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RBS vs. ETF Alternatives
Company Description
Currently, there's no company description for RBS.
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- | Earnings
- | Dividends
- | M&A
- | On the move
- Thursday, September 13, 2012, 5:08 AM RBS, Commerzbank and Standard Bank are suing Dubai Group for the immediate repayment of loans after withdrawing from talks to restructure the holding company's $10B debt three months ago. It's an unusual move given that banks tend to take the best terms they can get with the emirate, especially as the group is owned by Dubai ruler Sheikh Mohammed bin Rashid al Maktoum. 1 Comment [Financials]
- Wednesday, September 12, 2012, 3:57 AM The EU is due to unveil today proposals to turn the ECB into the eurozone's banking supervisor by 2014 in what would be the first step towards a full banking union. The ECB would begin overseeing the bloc's largest banks from July 2013 and smaller institutions six months later, although national authorities would retain control of daily supervision. 1 Comment [Global & FX, Top Stories, Financials]
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Tuesday, September 11, 2012, 9:10 AM
Premarket gainers: WSB +91%. SNSS +48%. CTIC +15%. NOK +7%. CRTX +7%. RBS +6%. PSTI +5%.
Losers: NAVB -31%. PPO -12%. PANW -8%. SQNM -7%. PPHM -6%. Comment! [On the Move] - Tuesday, September 11, 2012, 4:20 AM Moody's remains negative on U.K. banks, due to the travails of the British and eurozone economies. The agency says the likes of RBS (RBS), Lloyds (LYG) and Barclays (BCS) could also be hit by high regulatory costs following various scandals and write-downs on their exposure to foreign real estate. (PR) Comment! [Financials]
- Sunday, September 9, 2012, 4:34 AM RBS is in talks with the U.K.'s Financial Services Authority to settle allegations about its involvement in the Libor scandal, Bloomberg reported yesterday. The bank will probably have to pay more than the £290M that Barclays agreed to pay for its role. UBS is also in negotiations with authorities in the U.S. and U.K. over resolving Libor allegations. 1 Comment [Tech, Consumer]
- Friday, September 7, 2012, 6:12 PM D.R. Horton (DHI) enters into a five-year $125M senior unsecured revolving credit facility with The Royal Bank of Scotland (RBS), with an additional uncommitted $375M accordion feature which could increase the facility to $500M, subject to certain conditions and availability of additional bank commitments. Shares -0.6% AH. Comment!
- Monday, September 3, 2012, 5:19 AM RBS's (RBS -0.8% in London) Direct Line Insurance unit intends to cut jobs as part of a plan to save £100M/year by the end of 2014, although the firm didn't specify how many positions would go. The news comes as RBS looks to float Direct Line later this year. The insurer's H1 operating profit rose 7% to £224.2M. Comment! [Financials, Earnings]
- Monday, September 3, 2012, 4:09 AM A group of RBS (RBS) shareholders plan to launch a £3.3B lawsuit against the bank, ex-CEO Fred Goodwin, and other former execs, the Times reports. The group allege that RBS misled investors about its frailty at the time of a £12B rights issue in 2008, since when shares have plummeted. The group is backed by 91 institutional investors, including HSBC (HBC) and Deutsche Bank (DB), but needs to secure £12M-£15M in case of defeat. Comment! [Top Stories, Financials]
- Monday, August 27, 2012, 3:07 AM The lawsuits against banks over their alleged manipulation of the Libor and other rates are accumulating, with Charles Schwab (SCHW), cities, insurers,lenders and individual investors assessing or activating their legal options. BlackRock (BLK), Federated Investors (FII) and Calpers are among those calculating whether they lost money. Estimates for banks' liabilities range from $7.8B-$176B. 2 Comments [Financials]
- Wednesday, August 22, 2012, 3:22 AM If there's a banking scandal, RBS (RBS) often is involved, and sure enough the Fed and DOJ are investigating the bank for violations of sanctions against Iran, the FT reports. Two years ago, the bank agreed to pay $500M in fines for Dutch unit ABN Amro breaching embargoes against Libya, Sudan and Cuba, as well as Iran. Comment! [Financials]
- Wednesday, August 15, 2012, 3:18 PM More on the Libor probe: Receiving subpoenas in recent weeks along with JPMorgan and Barclays are DB, RBS, and HBC. Citigroup (C) and UBS received subpoenas earlier this year. Comment! [Financials]
- Monday, August 13, 2012, 7:26 AM RBS CEO Stephen Hester is getting the backing of some major Barclays (BCS) shareholders for the top job there, reports The Telegraph. Hester is seen having done a good job at RBS, cutting non-core assets, reducing bad debts, and maybe most importantly, having a good relationship with regulators (the bank is over 80% state-owned). Comment! [Financials]
- Monday, August 6, 2012, 4:36 PM RBS' fast pace of non-core asset sales is set to slow down as the most-desirable ones have been sold. The prices needed to move what's left off the books will be so low as to force capital-destroying marks. Adding to the problem are other EU banks shedding assets at the same time. The winners: PE firms, U.S. banks, hedge funds. Comment! [Financials]
- Friday, August 3, 2012, 7:43 AM RBS - continuing to lose money, beset by the Libor scandal, and with the government threatening nationalization - may have to unload its U.S. commercial banking operation (Citizen's Bank), reports the NYPost. TD Bank (TD) was among the interested parties, but the two were far apart in price, say sources, and talks are not currently active. Comment! [Financials, M&A]
- Friday, August 3, 2012, 3:50 AM Royal Bank of Scotland Group (RBS): Q2 net loss £466M vs. £897M a year earlier. Operating profit -22% to £650M, in line. Sets aside £310M to settle claims over mis-selling of payment protection insurance, for costs from its IT systems failure in June, and for mis-selling of interest rate swaps. Can't yet say how much it might have to pay over the Libor scandal. Shares +4.2% in London. (PR) Comment! [Earnings, Financials]
- Thursday, August 2, 2012, 2:56 PM If the U.K. government - contemplating the full nationalization of RBS in order to get it to lend more - thinks shoveling out below market-rate credit to citizens who probably don't qualify, the U.S. has a Fannie and Freddie to sell it, writes Sober Look. Surely, the government can think of other ways to stimulate the economy. 2 Comments [Financials]
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David White
RBS results were worse than expected at -1.1B GBPs. Irish loan losses and worse than expected investment banking performance were cited. - View all 0 replies
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Asif Suria
$RBS is launching a $7.24 billion issue of securities in its first securitization deal since the financial crisis began - View all 0 replies
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