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naked capitalism (Free subscription) | 4 hours ago
Britain is moving quickly to use the its new bank rescue facility, which was increased from £59 billion to £75 billion. Note the article suggests that stock market trading may be suspended in connection with the rescues. From the Times Online (hat tip reader Tim): The government will tomorrow launch the biggest rescue of Britain’s high-street banks when the UK’s four biggest institutions ask for a...
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Finance Markets (Free subscription) | 10/10/2008
European equities markets saw another day of steep declines Friday. In London, the FTSE 100 was down 8.85 percent to 3,932.06, closing below 4,000 for the first time in five years, while the FTSE 250 dropped 5.59 percent to 6,778.31. Banks were hard-hit, with Barclays Bank (LSE: BARC; NYSE: BCS; TYO: 8642) down 14.17 percent as HBOS [...]
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Financial Time (Free subscription) | 10/10/2008
The bank's likely participation in the government-funded bail-out makes the positions of Sir Fred Goodwin, chief executive, and Sir Tom McKillop, chairman, more tenuous
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Market Watch (Free subscription) | 6 hours ago
SAN FRANCISCO (MarketWatch) -- Some of the largest U.K. banks hope to unveil plans to raise billions of pounds in new capital on Monday as part of government efforts to stabilize the country's financial system, the Wall Street Journal reported on Saturday. Royal Bank of Scotland Group , Barclays PLC , HBOS PLC , and Lloyds TSB Group PLC began working faster on these plans after Britain's stock market...
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Financial Time (Free subscription) | 10/10/2008
Dividend payouts for the main four UK domestic banks – Royal Bank of Scotland, Barclays, Lloyds TSB and HBOS – are likely to be in shares until 2010
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Globe and Mail (Free subscription) | 10/09/2008
Concern mounts about how British politicians will react to Royal Bank of Scotland pledge to BCE financing
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People Daily (Free subscription) | 10/09/2008
The London stock market opened higher on Thursday in the early trading led by banking shares. The benchmark FTSE 100 was up 103.02 points, or 2.36 percent to4,469.71 by 9:00 BST. Shares of HBOS led the rise by adding 25.04 percent while the Royal Bank of Scotland was up 17.53 percent as investors started to react to the UK government's bail-out plan. The Scottish & Southern Energy shares however went...
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Financial Time (Free subscription) | 10/09/2008
BAA, the airports group, has appointed Royal Bank of Scotland and HSBC as financial advisers for the planned sale of London Gatwick airport. It rejected a rival bid to...
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The Guardian (Free subscription) | 10/09/2008
The credit crunch could force RBS to back out of its deal to sponsor the Six Nations tournament
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Indian Express (Free subscription) | 10/09/2008
HSBC Holdings Plc, Royal Bank of Scotland Group Plc and the biggest UK banks face the most debt coming due in at least 10 years as the credit market seizure raises borrowing costs to the highest on record.
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Confessions of a Wino (Free subscription) | 10/08/2008
Good evening credit crunchers, how are your bank shares doing? Yes I know, mine too. With the sole exception of HSBC. With a much higher than average capital ratio, HSBC shares have risen 4% this year, whilst other banks (e.g RBS, HBOS) have tanked to one fifth of their recent value, and my old mate, [...]
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Business Week (Free subscription) | 10/08/2008
S&P Picks and Pans: Alcoa, Wal-Mart, Department Stores, Royal Bank of Scotland, MetLifeAnalysts' opinions on stocks in the news Wednesday From Story Tools S&P DOWNGRADES OPINION ON SHARES OF ALCOA INC. TO SELL FROM BUY (; 16.71): Our opinion change is based on valuation. AA posts third quarter EPS of $0.37, vs. $0.38, before special items in both periods, on a 2.1% sales decline, shy of our $0.55 estimate...
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Ecademy: user blogs (Free subscription) | 10/08/2008
This year, like most others I have taken many bankers white water rafting and also on other adventure activities like canyoning. The have been a mix of hard working branch staff to fund managers to directors and everything in between. We have had clients from HBOS, RBS, HSBC , Lloyds/TSB as well as a selection of merchant bankers from the elite city merchant banks some still with us some now gone bust....
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Tax Research UK (Free subscription) | 10/07/2008
Tomorrow morning it seems likely that £50 billion will be injected into the banking system. Tonight the market capitalisation of RBS is £14.9 billion. Barclays is about £24 billion. LLoyds TSB is worth £13.5 billion. HBOS is worth £5 billion. I’m assuming HSBC is not in this deal. That means the total market capitalisation of these banks is £58 billion now, [...]
