Losses at RBS are slashed to just £3.6bn February 25, 2010 Royal Bank of Scotland claimed its darkest days have passed as it posted annual losses of £3.6bn – down from £24bn in 2008. The group’s core business – which includes only the departments that will remain after the bank is forced to restructure – saw profits jump from £4.4bn in 2008 to £8.3bn last year. [...]
Borthwick in no mood to bow to critics February 25, 2010 DEFIANT England captain Steve Borthwick is refusing to back down over his controversial appraisal of the team’s performance against Italy. Borthwick, whose side face Ireland tomorrow, prompted raised eyebrows when he described elements of England’s play during the 17-12 win in Rome as “fantastic”. A workmanlike win drew little praise elsewhere, however, with even England [...]
Investment banking is star of show February 25, 2010 IT looks like Stephen Hester deserved his £1.6m bonus after all. Yesterday, the bank delivered a stronger-than-expected set of numbers, even if the mainstream media continued to fixate on the government’s decision to rubber stamp bonus payments for staff. Analysts at Nomura think RBS could end up back in the black before this year is [...]
Just £1.3bn bonus pot … but more than 100 will get £1m February 25, 2010 More than 100 Royal Bank of Scotland bankers will receive bonuses of more than £1m. The news comes as RBS announced it will pay out just £1.3bn in bonuses this year – the lowest compensation ratio in the industry. The ratio is set at just 27 per cent, far below the 38 per cent revealed [...]
New look board behind the turnaround at RBS February 25, 2010 The Royal bank of Scotland chairman yesterday pinned the bank’s change in fortunes on the strength of its new board. Philip Hampton said the people who brought the institution to the brink of collapse have all been culled. The board, which has stemmed RBS’ losses at £3.6bn after it lost £24bn the year before, has [...]
Gerrard creates history February 25, 2010 UNIREA URZICENI (1) v/s LIVERPOOL (3) LIVERPOOL boss Rafael Benitez hailed his side’s resilience after they came back from an early scare to set up a last 16 tie against Lille. Unirea levelled the tie on aggregate with a Joao Bruno Fernandes header after 18 minutes but the Reds hit back through Javier Mascherano, before [...]
Capello’s is a team in crisis February 25, 2010 FOUR months ago, it was all sweetness and light. Now, it’s a total mess. With the World Cup getting ever closer and England losing another key player in Wayne Bridge, this is suddenly a team in crisis and Capello must be pulling his hair out. Let’s go through the side as it stands. Our No1 [...]
Arsenal’s Gibbs is back in the frame, says Wenger February 25, 2010 ARSENAL boss Arsene Wenger believes injured left-back Kieran Gibbs could recover in time to sneak into England’s World Cup squad. Wayne Bridge’s international retirement has moved highly-rated Under-21 star Gibbs further up the pecking order. The 20-year-old is still in a cast after multiple operations on a broken foot bone but is on course to [...]
Greek losses dent Credit Agricole profit February 25, 2010 CREDIT Agricole, reported lower-than-expected fourth-quarter profit yesterday, with earnings hit by losses in Greece, although France’s biggest retail bank said it had made a good start to 2010. “Initial trends in 2010 confirm that all of the group’s businesses are performing well,” Agricole said. Agricole’s net profit rose to €433m (£383.8m), compared to a loss [...]
Allianz predicts flat 2010 as boosts dividend payout February 25, 2010 EUROPE’S biggest insurer Allianz yesterday forecast a stagnating year ahead, mired in low economic growth and high unemployment. It unveiled net profit of €1.076bn (£1bn) in the fourth quarter, shy of the €1.17bn expected in consensus forecasts and lifted its dividend by almost one fifth. But it said 2010 operating profit will match the €7.2bn [...]
