Stock Market & Financial Investment News

News Breaks September 14, 2012 06:14 EDT RBS RBS to launch IPO of Direct Line Insurance RBS Group announces its intention to launch an IPO of Direct Line Insurance Group plc in an all-secondary offering of Direct Line Group shares to be sold by RBS. Commenting on today's announcement, Bruce Van Saun, Group Finance Director of RBS, said: "We are pleased to confirm today our intention to commence an IPO of Direct Line Group. We believe it has a strong future as a standalone insurance group continuing to serve its customers well while delivering attractive returns to investors." In 2009, as a condition to its receipt of State Aid, RBS committed to the European Commission to undertake a series of measures, which include disposing of its interest in Direct Line Group. To comply with this requirement, the RBS must cede control of Direct Line Group by the end of 2013 and must have divested its entire interest by the end of 2014. News For RBS From The Last 14 Days Check below for free stories on RBS the last two weeks. Sign up for a free trial to see the rest of the stories you've been missing. May 20, 2013 10:10 EDT RBS Royal Bank of Scotland management to meet with JPMorgan Subscribe for More Information 06:37 EDT RBS Royal Bank of Scotland announces new chairman of Asia unit, NY Times says Subscribe for More Information May 16, 2013 12:32 EDT RBS EU bank stress test delayed until 2014 by regulator The EBA agreed on recommendations to supervisors to conduct asset quality reviews on major EU banks. While banks’ capital positions were significantly strengthened under the EBA’s recapitalisation exercise, the objective of the asset quality exercises will be to review banks’ classifications and valuations of their assets so to help dispel concerns over the deterioration of asset quality due to macroeconomic conditions in Europe. Since appropriately reviewed balance sheets are a key input to an effective stress test, the EBA has also adjusted the timeline of the next EU-wide stress test so to conduct the exercise in 2014 once the asset quality reviews are completed. However, to ensure transparency and comparability over the years, the EBA will provide, in 2H, appropriate disclosure on the actual exposures of the EU banking sector. Reference Link 07:53 EDT RBS U.K. PM Cameron indicates he wants RBS in good shape for a sale, FT reports Subscribe for More Information 07:35 EDT RBS Royal Bank of Scotland to cut 1,400 jobs in U.K., Reuters reports Subscribe for More Information May 13, 2013 14:47 EDT RBS Royal Bank of Scotland management to meet with JPMorgan Subscribe for More Information 06:49 EDT RBS ECB member says negative deposit rates would help economy, Reuters says Subscribe for More Information May 9, 2013 12:23 EDT RBS RBS Citizens Financial CEO Alemany to retire in September Subscribe for More Information May 7, 2013 06:06 EDT RBS RBS's Coutts & Co. reduces gold holdings, Bloomberg reports Coutts & Co., the private-banking division of Royal Bank of Scotland Group, reduced its gold holdings as prices fell through $1,600 an ounce, saying that a return to the peak isn’t likely unless there’s a crisis in the Middle East, a weaker dollar or a jump in inflation, reports Bloomberg. The bank holds about 1% to 2% in its portfolios, compared with 6% to 7% at the end of Q3. Reference Link 05:34 EDT RBS Royal Bank of Scotland downgraded to Neutral from Overweight at JPMorgan Subscribe for More Information Sign up for a free trial to see the rest of the stories you've been missing.