Law Blog - WSJ.com (Free subscription) | 1 hour ago
Stephen Hester was tapped as the likely CEO of RBS. The appointment would put Hester at the helm of a bank that has grown rapidly since 2000, but has recently stumbled.
Market Watch (Free subscription) | 5 hours ago
Fred Goodwin, chief executive officer of Royal Bank of Scotland Group, will reportedly leave the struggling bank.
naked capitalism (Free subscription) | yesterday
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...
Times of India (Free subscription) | 4 hours ago
The UK government will on Monday launch the biggest rescue of Britain's high-street banks when the UK's four biggest institutions ask for a £35 billion financial lifeline.
Daily Mail online | Home (Free subscription) | 6 hours ago
Royal Bank of Scotland boss Sir Fred Goodwin is set to become the highest profile British casualty of the global banking crisis.
The Telegraph (Free subscription) | yesterday
The Six Nations rugby tournament is likely to have to find a new sponsor because the current deal with Royal Bank of Scotland is due to expire next spring.
McCabism (Free subscription) | 1 hour ago
The commercial rights to F1 are owned by a private finance company called CVC. When CVC purchased these rights they did not, of course, do so with their own money, but with money lent to them by other people. To be precise, they borrowed £1.4 billion from Lehman Brothers and RBS. In 2007, CVC's F1 holding company, Delta 3, made a loss of £235 million, which included £130 million in interest payments...
The Bankwatch (Free subscription) | yesterday
With RBS expected to get $15Bn, that emphasizes the extent to which the British government are apparently going to support British banks. State to save HBOS and RBS | Sunday Times The scale of the fundraising could lead to trading at the London stock market being suspended. This would give time for the market to digest the [...]
Indian Express (Free subscription) | 3 hours ago
The UK will launch the biggest rescue plan on Monday to cover Britain's top banks -- RBS, HBOS, Lloyds TSB and Barclays -- when these four financial giants ask for a combined 35 billion pound lifeline, says a media report.
Crooked Timber (Free subscription) | yesterday
The British government has abandoned proposals for non-voting preference shares and is moving towards full-scale nationalisation of the banking sector. According to the London Times(h/t Felix Salmon) the latest proposals would leave the government owning 70 per cent of Royal Bank of Scotland and 50 per cent of Halifax. The London stockmarket is likely to [...]
Boston Globe (Free subscription) | yesterday
Britain will launch its biggest retail bank rescue on Monday when the four largest, HBOS, Royal Bank of Scotland , Lloyds TSB and Barclays, ask for a combined 35 billion pounds ($60.5 billion) lifeline, the Sunday Times reported.
France24 (Free subscription) | yesterday
The British government is considering a $60.5 billion rescue of the country's four largest retail banks - HBOS, Royal Bank of Scotland, Lloyds TSB and Barclays - according to a Sunday Times report posted on its website.
MSNBC.com (Free subscription) | yesterday
Britain will launch its biggest bank rescue on Monday when the four largest, HBOS, Royal Bank of Scotland, Lloyds TSB and Barclays, ask for a $60.5 billion lifeline, the Sunday Times reported.
Boston Globe (Free subscription) | yesterday
Britain will launch its biggest retail bank rescue on Monday when the four largest, HBOS, Royal Bank of Scotland , Lloyds TSB and Barclays, ask for a 35 billion sterling ($60.5 billion) lifeline, the Sunday Times reported.
Market Watch (Free subscription) | 10/11/2008
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...
