Royal Bank Of Scotland Share Discussion Threads

[maxk] 20/3/2017 11:55

Theresa May has informed EU President Donald Tusk she will trigger Article 50 on March 29.

[avatar333] 20/3/2017 09:12

Morning.

;

[maxk] 20/3/2017 09:05

More than likely.

Who is paying him/her? And why bother with a (very) part time mp?

[leedskier] 20/3/2017 08:55

Probably the same person who looked after them when he was Chancellor for 11 years.

[maxk] 20/3/2017 08:42

There is no restriction that I am aware of.

However, a minister will have someone looking after his constituency business...who is taking care of Georges? Cos he wont have time.

[leedskier] 20/3/2017 08:20

Since when has there been a restriction on backbench MPs taking jobs?

add

Government ministers combine a full time portfolio with being an MP.

Is it being suggested that being the editor of the Standard will be more demanding than being Chancellor?

[leedskier] 20/3/2017 08:07

7,403.20 -21.76 (-0.29%)

[maxk] 20/3/2017 07:51

Not sure how Gorgeous George is going wiggle out of this...

[leedskier] 20/3/2017 07:15

Tomorrow the monthly UK inflation data is posted.

[leedskier] 20/3/2017 07:02

Deutsche Bank AG said it will raise 8 billion euros ($8.6 billion) from a capital increase starting this week as the lender seeks to shore up its finances and boost growth. Bloomberg's Sue Keenan reports on "Bloomberg Markets." (Source: Bloomberg)

[leedskier] 20/3/2017 06:59

* RBS: Lawyers representing tens of thousands of Royal Bank of Scotland
(RBS) shareholders have held tentative talks to settle a 1.2 billion
pound damages claim over the lender's 2008 rights issue that was launched
shortly before a state bailout, two sources said.

[leedskier] 20/3/2017 06:29

(RTTNews.com) - Unilever plc is preparing to sell some of its food brands in a 6 billion pounds or $7.4 billion deal, partly in response to the recently rejected takeover offer from Kraft Heinz, British media reported.

The Anglo-Dutch consumer goods company plans to sell Stork butter and Flora margarine brands, The Sunday Times reported.

Further, The Sunday Telegraph, citing sources, said that private equity firms Bain Capital, CVC, and Clayton Dubilier and Rice have started working on offers for Unilever's non-core margarine division. Kraft Heinz, which is backed by billionaire Warren Buffett and Brazil's 3G Capital, is also tipped as a possible buyer.

To boost the shareholder support, Unilever in late February had that it is conducting a comprehensive review of options available to accelerate delivery of value for the benefit of shareholders. The company then said, "The events of the last week have highlighted the need to capture more quickly the value we see in Unilever. We expect the review to be completed by early April, after which we will communicate further."

It was in mid-February that Kraft Heinz said it amicably agreed to withdraw its proposal for a combination of the two companies. Unilever rejected the offer, noting that it fundamentally undervalues the firm.

As per Kraft Heinz's proposal, Unilever common shareholders were to receive $50 per share in a mix of $30.23 per share in cash payable in U.S. dollars and 0.222 new enlarged entity shares per existing Unilever share. The potential offer represented a premium of 18 percent as at the close of business on February 16.

[leedskier] 20/3/2017 06:00

David Buik‏
@truemagic68


After positive gains last week European markets expect a reflective opening - FTSE +6, DAX -13. CAC -6 courtesy of IG

[maxk] 19/3/2017 08:06

Theresa May to unveil plans for converting EU law via 'Henry VIII clauses' later this month





By Ben Riley-Smith, Assistant Political Editor
18 March 2017 • 10:00pm




Detailed plans for restoring the UK Parliament’s sovereignty after Brexit are to be published within days, the Telegraph understands.

Proposals for converting EU law into UK law and repealing the legislation that took Britain into the bloc will be published when Brexit is triggered.

A small number of drafts of the White Paper - which is said to be around 50 page long - have been circling Whitehall in recent weeks.

Government sources said the document will be published when Theresa May formally triggers Article 50 by the end of this month. Whitehall figures believe the date will be March 29.

Proposals will reveal full details for how the Government will end the rule of European law by introducing legislation dubbed the “Great Repeal Bill”.




More:

[leedskier] 19/3/2017 07:22

Chuck Berry was one of that rare breed who became a legend in his own life time. RIP

[chinese investor] 18/3/2017 12:47

Thank You Trevor Hemmings !

