|January 6, 2013|
|16:55 EDT||APO, RBS||Apollo, JC Flowers agree on executive to run RBS branches, Telegraph says|
JC Flowers and Apollo (APO) are said to have agreed that David Morgan, the head of JC Flowers’ European and Asian operations, will run the 316 Royal Bank of Scotland (RBS) branches if their bid is successful, the Telegraph says. Reference Link
News For APO;RBS From The Last 14 Days
Check below for free stories on APO;RBS the last two weeks.
|July 23, 2014|
|09:00 EDT||RBS||U.K. committee chair says RBS 'willfully obtuse' with evidence, Reuters says|
The chairman of the U.K.'s Treasury Select Committee accused Royal Bank of Scotland of being "willfully obtuse" when giving evidence to lawmakers probing its Global Restructuring Group unit, which deals with corporate clients who find themselves in financial distress, said Reuters. Reference Link
|06:56 EDT||RBS||RBS could sell Ulster Bank to private equity firm, Irish Examiner reports|
Royal Bank of Scotland (RBS) is considering selling its Ulster Bank unit to a private equity firm, the Irish Examiner. A purchase price for the unit could be anywhere between EUR500M-EUR2.5B, depending on what assets are included in the sale, the publication says. KKR (KKR) and Apollo (APO) are rumored buyers for the unit. Reference Link
|July 18, 2014|
|11:21 EDT||RBS||British antitrust regulator to investigate country's banks, NY Times reports|
The U.K.'s antitrust authorities said they expected to open a formal investigation into Britain's retail banking industry, reports the New York Times. The regulators cited barriers to competition that include control of a national network of branches by four large banks that control more than three-quarters of the market. Reference Link
|06:31 EDT||RBS||RBS winds-down distressed-debt unit as Weiss leaves, Bloomberg says|
Royal Bank of Scotland is capping a distressed-debt division as it scales back its investment firm to revive profitability, according to Bloomberg citing three people familiar with the matter. The sources said that global head of a special situations group, Jon Weiss, departed this month. Reference Link
|06:20 EDT||RBS||RBS considers selling Coutts' overseas operations, FT reports|
Royal Bank of Scotland is eyeing the sale of Coutts' overseas operations, the Financial Times reports. The bank is currently conducting a review of its wealth management division. Reference Link
|July 11, 2014|
|08:19 EDT||APO||Apollo Global valuation attractive after pullback, says BMO Capital|
After meeting with Apollo Global's CFO, BMO Capital is upbeat about the company's outlook. The firm expects the company's credit business to be a growth driver for years to come, although its private equity business is expected to show very slow growth, according to BMO Capital. The firm raised its price target on the shares to $36 from $35 and keeps an Outperform rating,
|06:48 EDT||RBS||Bank of England says banks' capital requirement could rise, Reuters reports|
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|July 10, 2014|
|11:21 EDT||APO||International Game Technology rises as GTECH reportedly prepares bid|
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|07:08 EDT||RBS||ECB keeps tight grip on banks with health check results, Reuters says|
The European Central Bank is targeting to keep a tight grip banks in the final phase of a balance sheet health check in October, giving them only 48 hours to review the test results before publishing them, according to Reuters, citing two people familiar with the matter. The assessment will look into banks’ balance sheets and measure their ability to handle shock and stress. Publicly traded European banks include Banco Santander (SAN), Barclays (BCS), Credit Suisse (CS), Deutsche Bank (DB), HSBC (HSBC), ING Groep (ING), Lloyds Banking (LYG), Royal Bank of Scotland (RBS) and UBS (UBS).
|July 9, 2014|
|10:02 EDT||APO||On The Fly: Analyst Downgrade Summary|
Today's noteworthy downgrades include: Advanced Energy (AEIS) downgraded to Neutral from Buy at Dougherty... Apollo Global (APO) downgraded to Neutral from Buy at Citigroup... Artisan Partners (APAM) downgraded to Neutral from Buy at Citigroup... Autoliv (ALV) downgraded to Hold from Buy at Nordea... BNP Paribas (BNPQY) downgraded to Neutral from Overweight at JPMorgan... BP (BP) downgraded to Hold from Buy at Deutsche Bank... Carlyle Group (CG) downgraded to Neutral from Buy at Citigroup... Coach (COH) downgraded at Buckingham... Cummins (CMI) downgraded to Buy from Conviction Buy at Goldman... Garmin (GRMN) downgraded to Underperform from Sector Perform at Pacific Crest... Gigamon (GIMO) downgraded to Buy from Strong Buy at Needham... International Paper (IP) downgraded at RBC Capital... Louisiana-Pacific (LPX) downgraded at RBC Capital... Marvell (MRVL) downgraded to Underperform from Perform at Oppenheimer... McGraw Hill Financial (MHFI) downgraded to Market Perform at Raymond James... Moody's (MCO) downgraded to Market Perform from Outperform at Raymond James... Plum Creek Timber (PCL) downgraded at RBC Capital... Potash (POT) downgraded to Neutral from Overweight at JPMorgan... RGS Energy (RGSE) downgraded at Cowen... Taminco (TAM) downgraded to Neutral from Buy at Citigroup... Total (TOT) downgraded to Hold from Buy at Societe Generale... Unilever (UN) downgraded to Reduce from Neutral at Nomura... VMware (VMW) downgraded to Market Perform from Outperform at Wells Fargo... Vectren (VVC) downgraded to Hold from Buy at KeyBanc.
|06:16 EDT||APO||Apollo Global downgraded to Neutral from Buy at Citigroup|
Citigroup downgraded Apollo Global to Neutral citing higher uncertainty around rising rates. Citi lowered its price target for shares to $28 from $32.