Royal Bank Of Scotland Share Discussion Threads

[leedskier] 07/3/2018 08:17

Now down just 16 points.

[leedskier] 07/3/2018 08:01

FTSE100 down 35 points.

[raffles the gentleman thug] 07/3/2018 07:41

Obviously the overnight news wasn't worthy of an RNS from the company. With tax deductibility the New York settlement is worth no more than 3p off tangible book value, and more than compensated for by first quarter earnings. So I'm inclined to view it positively in being another hurdle put if the way.... now for the big one ...

[leedskier] 07/3/2018 05:27

There could be MORE pain today too.

... the revolving door at the White House gets into overdrive, this time it is not a press secretary but Trump's Economic Advisor ...

From this morning's Guardian


Gary Cohn, Donald Trump’s top economic adviser, has quit, the latest in a series of high-profile departures from the Trump administration.

Cohn, who heads the National Economic Council, had reportedly threatened to leave after Trump’s incendiary comments following the deadly race riot in Charlottesville, Virginia.

But his decision to quit on Tuesday night comes after Trump’s decision to impose tariffs on steel and aluminum imports, a move he and the treasury secretary, Steven Mnuchin, have reportedly vehemently opposed.

Futures trading pointed to a sharp 1.3% drop in shares on Wall Street when business starts again on Wednesday morning and investors take in the departure of the pro-free trade adviser.

The dollar dropped 0.6% against the yen in the Asian markets session but recovered the lost ground as the day progressed.

Shares in Asia Pacific also dipped at the opening of trade on Wednesday. In Japan, where the steel industry could be badly hit by tariffs, the Nikkei was off 0.7% but also clawed back losses to sit 0.2% down at midday. In Sydney the ASX200 benchmark was down 0.8%.

[raffles the gentleman thug] 07/3/2018 05:25

That's California and New York State attorneys dealt with now which are the two largest ones gone

[leedskier] 07/3/2018 05:16

We are barely into March and the gap widens even further ...

[smurfy2001] 06/3/2018 22:44

I agree!

---

Ian Gordon, an analyst at Investec, said the deal with New York was “a disturbingly large single-state settlement ahead of the main event”.

[smurfy2001] 06/3/2018 22:28

Terrible news eye watering figures... I thought it was only the DoJ left over so far worse to come :(

[polar fox] 06/3/2018 21:32

SKY:

Royal Bank of Scotland (RBS) has agreed a $500m (£360m) settlement with New York state over historic mis-selling claims.

The announcement, by New York Attorney General Eric Schneiderman, was made ahead of what is expected to be a much larger deal with the US Department of Justice (DoJ).

Sources told Sky News last Friday that the state-backed lender was "within weeks" of agreeing a multi-billion dollar sum with federal officials, in a settlement that would pave the way for the sale of the taxpayers' majority stake to resume.

The penalties relate to the sale of retail mortgage-backed securities (RMBS) ahead of the 2008 financial crisis.

Mr Schneiderman said RBS admitted to having sold investors RMBS that did not meet underwriting guidelines, contrary to its representations, and did not comply with applicable laws and regulations.

He said the settlement involved a $100m cash payment to the state, plus $400m for consumer relief for homeowners and communities.

unquote

[gcom2] 06/3/2018 20:22

i thought that at 30.4p. now i'm adding.

[smurfy2001] 06/3/2018 15:45

Not sure l want to add. I'm concerned how much it will get hammered when the fine is eventually announced, i'd prefer it lower before l add again.

[gcom2] 06/3/2018 09:51

added a few more. there's a nice trendline if you draw a line from the three 2017 lows

[leedskier] 06/3/2018 09:36

The Ft is pretty scathing about the FTSE100 today.

[leedskier] 06/3/2018 06:32

David Buik
‏
@truemagic68

CORE SPREADS - European opening calls looks likely to feed off positive sessions on Wall Street & Asia - FTSE 100 +30 at 7145, DAX +92 at 12181, CAC +27 at 5194 - DOW futures +32 at 24907

[maxk] 05/3/2018 17:59

It's imaginary money anyway, created out of nowhere. Does it really matter when they "pay it back"?

[polar fox] 05/3/2018 17:26

May the Force be with you.

[smurfy2001] 05/3/2018 17:06

It wasn't even a profit making bank then the gov would make a horrific loss that wouldn't be in the tax payers interest hence why l reckon it will be at much higher prices.

[polar fox] 05/3/2018 16:52

I disagree - given the numbers, if you sold at 330p in 2015, and then choose to sell around 300p in 18/19, who the hell is going to give a damn, financially speaking? Who batted an eyelid in 2015? The breakeven consideration hardly comes into it, IMO - stop kidding yourself.

[smurfy2001] 05/3/2018 16:43

That's 200p below break even the government would not do it.

[gcom2] 05/3/2018 16:15

the fine is not new news. its been known for many,many years with RBS share price between 158p and 480p