Nov 3rd, 2009 - guardian.co.uk
Royal Bank of Scotland's shares down almost 20% in two days; Lloyds's shares an oasis of tranquillity. Those market reactions tell the story of the banking bailout part 3, or part 2(b) as the government would probably prefer. Lloyds has performed a great escape, but RBS has been clobbered.
Praise for Eric Daniels, Lloyds's chief executive, should be tempered, of course. He led Lloyds TSB into the takeover of HBOS, a deal that still looks utterly horrible and led to today's £21bn capital-raising, including a £13.5bn rights issue, the largest ever. That's one hell of a blemish for a chief executive to carry. Daniels is lucky to have his shot at redemption.
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Nov 4th, 2009 - Wall Street Journal
Headhunters have received CVs and phone calls from scores of disaffected staff in Royal Bank of Scotland's (RBS) global banking and markets division, following the bank's...
GLOBAL MARKETS-Bank troubles hit world stocks, dollar up
Nov 3rd, 2009 - Forbes
NEW YORK, Nov 3 (Reuters) - Investors scrambled for safety on Tuesday, driving world stocks lower and propelling bids for government bonds and the dollar on poor results from UBS and a shake-up of UK banks Lloyds and Royal Bank of Scotland.
Union fears for 25000 jobs as EU insists Lloyds and RBS must shed branches
Nov 3rd, 2009 - guardian.co.uk
More than 900 branches, representing 10% of the high street banking network, are to be put up for sale in the next four years under a radical restructuring demanded by...Lloyds and RBS unveil fundraising moves
Nov 3rd, 2009 - CNN
London, England -- Lloyds Banking Group and Royal Bank of Scotland on Tuesday announced that they were raising £54.5 billion ($88 billion) in moves agreed with the UK government and the European Commission.
After months of speculation...RBS and Lloyds aim for £54bn funding
Nov 2nd, 2009 - FT
Lloyds Banking Group and Royal Bank of Scotland, Britain’s part-nationalised banks, will outline moves to raise a combined £54bn in fresh funding on Tuesday, in a startling reshaping of Britain’s finance industry. Alistair Darling...
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