Financial Services Sector News

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  • RBS Shares Sold At £1bn Loss To Taxpayers

    The Government has disposed of roughly 5.4% of its stake in Royal Bank of Scotland (LSE: RBS.L - news) (RBS) for £2.1bn - a loss of around £1bn to taxpayers. Monday's sale of 333,000 shares at 330p each is far short of the average 'in-price' of 502p paid by the Government went it bailed out the bank during the financial …

  • (ShareCast News) - European equities were lower in early trade, with oil and gas stocks leading the decline as investors sifted through a raft of earnings reports.

  • ** London-focused estate agent Foxtons down 3 pct & top FTSE-250 loser after Barclays says post-election recovery likely to be patchy ** Brokerage cites thin supply of housing in the market & pressure ...

  • BUZZ-RSA: Hits fresh 20-month high on Zurich bid chat Reuters - UK Focus - 33 minutes ago

    ** British insurer RSA adds to recent gains, rising 0.7 pct to highest since Nov 2013 as investors speculate on size of cash bid for the company by Zurich Insurance ** Zurich has said it is weighing bid ...

  • Sterling slips on UK construction PMI miss, awaits BoE Reuters - UK Focus - 34 minutes ago

    Sterling dipped against the dollar and the euro on Tuesday, after growth in Britain's construction industry slowed unexpectedly in July. The monthly Markit (NasdaqGS: MRKT - news) /CIPS UK construction purchasing managers' index (PMI) fell to 57.1 after hitting a four-month high of 58.1 in June, confounding a Reuters …

  • Aviva plc (LON: AV), Old Mutual plc (LON:OML) and Standard Life Plc (LON: SL) are all well placed to generated long-term growth.

  • Earnings-day blues drags UK shares down Reuters - UK Focus - 56 minutes ago

    Top UK shares opened on a downbeat note on Tuesday, with a mixed bag of corporate earnings and weakness in the technology sector offsetting reports of activist stake-building. The FTSE 100 index was down ...

  • Direct Line Insurance Group Plc, Britain's largest motor insurer, posted a robust 50 percent jump in first-half profit from continuing operations, beating analysts' expectations. Shares (Berlin: DI6.BE - news) in the FTSE-100 company surged to an all-time high on Tuesday, ranking among the top gainers on the index. Direct …

  • Pre-tax profits rise to £315m at Britain's largest motor insurer after a lack of claims from major weather events

  • Australia's central bank keeps interest rate at 2.0%

    The Reserve Bank of Australia says it will continue to monitor data over the next few months, adding that leaving the cash rate unchanged "was appropriate" for this month

  • UK starts RBS sell-off with $3.3 bln stake sale Reuters - UK Focus - 1 hour 43 minutes ago

    Britain has sold a 2.1 billion pound ($3.3 billion) stake in Royal Bank of Scotland (RBS) to kick off the disposal of its holding seven years after bailing out the bank, sparking a political row that the sale at a loss was being hurried. Finance Minister George Osborne on Tuesday hailed the start of returning RBS to the …

  • (ShareCast News) - The UK government has sold 630m Royal Bank of Scotland shares for £2.08bn, HM Treasury confirmed on Tuesday.

  • Net Asset Value(s) Business Wire - 1 hour 52 minutes ago

    LONDON--(BUSINESSWIRE)-- HARGREAVE HALE AIM VCT2 PLC NAV announcement As at close of business on 31 July 2015, the unaudited Net Asset Value (NAV) for Hargreave Hale AIM VCT2 plc was as follows: NAV per ...

  • Royston Wild examines the earnings prospects over at Banco Santander SA (LON: BNC), easyJet plc (LON: EZJ), CRH PLC (LON: CRH) and Legal & General Group Plc (LON: LGEN).

  • RBS Shares Sold At £1bn Loss After Seven Years Sky News - 2 hours 25 minutes ago
    RBS Shares Sold At £1bn Loss To Taxpayers

    The Government has disposed of roughly 5.4% of its stake in Royal Bank of Scotland (LSE: RBS.L - news) (RBS) for £2.1bn - a loss of around £1bn to taxpayers. The overall size of HM Treasury's economic interest in RBS has been reduced from approximately 78.3% to approximately 72.9%. Monday's sale of 333,000 shares at …

  • Britain begins sale of stake in bailed-out Royal Bank of Scotland

    RBS has since reported losses totalling about £50 billion and has axed more than 30,000 jobs, with thousands more reportedly set to follow

  • UK's sale of RBS shares was 2.4 times covered -source Reuters - UK Focus - 2 hours 47 minutes ago

    The UK government's sale of shares in Royal Bank of Scotland on Monday was 2.4 times covered by potential investors, a person familiar with the matter said. UK Financial Investments, the body that holds ...