[chinese investor] 17/3/2017 20:33

Lawyers representing tens of thousands of Royal Bank of Scotland shareholders have held tentative talks to settle a 1.2 billion pound damages claim over the lender's 2008 rights issue that was launched shortly before a state bailout, two sources said.

The two sources, who are familiar with the situation, said RBS and the RBoS Shareholder Action group, which includes 27,000 private investors, former and current RBS staff and about 100 institutions, had discussed an out-of-court deal.

But in a move highlighting the difficulties of rallying such a vast group -- the last of five shareholder claims yet to settle with the bank -- one source warned that some retail investors were determined to take the case to trial in May.

A settlement would end one of the most complex and costly litigation battles in English legal history.

It would also spare RBS, which is still more than 70 percent owned by the state, a lengthy and potentially embarrassing court case that would put its disgraced former chief executive Fred Goodwin and other former senior staff in the witness box.


Last week, High Court Judge Robert Hildyard also warned claimants against the "serious consequences" of a funding gap or shortfall. He was also "increasingly troubled" by inconsistent statements about ATE cover and other statements by the group.


RBS has estimated its legal costs, from the December settlements to the end of the May trial, at 25 million pounds.

Shareholders lost around 80 percent of their investments when RBS collapsed just months after the 2008 cash call, forcing the government to step in with a 45 billion pound-plus bailout.

Former RBS chief executive Goodwin was stripped of his knighthood but kept an annual pension of 342,500 pounds.

[chinese investor] 17/3/2017 20:15

Royal Bank of Scotland (RBS) has accelerated talks about a legal settlement with thousands of former investors, weeks before a trial that would see former chief executive Fred Goodwin called to give evidence.

Sky News has learnt that RBS's lawyers have been in negotiations with the RBoS Shareholder Action Group during the last 48 hours in a bid to resolve the final remaining claim relating to a £12bn cash call in 2008.

Talks were understood to be continuing on Friday, although one source put the chances of a successful resolution before a trial at "no better than 50-50".

The terms of any agreement between the two sides were unclear on Friday, although sources said they were unlikely to see any improvement in RBS's existing offer, which would see only a fraction of the group's £1.2bn claim paid out in settlement.

A number of institutional investors participating in the RBoS Shareholder Action Group are nevertheless said to be keen to pursue a settlement, and have made their views clear to Signature Litigation, the law firm handling the case.

Prominent investors including Aberdeen Asset Management and AXA are members of the group, which in total has signed up 27,000 former RBS shareholders as participants.

Most of them were ordinary retail investors who lost money after subscribing to the bank's £12bn rights issue in the spring of 2008.

[smurfy2001] 17/3/2017 17:28

Settlement this year would be good let's hope it's not above what they have provisioned.

[gcom2] 17/3/2017 17:21

"returns above the cost of equity " ???

[polar fox] 17/3/2017 14:41

It's all happening! This from Sky:

Royal Bank of Scotland (RBS) has accelerated talks about a legal settlement with thousands of former investors, weeks before a trial that would see former chief executive Fred Goodwin called to give evidence.

[polar fox] 17/3/2017 13:56

Nothing scheduled at the Senate today for Rosenstein and Brand. Considering all the moaning from Trump/Sessions and Co. about the alleged tardiness of nominee confirmations, you would think the Republicans would show a little more urgency. Obviously not. I'll continue to monitor.

[polar fox] 17/3/2017 13:45

I've been out all morning, but I see that today's rise is being put down to an upgrade to 'buy' from Natixis:

Natixis upgraded its stance on Royal Bank of Scotland to 'buy' from 'reduce' as it lifted its price target by 29% to 289p, saying the investment thesis is reaching a turning point.
The French investment bank said the time is near when the long-standing strengths of the core bank will outweigh the material drag of legacy items. It pointed out that management, which has built a reputation for realism, foresees a statutory profit in 2018 after 10 years in a row of losses.
Natixis said fears over the impact of Brexit on what is increasingly a UK-focused business have not materialised yet and its central case is now for a less severe economic slowdown.
"Relative to other UK banks the RBS investment case includes more upside from self-help factors (cost reduction, above average growth in core markets) and the cessation of historic problems (litigation, de-risking)."
While Natixis sees limited excess capital in the balance sheet currently, it expects the emergency of a highly capital generative bank following the restructuring.
"Our valuation is based predominantly upon intrinsic profitability and future organic capital generation.
"We assume that dividend payments will resume in 2018 following resolution of US litigation and expect that the ability to generate returns above the cost of equity will support attractive yield characteristics for the shares."

Unquote