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DealBook (Free subscription) | yesterday
Royal Bank of Scotland looks increasingly likely to shelve plans to sell its insurance arm and turn instead to smaller deals to strengthen its capital base. The bank announced plans in April to sell RBS Insurance, the largest car insurer in Britain. But trading conditions have deteriorated and the top prospects have reportedly pulled out, leaving [...]
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Reuters UK (Free subscription) | 10 hours ago
LONDON (Reuters) - Tesco , Britain's biggest retailer, is near to reaching a 1 billion pound deal to buy out Royal Bank of Scotland's stake in their personal finance joint venture, sources familiar with the matter said.
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Market Watch (Free subscription) | 14 hours ago
LONDON (MarketWatch) -- Citigroup downgraded British bank Lloyds TSB to hold from buy as it expects the U.K. to fall into a recession in the second half of 2008. It cut earnings estimates by at least 40% on Royal Bank of Scotland , Alliance & Leicester , HBOS and Barclays and retained sell ratings on HBOS and Barclays. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as...
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Banking Times: Daily Banking News (Free subscription) | 10 hours ago
Royal Bank of Scotland (RBS) may be reconsidering plans to raise capital through the sale of its insurance business. Zurich Financial Services, the latest bidder to withdraw from the sale process, could have been put off by doubts about the future profitability of parts of the unit. According to reports by Reuters and Insurance Times, RBS’s Direct [...]
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The Telegraph (Free subscription) | 21 hours ago
Royal Bank of Scotland is close to selling its stake in Tesco Personal Finance to the supermarket giant.
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Money Swindon (Free subscription) | yesterday
Fund manager James Foster of Artemis says heads of failing banks such as Fred Godwin of Royal Bank of Scotland & Andy Hornby of Halifax Bank of Scotland, "should be shown the door". He continues, "they had forgotten the basic tenets of banking". He was referring to their current problems, the way in which these had arisen & how the management of the banks are tackling them. From Professional
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Scotsman.com (Free subscription) | yesterday
BANKERS and analysts yesterday claimed the odds are sharply narrowing on Royal Bank of Scotland shelving plans to sell its insurance arm. Commonwealth Bank of Australia, mean
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Reuters UK (Free subscription) | 07/23/2008
LONDON (Reuters) - Royal Bank of Scotland looks increasingly likely to shelve plans to sell its insurance arm and turn instead to other smaller deals to top up its capital.
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DealBook (Free subscription) | 07/23/2008
Commonwealth Bank of Australia is in exclusive talks with Royal Bank of Scotland to acquire the Australian and New Zealand operations of ABN Amro, in a deal that could be valued at as much as 1 billion Australian dollars ($971 million). Less than a day after rival National Australia Bank said it was no longer interested [...]
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Banking Times: Daily Banking News (Free subscription) | 07/23/2008
Royal Bank of Scotland’s (RBS) efforts to raise capital by selling off its non-core businesses have suffered yet another setback. National Australia Bank has announced that it is withdrawing its interest in the Australian and New Zealand operations of ABN Amro, which were acquired by RBS last year. The business employs around 750 staff and specialises in [...]
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Forbes (Free subscription) | 07/23/2008
Following National Bank of Australia's withdrawal from the bidding process, rival Commonwealth Bank enters into exclusive negotiations with Royal Bank of Scotland.
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Business Spectator (Free subscription) | 07/23/2008
Local lender in discussions with Royal Bank of Scotland for ABN buy. 23 Jul 2008 9:54 AM
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icWales (Free subscription) | 07/23/2008
ATTEMPTS by Royal Bank of Scotland to sell the Australian and New Zealand operations of recent acquisition ABN Amro were dealt a blow yesterday.
