News

Government adviser reveals his frustration at talk of bank kindness to zombie businesses

Royal Bank of Scotland is facing an inquiry by banking regulators

RBS ‘drove businesses to collapse before stripping their assets’

Bank faces FCA inquiry over allegations of 'unscrupulous' treatment of small businesses

In brief: Birds Eye owner plans to double business; Latchways results warning; RBS to shed investment banking; Reuters man to chair Investis

Birds Eye owner plans to double size of its business

Iglo Group, whose brands include Birds Eye, has set out plans to double the size of the business to €3.2bn (£2.7bn) by 2020. The chief executive, Elio Leonim Sceti, has put Havas in charge of its marketing strategy. The UK, Italy, Germany and Austria are the group’s largest markets, representing about 85 per cent of turnover.

The Business Matrix: Tuesday 19 November 2013

Mitie profits leap as it dodges cuts

RBS may face huge new bill over loan scandal, UKFI says

Royal Bank of Scotland could face another huge bill as a result of a US mortgage trading scandal, bosses of the government agency charged with overseeing taxpayers' interests in banks warned yesterday.

Market Report: RSA gives second profit warning in a week

The discovery of a black hole in RSA’s Irish accounts sent its shares tumbling yesterday. The insurer suspended three executives at its Irish business late on Friday and warned profits will take a £70m hit this year – its second profit warning in a week.

The failure of the Co-operative Bank was one of over-ambition

Our mutual friends have lost the plot ... let's find out why

We need a full inquiry into the goings-on at the Co-op Bank

Credit rating for RBS falls as 'smallpox' subprime lawsuit costs it $154m

The Royal Bank of Scotland's big plan not to split off its toxic assets into a "bad bank" last night earned it a credit rating downgrade from Standard & Poor's.

Ben Chu: Mark Carney is relaxed about banks' balance sheets – that should worry us

Economic View: The attitude that size doesn't matter as long as there is robust regulation is dangerous folly

Market Report: Chinese recovery helps miners dig in

Signs of a recovering services economy in China and better iron ore prices pushed mining stocks toward the top of the blue chip table yesterday, but even this wasn't enough to dig the Footsie out of a hole. HSBC's Chinese services data suggested the Chinese economy performed well in October while iron ore prices also helped the mood.

EU watchdogs line up hefty fines for RBS over Euribor rate rigging

EU watchdogs are preparing to impose multi-million euro fines on six banks, including Royal Bank of Scotland and HSBC, where traders are suspected of having tried to manipulate Euribor interest rates.

House prices reached new high in August as property market recovery gathers pace

House prices reached a new high in August as the property market recovery gathered pace, official figures have shown.

The Business Matrix: Tuesday 15 October 2013

Christmas to be a cracker for shops 

What the Sunday papers said

The Independent on Sunday: Holiday money firm Travelex set for £1bn  flotation

Travelex, the world’s largest foreign-exchange specialist, is eyeing a float that would see it valued at more than £1bn. The company, owned by private equity firm Apax, is looking to join a number of major names planning to float on the London Stock Exchange, such as Merlin, the owner of the London Eye. It comes a number of months after a potential buyer for Travelex, believed to be from Asia, approached Apax.

The Business Matrix: Monday 14 October 2013

UK savings scheme ‘is not fit for purpose’

A 2 bedroom flat for sale on Oxford Road, Cowley, Oxford. On with Oxford Apartments for £245,000.

House sales at four year high

Surveyors expect the number of transactions and house prices to continue rising

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Eurovision 2015: Australians will be cheering on their first-ever entrant this Saturday

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Paul Scholes column: Does David De Gea really want to leave Manchester United to fight it out for the No 1 spot at Real Madrid?

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