Scotsman.com - Banking Feed

Comment: Plasters won’t be enough to heal Co-op

Sat, 25 May 2013 17:36:29 GMT

THE Co-operative may claim to be good with food, but it’s not proving to be so good with money.

George Kerevan: More bank woes and questions

Fri, 24 May 2013 18:52:46 GMT

Spare a thought for Ed Miliband. Earlier this month the Labour leader gave a keynote speech on banking reform at the Co-op Bank’s headquarters.

Business briefs: NTS | Toby Strauss | Robertson

Fri, 24 May 2013 18:50:14 GMT

THE National Trust for Scotland (NTS) and Berkeley Insurance Group have formed a partnership under a new division, Berkeley Heritage.

HSBC’s Flint apology over money laundering scandal

Fri, 24 May 2013 18:36:27 GMT

HSBC chairman Douglas Flint publicly apologised to shareholders yesterday for the bank’s failings after it was fined £1.3 billion in December following a probe into its Mexican and stateside operations.

Co-op pulls business loans amid concern over capital

Fri, 24 May 2013 13:17:32 GMT

THE Co-operative Bank has stopped offering loans to new business customers, part of measures designed to quell growing concerns over its capital position.

3i to boost fee income after Barclays fund deal

Fri, 24 May 2013 07:43:56 GMT

PRIVATE equity group 3i is to take over the European infrastructure fund management business of Barclays bank to boost its fee income from public-private partnerships and energy investment projects.

New bank Aldermore offers mortgages in Scotland

Thu, 23 May 2013 18:29:21 GMT

CHALLENGER bank Aldermore is to offer mortgages to Scottish customers next month as the housing market shows signs of “renewed confidence”.

JP Morgan Chase receives £3m fine for poor records

Thu, 23 May 2013 18:26:18 GMT

BRITAIN’S new financial regulator has slapped a £3.08 million fine on a wealth management unit of American banking giant JP Morgan Chase for not having records to show it was giving clients good advice.

Lloyds raises £450m by selling down St James’s Place stake

Thu, 23 May 2013 08:01:34 GMT

Taxpayer-backed lender Lloyds Banking Group has raised about £450 million by selling a further stake in wealth manager St James’s Place.

First-time buyers lift Nationwide

Wed, 22 May 2013 17:27:49 GMT

Nationwide has grabbed a record share of the mortgage market after seeing a big rise in the number of first-time buyers joining the property ladder.

IMF calls for swift Lloyds and RBS sale

Wed, 22 May 2013 07:36:38 GMT

THE Treasury edged closer to an exit from Lloyds Banking Group and Royal Bank of Scotland today after the International Monetary Fund (IMF) called for a swift sale of its stakes and Britain’s new banking watchdog backed plans to shore up the pair’s capital buffers.

Jamie Dimon survives JP Morgan vote

Tue, 21 May 2013 18:11:18 GMT

JP MORGAN chairman and chief executive Jamie Dimon yesterday survived a vote by shareholders to split his role in two.

Royal Londoners vote on £219m Co-op deal

Tue, 21 May 2013 17:44:44 GMT

VOTING among over 500,000 members of Royal London is under way on its £219 million deal to acquire parts of the  Co-operative Banking Group.

Paul Tucker: Bank bailout law needs wider backing

Mon, 20 May 2013 18:56:46 GMT

PROPOSALS for a European Union (EU) law to protect taxpayers from having to bail out troubled banks would need global support to work effectively, Bank of England deputy governor Paul Tucker has warned.

Jamie Dimon faces split vote on JP Morgan roles

Mon, 20 May 2013 18:35:14 GMT

JP MORGAN chief executive Jamie Dimon faces a key test today as the bank’s shareholders vote on splitting his role in two.

Bill Jamieson: Banks: emerging from the bottom drawer

Sun, 19 May 2013 19:57:48 GMT

It’s bottom-drawer rummage time again. Remember those bank shares that made you wince every time you checked them? The ones with 90 per cent falls that dragged down your investment performance, that paid no dividends and were useful only to mitigate capital gains tax liability?

Headhunters seek new finance chief for Standard Life

Sat, 18 May 2013 17:42:51 GMT

STANDARD Life has appointed international recruitment specialist JCA Group to search for a chief financial officer following the departure last month of Jackie Hunt.

Treasury back in the black with its Lloyds stake

Fri, 17 May 2013 17:43:34 GMT

Shares in state-backed Lloyds Banking Group yesterday climbed above the UK government’s break-even price, raising the prospect of a taxpayer share sale either later this year or in 2014.

New Co-op boss Sutherland on the block over bank crisis

Fri, 17 May 2013 17:43:21 GMT

Concerns over the future of the Co-operative Group’s banking business sparked by the collapse of a deal to take over 600-plus Lloyds branches will cast a long shadow over the mutual’s AGM today.

Prudential fights off shareholder rebellion on pay

Thu, 16 May 2013 18:55:24 GMT

INSURANCE giant Prudential defused a shareholder rebellion on pay at yesterday’s annual general meeting, but directors had to suffer being accused of corporate greed from the floor.