- Rennie urges clarity on monarchy
- SNP in call over CAP negotiations
- Salmond insists on no-strings poll
- Staff to protest over DVLA closures
- Councillors to launch new party
- Children's tsar backs uniform calls
- Police arrest two after house siege
- Man dies following car collision
- Rapist linked to Jodi Jones murder
- Free swimming lessons announced
- Holden cheered on return to BGT
- Two arrested at football match
- Tenement building fire 'suspicious'
- Man held in Poland in murder probe
- Man held after restaurant stand-off
- Private property value rises £149bn
- Footballer bailed over sectarianism
- Girl's cheekbone broken for phone
- Two men bailed over ear attack
- NHS buildings need £1bn of repairs
Banking
-
George Kerevan: Is a £1 bonus for every £2 earned a good deal?
-
Martin Flanagan: Why Planet Normal must rein in the rhetoric
-
Martin Flanagan: NAB moves to appease investors Down under
-
George Kerevan: Stephen Hester bonus protest political, not economic
-
Terry Murden: Dubious morality behind burning Goodwin at the stake
Clydesdale to get tough on lending after review by Australian owner
CLYDESDALE Bank will take a tougher approach to lending in struggling sectors such as commercial property and hospitality as it undergoes a root and branch review by its Australian parent.
2 comments
Terry Murden: Money talks for government when it comes to bank bonuses
AFTER the public vitriol of recent weeks it looks as though a truce of sorts is being called between Westminster and the banking sector. Prime Minister David Cameron appears to have acknowledged that only so much punishment can be handed out before rebuke turns to permanent damage.
Barclays cuts bonus pool but investors say it’s too little too late
BARCLAYS yesterday slashed its investment banking bonus pool by nearly a third as profits fell, but the group was slammed by one of Britain’s most powerful investor bodies for not going far enough.
RBS equities arm begins wind–down
Royal Bank of Scotland has begun to wind down some parts of its equities operations as part of a broader cut-back of its investment banking division.
RBS in the dock over failure to hit Merlin’s business lending targets
ROYAL Bank of Scotland has been blamed for British banks failing to meet stringent UK government targets on lending to small firms.
Barclays slashes 2011 bonus pool as profits fall by 3%
Banking giant Barclays slashed the bonus pool for its investment banking arm by 32 per cent in 2011 to £1.5 billion amid mounting pressure over the controversial payouts.
2 comments
Scottish Business Briefing – Friday 10 February, 2012
WELCOME to scotsman.com’s Scottish Business Briefing. Every morning we bring you a comprehensive round-up of all news affecting business in Scotland today.
Bank of England pumps in extra £50bn but QE failing small firms say critics
CONCERNS were raised yesterday that companies are failing to see much benefit from an easing in credit conditions after the Bank of England voted to inject a further £50 billion into the financial system.
1 comment
Benny Higgins: Tesco mortgages will be on shelves in ‘a couple of months’
BENNY Higgins, the chief executive of Tesco Bank, yesterday outlined key planks of the bank’s strategy as it prepares to launch its long-awaited move into mortgages.
1 commentTriodos opts for Edinburgh as loans surge
DUTCH bank Triodos will today unveil a 36 per cent increase in the value of its UK loan book to £424 million after choosing Edinburgh as the location for its first high street branch.
Santander raids rivals as it beefs up Scots team
SANTANDER has raided rival Lloyds Banking Group as it looks to beef up its Scottish presence.
Strategic review of Clydesdale fuels concerns of NAB pull-out
Clydesdale Bank is set to be “reshaped” ahead of a possible sale after economic conditions in the UK deteriorated in the final three months of 2011.
4 commentsTesco faces up to tough times on banking front
TROUBLED Tesco Bank will update the market later this week on the progress of its latest experiment into in-store banking following disappointing results from its pilot branches.
Scottish Business Briefing – Monday 6 February, 2012
WELCOME to scotsman.com’s Scottish Business Briefing. Every morning we bring you a comprehensive round-up of all news affecting business in Scotland today.
Opt-out may not protect financial firms from an EU transaction tax
BRITAIN’S financial services firms could pay up to 60 per cent of the proposed European transaction tax even if the UK opts out, a report will warn today.
