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Stock Market & Financial Investment News

News Breaks
February 5, 2013
13:52 EDTRBSRoyal Bank of Scotland to settle Libor case, WSJ reports
Royal Bank of Scotland (RBS) is expected to announce a settlement of up to $700M with U.S. and British authorities related to Libor manipulation allegations, reports the Wall Street Journal. According to people briefed on the settlement talks, a unit of RBS will likely plead guilty to a crime in the U.S. although RBS executives have been hoping to avoid a guilty plea. Reference Link
News For RBS From The Last 14 Days
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February 26, 2015
14:01 EDTRBSBarclays to double provision for forex rigging fines, Sky News says
Barclays (BCS), which previously excluded itself from a broader settlement between several banking peers and regulators over alleged manipulation of foreign exchange rates as it worked to secure a binding agreement with all relevant authorities, will more than double its existing provision for forex fines next week, which may indicate that a settlement deal could be announced soon, said Sky News. Barclay took a GBP500M charge during the course of last year in advance of expected forex issue costs, the report noted. Other banks that previously agreed to a settlement included Bank of America (BAC), Citibank (C), HSBC (HSBC), JPMorgan Chase (JPM), RBS (RBS) and UBS (UBS). The report indicates that U.S. regulators have stepped up talks with banks including Barclays and the others involved. Reference Link
12:57 EDTRBSRBS to cut more than 1,000 jobs at U.S. trading unit, Bloomberg reports
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11:29 EDTRBSRBS expects core UK/Irish businesses to perform well in 2015
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11:27 EDTRBSRBS intends to move towards capital target of 13% CET in 2015
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11:27 EDTRBSRBS reports FY14 operating profit of GBP 3.5B, compared to GBP 7.5B in 2013
This reflected improved operating results from the core domestic businesses together with significant impairment releases in Ulster Bank and RBS Capital Resolution. Reports 2014 Common Equity Tier 1 ratio of 11.2%. Reports it exceeded its 2014 cost reduction targets with savings of GBP 1.1B.
10:00 EDTRBSOn The Fly: Analyst Downgrade SummaryStarz
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08:12 EDTRBSRBS downgraded to Underperform from Neutral at BofA/Merrill
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07:41 EDTRBSMizuho Financial Group acquires credit portfolio from RBS
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06:25 EDTRBSRBS to greatly reduce investment bank unit, Financial Times says
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06:15 EDTRBSRBS confirms Howard Davies to succeed Philip Hampton as chairman
Following its announcement on September 25 that Philip Hampton would leave The Royal Bank of Scotland Group during 2015, RBS announced that Howard Davies will succeed him as Chairman. Philip Hampton will step down as Director and Chairman of RBS with effect from August 31. Howard Davies will join the Board at the end of June and assume the role of Chairman from September 1. Howard is currently Chairman of Phoenix Group, a non-executive Director of Prudential plc, and a non-executive Director of Morgan Stanley. He will step down from Phoenix and Morgan Stanley. He will complete his work as Chairman of the UK Airports Commission before assuming the role of RBS Chairman and will retain his position at Prudential and as Professor of Practice at Sciences Po, Paris.
06:14 EDTRBSRBS announces sale of North American loan portfolio to Mizuho
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February 25, 2015
06:07 EDTRBSRBS suspends two additional employees in forex investigation, Reuters says
RBS stated Wednesday it has suspended an additional two employees as part of its investigation into failures to stop foreign currency markets, reports Reuters, citing company statements. The bank had earlier suspended three employees and placed six into a "disciplinary process." Reference Link
February 24, 2015
13:07 EDTRBSEU official: Euro banks shouldn't also go through Fed's stress test, WSJ says
Jonathan Hill, the European Unionís new financial markets chief, told The Wall Street Journal that he does not see a need for the U.S. to give stress tests to European banks that have already received health checks in Europe. Hill says banks across Europe are "properly and sensibly capitalized." The WSJ reported last week that the U.S. units of two European banks, Deutsche Bank (DB) and Banco Santander (SAN), are set to fail the Federal Reserve's stress tests, though they passed ECB stress tests last year. Reference Link
07:49 EDTRBSRBS to downsize investment bank, Asia operations, Reuters says
RBS will transfer responsibility of its investment bank from Donald Workman to restructuring chief Rory Cullinan in order to scale back operations at the unit and largely pull out of Asia, reports Reuters, citing three sources. The bank is expected to announce downsizing in Asia to just 200 staff in Singapore, down from 2,800 in late 2014. Cullinan will also lead the banks exit from "several European markets," said the sources. Reference Link
February 23, 2015
13:33 EDTRBSRBS could name Howard Davies as chairman this week, FT reports
Royal Bank of Scotland (RBS) could name Howard Davies as its chairman as early as Thursday, when the bank reports its full-year results, the Financial Times reports. Davies is currently chairman of insurance business Phoenix Group and chairs Morgan Stanley's (MS) risk committee. Current RBS Chairman Philip Hampton is set to become GlaxoSmithKline's (GSK) chairman as early as this summer. Reference Link
February 19, 2015
14:21 EDTRBSS&P reportedly says Greece contagion not a major risk, Reuters reports
The risk of contagion spreading from Greece to other European countries is not that large, a German newspaper quoted S&P's chief sovereign ratings officer as saying, according to Reuters. The euro zone would be able to handle an exit of the bloc by Greece, the ratings officer was quoted as saying, Reuters reported. Publicly traded European banks include Banco Santander (SAN), Barclays (BCS), Credit Suisse (CS), Deutsche Bank (DB), HSBC (HSBC), ING Groep (ING), Lloyds Banking (LYG), RBS (RBS) and UBS (UBS). Reference Link
06:04 EDTRBSFCA to investigate investment and corporate banking
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