businessweek-com

08:43 : Has RBS finally grasped the nettle? - Seymour Pierce has upgraded its rating on the state-owned lender to buy believing the overhaul of its investment banking arm could open up shareholder value.

Source : citywire-co-uk

00:10 : Banker John Hourican sees pay soar as RBS axes jobs - Confirmation of the long-expected cuts lifted RBS's share price from 21.79p to 23p last night. The rise added more than £250,000 to the value of an expected bonus pay-out to John Hourican, who has overseen the shrinking global investment banking operations ...

Source : thisismoney-co-uk

00:04 : RBS to shed 4,450 jobs after cutbacks at investment bank - Royal Bank of Scotland has announced a major restructuring of its investment banking arm that will lead to the loss of 3,500 jobs over the next three years.

Source : telegraph-co-uk