Banks

UBS (SIX:UBSN) proved this morning that the banking crisis is not over, announcing that it would be cutting another 10,000 jobs  worldwide by 2015.  Apparently the cuts are starting immediately. Although the company has denied the reports, it is alleged that some workers were unable to gain access to the bank with their electronic passes […]

As we approach the end of 2012, providing of course we get past 21 December when the Mayan calendar seems to indicate that the world will end, the replacement of the Financial Services Authority (FSA) by the Prudential Regulatory Authority (PRA) will take place.  There are some signs that the industry is nervous about the […]

The fact that Direct Line Insurance Group (LSE:DLG) shares are potentially favorable to buyers should not be downplayed. The technical reasons for this assumption are trotted out in this article. Even when there are brief corrections, the price would go as analyzed, as bears and bulls continue their normal activities. Technical Forecast Based on the […]

No, this is not an attack on the British banking system.  God knows, it probably couldn’t survive another attack.  It is however, about the continuing fallout from the banking crisis, incompetency at management levels, and skulduggery in executive offices.  It is not a rehash of all the things we already know.  It is a reminder […]

UK’s public money-backed Royal Bank of Scotland (LSE:RBS) is to exit the British Government’s version of an insurance program specifically for financial institutions, three years after the bank agreed to be protected against future credit losses during the wake of the financial crisis. RBS, the only British bank that sought this protection after Lloyds Banking […]

Hours after trading closed in London on Friday last week, The Royal Bank of Scotland (LSE:RBS) announced Santander UK plc decided to pull out of its agreement to acquired RBS branches in England and Wales and NatWest branches in Scotland, putting serious pressure on the British bank to find an alternative solution to comply with […]

RBS’ (LSE:RBS) divestment of it insurance arm, Direct Line Group (LSE:DLG) has officially begun with limited trading in this year’s IPO Derby.  Opening at 175.00, the share price was off and running to 186.80 mark shortly after 1:00 pm.  The 450 million shares were being gobbled up like a horse that hadn’t eaten in a […]

Britain’s second largest bank by asset, Barclays (LSE:BARC), is poised to expand its reach after agreeing to acquire a competitor’s savings and mortgage business in the UK to be added to the bank’s retail operation and said the deal will immediately be “accretive” to the bank’s return on equity. In a statement today, Barclays disclosed […]

Just one day after Michael Wheatley warned the UK banking sector that they have yet to see below the waterline of the iceberg that is looming before them in the form of the FCA, Royal Bank of Scotland (LSE:RBS) CEO Stephen Hester has taken the high ground, indicating that he intends to steer the titanic […]

The decades-old Carpenter’s hit “We’ve Only Just Begun” has become Martin Wheatley’s favorite song.  He likes to hum it in a minor key so that any bankers who hear him will sense that something major and ominous is coming.  They would be right.  For some, it’s going to be game over, once Wheatley gets the […]