RBS Next to be Fined in LIBOR-Rigging Scheme
The inquiry into a LIBOR-rigging scheme looks set to claim another quarry as RBS will reportedly be fined about 150 million pounds.
Barclays’ Diamond Deserves No Bonus: Shareholder Group
Bob Diamond, the chief executive of Barclays, should not receive a bonus, and perhaps instead should be considered for a pay clawback, according to a shareholder advisory group.
RBS Talks Sale With Abu Dhabi Royals
The Abu Dhabi ruling family is in talks to purchase a stake in the government-owned Royal Bank of Scotland, according to sources close to both sides of the potential deal.
Greek Debt Crisis Weighs on Banks
Europe’s banks are tallying up the losses from Greek sovereign debt, and the picture is not a pretty one. Euro losses in the billions are taking a toll on earnings and banks are posting heavy hits in the midst of a need to find additional capital to meet new banking...
Hungary Fails to Reach Bond Auction Target
Hungary’s financial situation has been steadily worsening, and after its Thursday bond auction failed to raise as much money as it had hoped, it now says it wants a fast deal with the European Union and the International Monetary Fund.
Will European Banks Be Forced to Unload U.S. Assets?
The report's authors cite Dutch banking giant ING Groep’s pending sale of its U.S. banking franchise ING Direct to McLean, Va.-based Capital One Financial Corp as a paradigm for such asset sales, since European regulators forced ING to restructure.
Moody's Downgrades British Banks
Moody's on Friday downgraded a dozen U.K. banks, including Lloyds TSB Bank, a unit of Lloyds Banking Group, and Royal Bank of Scotland, saying that there was increasing likelihood that smaller banks would be allowed to fail if troubles worsened.
U.S., Euro Stocks Crumble on Fears of New Crisis
Fears in Europe that contagion won't spare Italy and Spain were unassuaged by Europe's central bank on Thursday, sending stocks and bonds plunging. Meanwhile, investors' flight to safety had a perverse effect in the U.S., where the Bank of New York announced it would charge depositors to hold their money.