Sainsbury’s moves home insurance
SAINSBURY’S financial services arm has dropped Halifax as its home insurance underwriter and moved to Royal Bank of Scotland following a competitive tender process.
Moreland signs deal with British Franchise Association
MORELAND Insurance, one of Scotland’s biggest brokers, has signed a strategic partnership with the British Franchise Association.
Barclays set to cut staff’s pay
BARCLAYS Bank is expected to curtail its bonus payouts and cut staff salaries after being stung by investor pressure led by the Association of British Insurers (ABI).
Terry Murden: Anti-business attitude will only harm our economy
IT HAS been a bad week for business, or at least attitudes towards business. The political elite, spurred on by the burn-the-bankers mob, is now hell-bent on punishing anyone who is rich or, worse, a rich failure.
5 commentsOne in 10 new Scots firms hit £100,000 turnover
ALMOST one in ten Scottish businesses set up in the past three years is already turning over in excess of £100,000, research published today reveals.
Funding boost for Aircraft Medical
A MEDICAL device maker with a raft of distribution deals across America, China and the Far East has become the latest Scottish firm to secure a little-known form of funding to fuel its international expansion.
Bragging rights turn to red faces at bonus bonanza
IT USED to be that the banking bonus season was when senior executives in the industry earned bragging rights, but this is no more.
2 comments
RBS facing investigation over ‘manipulation’ of lending rates
ROYAL Bank of Scotland is among a dozen US, European and Japanese banks being investigated by Swiss regulators over suspicions they conspired to manipulate interbank lending rates used to set interest rates on hundreds of trillions of dollars of securities.
1 comment
George Kerevan: Paying for superstars, but are they that good?
WHY do bankers earn so much? If there’s a reason other than pure greed, then Royal Bank of Scotland chairman Sir Philip Hampton is whistling in the wind when he says bankers’ pay has been “high for too long” and needs “corrected”.
1 comment
Antonio Horta-Osorio pledges to retain same number of Lloyds branches
LLOYDS Banking Group yesterday pledged not to reduce its branch network for three years following a moratorium on closures last year.
1 commentBarclays taps into intelligence
Barclays Wealth has bolstered its ranks in Glasgow with three appointments including the hiring of an ex-RAF intelligence officer.
Standard Life wins £100m case
Standard Life has won a legal dispute against a group of insurers who refused to pay out on a £100 million claim.
Tate’s departure marks end of the Eric Daniels ‘old guard’ at Lloyds
THE last of the old guard who worked for former Lloyds’ boss Eric Daniels is quitting this month as part of a wider management shake‑up unveiled yesterday to ease pressures on his successor at the helm, Antonio Horta-Osorio.
RBS offloads Hoare Govett to Jefferies
ROYAL Bank of Scotland yesterday confirmed the sale of its Hoare Govett stockbroking arm to US investment bank Jefferies.
Lloyds won’t reduce branch numbers
Banking group Lloyds pledged today not to reduce its branch network for three years following a moratorium on closures last year.
Havelock seals major Lloyds deal
SHOPFITTING firm Havelock Europa yesterday revealed it had won a major contract with Lloyds Banking Group and was on the verge of signing a deal with high street retailer Boots.
Business news in brief: Rogue City financier hit with record fine
BRITAIN’S financial regulator has slapped a record fine on City financier Ravi Sinha for an invoicing scam when he was in charge of the European operations of US buyout giant JC Flowers.
All quiet on float front as Santander slumps 40%
BANKING group Santander unveiled a 40 per cent slide in annual UK profits yesterday in what it branded a “tough” trading climate.
Uncertainty clouds unveiling of Lloyds chief’s ‘simplified’ working
LLOYDS is expected to unveil the simplified working arrangements for its chief executive as early as today or tomorrow despite continued uncertainty over when finance director-designate George Culmer will be able to take up his position with the bank.
RBS closes in on deal for disposal of Hoare Govett
ROYAL Bank of Scotland is close to striking a deal with US investment bank Jefferies to offload its Hoare Govett stockbroking arm for a token sum.
