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Royal Bank of Scotland struggling to sell US offshoot
Despite apparently agreeing a sale of its trading business Sempra to JP Morgan Chase it looks as though Royal Bank of Scotland will have to revise these plans after the US government introduced the idea of a possible ban on various trading practices. These high-risk trading practices are central to the Sempra operation and many believe the planned $2 billion sale could be derailed in the short ter...
Read MoreGovernment confirms bailout part two being considered
The government has this evening broken its silence on rumours that the UK banking sector is set to receive billions of pounds in additional taxpayers funding. Despite suggestions that this was not the "first port of call" from Alistair Darling there was a feeling that the government is paving the way for an additional funding programme in the UK banking sector.
As we have covered ov...
Icelandic government looking to invest in UK retailers
The demise of Icelandic investment company Baugur has opened up a relatively interesting opportunity for the Icelandic government to require a number of share stakes across the UK retail sector. Baugur was heavily involved in such names as House of Fraser and many other well-known UK operations prior to its financial demise as the Icelandic financial system crashed just a few months ago.
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Lloyds TSB Reports 70% Drop In Profits
Profits at Lloyds TSB, one of the leading UK banks, fell by 70% for the first half of 2008 with the bank reporting a figure of £599 million compared to £1.99 billion for the same period last year. While the bank has been hit by the credit crunch, Lloyds offers the least overseas diversification of any of the UK majors, something which is starting to worry analysts a little.
In a...
Will Sky really suffer from a wholesale price reduction?
As the debate regarding Ofcoms move to force Sky to reduce wholesale prices for its subscription channels rages in the press there is a growing feeling that Sky will actually benefit from the move. On the face of it a 23% reduction in wholesale prices does not look good news for the company but when you consider that the likes of BT and Virgin Media will take up these reduced cost services and mar...
Read MoreFSA slams controls in financial sector
The Financial Services Authority (FSA) has this week sent out a "Dear CEO letter" to 1,000 chief executives within the insurance, asset management and investment banking community demanding that "chaotic controls" regarding the handling of client assets are addressed immediately. Accompanying the letter was a report put together by the FSA over the last six months which detailed a number of major...
Read MoreOil saga in the Falklands moves to UN
Despite the fact that the UK has held sovereignty over the Falkland Islands and its surrounding waters since the mid-1800s, Argentina is again attempting to stake a new claim for sovereignty of the islands and the surrounding waters. This comes at a time when a small band of UK oil explorers have moved into the region with experts predicting that billions of barrels of oil could be discovered unde...
Read MoreGlossary of Investment Terms (I)
The following are useful investment terms beginning with ‘I’ ICVC (Investment Company with Variable Capital) This is the generic term for an OEIC or similar investment vehicle where investors pool their contributions with those of other people, to create a portfolio of assets. IMA sectors Grouping of funds for performance measurement by the Investment...
Read MoreFSA backs hedge funds
Hedge funds, investment vehicles which can take very large and very controversial investment positions, have found an unexpected supporter today with the Financial Services Authority (FSA) confirming that in its opinion hedge funds do not pose systematic risk to investment markets. The hedge fund industry has become central to EU regulation with Brussels now more determined than ever to grab contr...
Read MoreRoyal Bank of Scotland appoints Standard Life chief executive
Royal Bank of Scotland has been forced to hire Sir Sandy Crombie in the role of the "champion of investor interests" in a move designed to take off some of the heat directed at the Royal Bank of Scotland board. The company has been under pressure since agreeing a substantial pension arrangement with outgoing chief executive Sir Fred Goodwin and a change in the investor relations department was ine...
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