  • Government Nets £2.1bn From RBS Share Sale Sky News - 2 hours 56 minutes ago
    RBS Shares Sold At £1bn Loss To Taxpayers

    After seven years the government has begun selling its stake in RBS (LSE: RBS.L - news) . The overall size of HM Treasury's economic interest in RBS will be reduced from approximately 78.3% to approximately 72.9%. George Osborne's argument is that the bank was never bailed out with a view of making a profit but was instead …

  • South Africa's fourth-largest bank Nedbank reported a 14.1 percent increase in first-half profit on Tuesday as growth in fee income helped offset muted growth in lending. Nedbank, majority-owned by Anglo-South ...

  • City Trader Guilty Of Fixing Libor Rate

    A city trader has been sentenced to 14 years in jail for fixing the rates of interest at which banks lend to each other - the so-called Libor rate. Tom Hayes had been accused of eight counts of conspiracy to defraud between 2006 and 2010 for setting the rate on which trillions of dollars of financial deals are based.  …

  • The UK government sold a 2.1 billion pound stake in Royal Bank of Scotland at 330 pence per share, kicking off the disposal of its holding seven years after bailing out the bank. UK Financial Investments, ...

  • New York state's financial watchdog effectively suspended Promontory Financial Group LLC, a prominent consulting firm, from doing regulatory work for banks licensed by the state after finding that it whitewashed reports it gave to authorities. The sanction is a blow to Promontory, a firm that was founded by former regulators …

  • CME agrees to offer derivatives on Russell indexes Reuters - UK Focus - 11 hours ago

    CME Group (Kuala Lumpur: 7018.KL - news) said on Monday it struck an agreement with London Stock Exchange Group to list derivatives contracts based on Russell indexes that are currently listed only on rival Intercontinental Exchange Inc (NYSE: ICE - news) 's market. The licensing agreement is for 12 years and pertains …

  • Osborne Pulls Trigger On £2bn RBS Share Sale

    George Osborne has unveiled plans for a £2bn sale of taxpayers' shareholding in Royal Bank of Scotland (LSE: RBS.L - news) (RBS) in a symbolic moment that will crystallise a substantial loss on the stake. Confirming widespread expectations that he would begin the processing of selling the shares this week, the Treasury …

  • Insurance company Sagicor cut a solitary figure in Latin America's moribund primary market on Monday as it released price thoughts of low 9s on a US$320m seven-year non-call five. The deal from Sagicor, which provides insurance and financial services in the Caribbean and the US, is being marketed to both EM and US high-yield …

  • U.S. factory activity dips; consumer spending cools Reuters - UK Focus - 13 hours ago

    U.S. factory activity slipped in July and consumer spending advanced at its slowest pace in four months in June, indicating the economy lost some momentum recently. "We expect growth momentum to re-accelerate over the next few months, providing the Fed with the necessary confidence they need to raise rates in September," …

  • The following financial services industry appointments were announced on Monday. To inform us of other job changes, email moves@thomsonreuters.com. WILLIS NORTH AMERICA The unit of a unit of insurance ...

  • US stocks drop as oil equities tumble

    At the closing bell, the Dow Jones Industrial Average stood at 17,598.26, down 91.60 points (0.52 percent)

  • Banco Bradesco SA agreed to buy HSBC Holdings Plc's Brazilian unit for a surprisingly high 17.6 billion reais , narrowing the gap with larger rivals while boosting its base of affluent customers in Latin ...

  • U.S. stocks fell on Monday as oil prices touched a six-month low and factory data from China raised concerns about the world's second-biggest economy. Energy stocks were the biggest losers among the main S&P sectors, recording their worst three-day decline in seven months. Oil prices fell on fresh evidence of growing …

  • Oil prices plummet as Opec pumps more oil in July and markets worry about global oversupply

  • Tom Hayes: The 'Rain Man Ringmaster' Of Libor

    In a landmark two month case, Tom Hayes was the first person to stand trial for the criminal fixing of international bank lending rates. He told how he was mocked by brokers who nicknamed him "Tommy Chocolate" for ordering cocoa in the pub while his colleagues downed beers.

  • US consumer spending edges higher in June

    Shoppers walk along Lexington Avenue on April 29, 2015 in New York City

  • British trader jailed for 14 years for rigging Libor rates

    British trader Tom Hayes leaves Southwark Crown Court in London, on July 31, 2015

  • (ShareCast News) - The UK government said it has started the sell off of its 79% stake in Royal Bank of Scotland, with a tranche of 600m shares, or 5.2% being offered to institutional investors at a loss ...

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