4 commentsBank adds weight to entrepreneur drive
LLOYDS Banking Group has joined forces with the School for Social Entrepreneurs, which has a branch in Fife, to increase the number of community-focused businesses.
4 commentsRegus set to appeal after loss in court
OFFICE space supplier Regus has lost its legal battle against Lloyds Banking Group over fit-out costs at the Maxim office park complex, off the M8 motorway.
Bill Jamieson: Shouting may be over, but a reputation may be lost
ANOTHER goading of public ire over bank bonuses at Royal Bank of Scotland; another huge political storm; and now, last night, after Labour threatened to bring the issue to a vote in the Commons, a capitulation by chief executive Stephen Hester. It has come too late to avoid serious questions about his judgment.
6 commentsScott Reid: Stephen Hester is worth his pay – if only the public were able to see it
STEPHEN Hester has become a convenient whipping boy for the banking sector and its “excessive” bonus culture.
3 commentsAegon seals £1.7bn bank credit deal
Dutch insurance company Aegon, which owns the Edinburgh-based group of the same name, yesterday said it agreed a €2 billion (£1.7bn), five-year credit facility agreement.
Radical redesign ‘is essential for pensions’
PENSIONS should be radically redesigned into more flexible “lifetime savings accounts” to help young people pay off debts such as student loans, according to the head of Saga.
Former Lloyds boss Eric Daniels takes job with City adviser to banks
ERIC Daniels, the controversial former Lloyds Banking Group chief, has found a new job in the City advising banks.
Lehman’prophet’ hit by £3.6m fine
David Einhorn, the high-profile American hedge fund manager who foresaw problems at Lehman Brothers before the Wall Street bank collapsed, was hit with a £3.6 million fine from the Financial Services Authority (FSA) yesterday for trading on inside information.
Scott’s key role at Barclays Wealth
BARCLAYS Wealth has bolstered its ranks in Scotland with the appointment of Gordon Scott as a director in its Glasgow private banking team.
I-design is cashing in on sales
CASH machine advertising firm I-design said yesterday that sales in the last three months of 2011 had shown a “strong performance” and it expects further expansion this year.
Lloyds counter–claims over ‘fee errors’
Lloyds Banking Group has filed a £4.2 million counter-claim against property managers Invista Real Estate, in which the bank owns a 60 per cent stake.
2 commentsRBS moves to stymie legal battle in Texas
A LONG-running legal battle resumes tomorrow at the High Court in London between Royal Bank of Scotland and US hedge fund Highland Capital over a called‑in loan.
6 commentsBig-money deal slowdown hits RBS operations
ROYAL Bank of Scotland has revealed that a slowdown in big-ticket property deals will see a shake-up of its lending operations.
2 commentsBroadening choice in travel insurance
MoneySupermarket.com has launched a new travel insurance channel for people with pre-existing medical conditions, making the task of buying insurance easier for the one in five people who require cover of this type.
Cosmetic surgery industry insurance scheme proposal
An INSURANCE scheme for cosmetic surgery patients could be introduced in the wake of the breast implant scandal.
- Alex Salmond under fire for Nazi jibe at BBC adviser
- Scottish independence: TV presenter Neil Oliver warns against knee-jerk decisions
- Donald Trump brands Alex Salmond ‘insane’ over windfarms
- Battle lines being drawn by SNP members over key Alex Salmond policies
- UK denies preparing for new Falklands war
- Alex Salmond under fire for Nazi jibe at BBC adviser
- Scottish independence: TV presenter Neil Oliver warns against knee-jerk decisions
- The Rumour Mill: Friday’s football news and gossip
- Minimum pricing on alcohol is legal in EU says Nicola Sturgeon
- Donald Trump brands Alex Salmond ‘insane’ over windfarms
Looking for...
Featured advertisers
Jobs
Search for a job
Motors
Search for a car
Property
Search for a house
Weather for Edinburgh
Sunday 12 February 2012
Today
Light rain
Temperature: 2 C to 8 C
Wind Speed: 8 mph
Wind direction: West
Tomorrow
Cloudy
Temperature: 3 C to 9 C
Wind Speed: 17 mph
Wind direction: West
