All Entries in the "Business News" Category
Bank of England Money Supply: Printing £50bn more
The radical programme of printing money by The Bank of England is expected to continue today by a further £50b, as the country fights against the deepest downturn for decades.
Santander Wants Share in RBS: To Study Acquisition
According to a Spanish newspaper, Santander (NYSE:STD) may be interested in buying part of the Royal Bank of Scotland (LON:RBS).
Bank of America Extends CEO Search to New York
Bank of America Corp (NYSE:SZE) have decided to broadened its search for a chief executive officer (CEO) to include candidates who want to live in New York.
Federal Reserve Issues Deadline to Wall Street’s Bankers
The Federal Reserve regulators told leaders of 28 of the largest financial firms, that the central bank was serious about enforcing the executive pay guidelines it proposed late last month and now they have told Wall Street’s bankers they have till Feb 1st.
UBS Shows Positive Quarter: Closer into the Black
UBS (NYSE:UBS) the fixed income, currencies and commodities group, have reported its first positive quarter in more than two years. UBS bore the brunt of the Swiss bank’s losses in the credit crisis.
Barclays Parts with CEO Ahead of Restructure
Barclays (LON:BARC) will see the departure of Frits Seegers, the chief executive of its retail and commercial bank. His departure comes amid a restructuring of the way Barclays runs its businesses.
Stockbroker Thoughts of UK Bank Break-up
In light of the decision to break up RBS (LON:RBS) and Lloyds Banking Group (LON:LLOY). The Telegraph has spoken to stockbrokers to gather their thoughts regarding whether investors should take up their rights.
Wachovia Online Banking and Erosion of Market Share
In Augusta Wachovia (NYSE:WB-S ) still leads the way as the bank that holds the most money; however the market share it holds has eroded over the last year from 24.5 percent to 21.9 percent according to the annual FDIC report.
Cit Group vs. Citigroup: The difference and bankruptcy
As you may have read in a recent post published CIT group have listed $71 billion in assets and $64.9 billion in liabilities in a Chapter 11 petition yesterday at a U.S. Bankruptcy Court in Manhattan. This group is not to be confused with Citigroup.
Bank of America: Robert Kelly shows no interest in CEO job
The Wall Street Journal reports that Robert Kelly the Bank of New York Mellon Corp Chief Executive had been approached about the job for Bank of America (NYSE:BAC) as their CEO, however he has shown no interest.
Bernard Madoff interview from prison
Bernard Madoff who was behind the world’s biggest Ponzi fraud, has revealed in an interview with the Securities and Exchange Commission (SEC) Inspector General David Kotz, how he got away with the fraud for so long.
Bank charges explained by Halifax
A court ruling to curb bank charges is expected any day soon. Several banks have pre-empted the ruling by changing their charges, and Halifax (AMEX:HX) are the latest to attract criticism this week.
Barclays expected acquisition of Standard Life Bank
According to industry figures, Barclays (LON:BARC) which is expected to take over Standard Life Bank (SL) for £226m will enhance its strong position in the market. The mortgage book for the Bank has outstanding balances of approximately £8.8bn and average 48% loan to value (LTV).
RBS and Lloyds Banking Group: Alistair Darling’s reform
Chancellor Alistair Darling will bow to pressure from Brussels and agree to break up banks that are supported by the taxpayer. The future of high street banking will change for ever.
Lloyds Banking Group News: UKFI allows Resolution to acquire assets
The Treasury has assured Clive Cowdery’s Resolution that a potential acquisition of assets, which is owned by the Lloyds Banking Group, will not affect the Guernsey domicile of the firm. There have been a number of rumors that both Scottish Widows and Clerical Medical are at the top of Cowdery’s acquisition targets.