RBS shares tumble after another “noisy” loss-making quarter October 28, 2016 The Royal Bank of Scotland (RBS) reported an attributable loss of £469m for the third quarter of 2016 after being hit with nearly £900m of litigation and restructuring costs. Shares jumped five per cent in morning trading before falling back – it was 1.6 per cent lower, at 193.3p, in lunchtime trading [stockChart code="RBS" date="2016-10-28 09:21"] [...]
Persistent headaches: Five problems facing RBS chief exec Ross McEwan October 28, 2016 Ross McEwan may have been pleasantly surprised as he peaked through his fingers to see what had happened to the Royal Bank of Scotland's (RBS) share price this morning. Read more: RBS shares jump up and down to the noise of loss-making quarter Unfortunately for the chief exec of RBS, an initial jump of five per cent wobbled [...]
How to break into hard-to-access funds October 18, 2016 Now more than ever, portfolio diversification is critical. Recent market upheaval following the Brexit vote has begged the question: how diverse should a portfolio be? What should this look like in practice? And given that funds tend to be the most straightforward way for individuals to invest, what alternatives are there to mainstream quoted equity [...]
Is Deutsche Bank the world’s greatest contrarian trade? October 3, 2016 Who'd invest in a German bank? A roller-coaster two weeks for Deutsche Bank, the country’s largest lender by assets, has only reinforced the volatile position the sector now finds itself in. It’s highly likely that the top dogs at Deutsche will sweet-talk US regulators into reducing their $14bn settlement, but the bank is by no means [...]
“Forces in the market want to weaken us”: John Cryan seeks to reassure Deutsche Bank staff September 30, 2016 Deutsche Bank shares edged back over the €10 mark in mid-morning trading after chief executive sought to reassure staff in a company-wide memo. In the document, Cryan suggested the bank was strong and hit out at "speculators" for causing wild swings in the company's share price. "Our bank has become the object of heavy speculation – renewed rumours [...]
Deutsche Bank US share price plunges after reports suggest funds have lost faith in the lender September 29, 2016 Troubled financial giant Deutsche Bank saw its shares plummet again in New York last night, dragging Wall Street into the red. The German lender's New York-listed stock dived after reports emerged that several key funds have slashed their exposure to the bank. The news sent shivers through banking sector equity markets, with the S&P 500's financial [...]
As a beleaguered Deutsche Bank faces a $14bn fine, Angela Merkel has ruled out state aid, but could a bailout be on the cards? September 27, 2016 Recent discussion of possible European bank bailouts has focused on Italy. Saddled with €360bn of souring loans and enfeebled by a stagnant, over-regulated economy, a number of Italian lenders face a very real risk of insolvency. In July, the country’s third largest, Monte dei Paschi di Siena, failed a stress test set by the European Central [...]
City Moves for 5 September 2016 | Who’s switching jobs September 5, 2016 United Trust Bank United Trust Bank has appointed Richard Murley as its new chairman. His appointment follows the recent retirement of previous chairman, Nicholas Clegg CBE, who fulfilled the role for the last 15 years. Richard has been chairman of the University College London Hospitals Foundation Trust (UCLH) since 2010. He is a qualified solicitor and has [...]
PCP Capital Partners alleges Barclays loaned $3bn (£2.3bn) to Qatar to fund purchase of bank’s shares September 1, 2016 An investor is alleging Barclays handed Qatar a $3bn (£2.3bn) loan so it could purchase the bank's shares. PCP Capital Partners has filed documents containing the allegation at the High Court. According to documents seen by Sky News, which first reported the story today, the alleged loan was made in 2008, at a time when the [...]
City Moves for 23 August 2016 | Who’s switching jobs August 23, 2016 Alpha FMC Alpha, the asset management consultancy, has appointed Adrian Keen as chief financial officer. Adrian will work with the senior team to oversee all financial operations of the group. Adrian brings broad experience with him to Alpha. A chartered accountant, Adrian worked in the audit function at KPMG before pursuing roles in industry, in sectors as diverse as software, [...]