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Friday newspaper round-up: Royal Bank of Scotland, Wheat, Barclays

Fri, 06th Aug 2010 06:32

Royal Bank of Scotland is today expected to announce the sale of the UK's leading credit card payment processing business to private equity in a £2bn ($3.18bn) deal expected to generate an £800m to £900m book gain.People close to the transaction said RBS hoped to announce the sale of its Global Merchant Services arm to Advent International and Bain Capital with the bank's first-half results today. Both sides were still negotiating the deal last night, however, the FT reports.Europe is enjoying an unexpectedly strong economic rebound as financial market strains ease, the President of the European Central Bank said yesterday. In a cautiously optimistic assessment, Jean-Claude Trichet said some of the concerns surrounding the future of the eurozone this year have subsided as traders fret about the American economy. Eurozone data from the second quarter and last month have been firmer than the ECB had expected, Mr Trichet told a press conference after leaving interest rates unchanged at 1%., the Times reports.North Sea oil companies, including BP, are considering whether to build a giant cap to contain future oil spills like the Gulf of Mexico disaster in a move that could raise the cost of drilling. Oil & Gas UK, the North Sea industry body, yesterday asked engineers from Wood Group to look at whether it would be economically viable for British companies to build emergency containment systems for potential leaks, the Telegraph reports.Russian premier Vladimir Putin has ordered a halt to all exports of wheat and other grains from August 15, raising the stakes dramatically in the crisis over wheat supplies. "This is very serious," said Abdolreza Abbassanian, chief grain economist at the UN Food and Agriculture Organization. "It's a desperate situation because it has caught everybody off guard. We're not facing the situation of two years ago but there is a risk of destabilising panic," the Telegraph reports.The Independent adds the world faces an inflationary time bomb as shortages of food threaten to push prices to fresh all-time highs. A variety of freakish weather conditions across the world has sent the price of staples including wheat, pork, rice, orange juice, coffee, cocoa and tea to fresh highs in recent weeks. Yesterday's decision by the Russian government to ban the export of wheat to protect home consumers saw grain prices jump 8% on the day, on what was already a two-year high.The scale and speed of cuts to the NHS became apparent yesterday as confirmed job losses this year reached 11,000 and union leaders threatened to take the Government to a judicial review over the pace of reform. Unison, the biggest public sector union, accused ministers of "conning" voters with claims that they were protecting frontline services, the Times reports.3i has hired investment bankers to sell the two biggest companies - with a combined value of more than €1bn (£830m) - in its German portfolio in moves aimed at reducing its debt. Rothschild has been asked to prepare an initial public offering of Norma Group, a maker of metal and plastic engineered joining products, which is planning a listing next year with an enterprise value of about €700m, the FT reports.General Motors raised the bar for manufacturers seeking ways to tempt recession-hit consumers back into showrooms when it became the first carmaker to offer a "lifetime warranty" on all its new Opel and Vauxhall cars in Europe. The US carmaker said the warranty would apply to the first owner of any of its German and UK marques registered from this month, and remain valid through the life of a car until it has registered 100,000 miles, the FT reports.Ofcom has pledged to give up some of its powers over the media industry, amounting to deregulation "in a host of areas". Last month the Government published plans to trim the regulator's remit, with further cutbacks to come in 2012.The head of Barclays has warned that Britain risks becoming an uncompetitive place for banks to be based amid a slew of new taxes and restrictions. John Varley highlighted the new Government's levy on banks' balance sheets, which comes into force in January, as a cause for concern and emphasised the need for a "level playing field", reports the Times.Barclays set aside a £1.7bn bonus pool for its staff in the first half of the year as profits surged to £3.9bn. The bonus pool will be benefit 150,000 staff, but the lion's share will go to Bob Diamond's investment bankers at Barclays Capital. The profit figure was up 44 per cent on the same period last year, although it was flattered by accounting technicalities, adds the Independent.Barclays has launched a spirited defence of its approach of combining retail and investment banking under one roof, with executives on Thursday delivering a thinly veiled warning to the UK government that a break-up could force it overseas. John Varley, chief executive, said Barclays' so-called universal model had proved its resilience and profitability through the financial crisis, the FT adds.
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28 Mar 2024 10:00

How the oil industry is thriving despite Joe Biden's climate policies

GRAPHIC on Biden's oil boom: https://www.reuters.com/graphics/USA-BIDEN/OIL/lgpdngrgkpo/

By Nichola Groom, Jarrett Renshaw

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27 Mar 2024 20:59

New England offshore wind auction draws multiple bidders

March 27 (Reuters) -

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27 Mar 2024 12:47

Ithaca Energy gets bid rights on Eni's UK assets, profit slips

March 27 (Reuters) - Ithaca Energy has been given a four-week exclusivity period by Italy's Eni, to make an offer for UK exploration and production assets that could expand its output massively, the London-listed company said on Wednesday.

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27 Mar 2024 09:01

Big Oil's climate planning not good enough, investor group says

Climate Action 100+ assessed 10 top oil companies

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27 Mar 2024 08:31

Big Oil's climate planning not good enough, investor group says

Climate Action 100+ assessed 10 top oil companies

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25 Mar 2024 16:51

LONDON MARKET CLOSE: Renewed global tensions put pressure on stocks

(Alliance News) - Stock prices in London started the week in bad shape and closed lower on Monday, as investors sat on their hands amid rising global tensions.

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21 Mar 2024 15:00

UK dividends calendar - next 7 days

Friday 22 March 
easyJet PLCdividend payment date
FRP Advisory Group PLCdividend payment date
Gulf Investment Fund PLCdividend payment date
Henderson Opportunities Trust PLCdividend payment date
Hercules Site Services PLCdividend payment date
Impax Asset Management Group PLCdividend payment date
JLEN Environmental Assets Group Ltddividend payment date
JPMorgan Multi-Asset Growth & Income PLCdividend payment date
Mattioli Woods PLCdividend payment date
Mobeus Income & Growth 2 VCT PLCdividend payment date
Mobeus Income & Growth 4 VCT PLCdividend payment date
Ramsdens Holdings PLCdividend payment date
Riverstone Credit Opportunities Income PLCdividend payment date
Ruffer Investment Co Ltddividend payment date
Samuel Heath & Sons PLCdividend payment date
Troy Income & Growth Trust PLCdividend payment date
Unilever PLCdividend payment date
Monday 25 March 
AstraZeneca PLCdividend payment date
Endeavour Mining PLCdividend payment date
Mountview Estates PLCdividend payment date
Shell PLCdividend payment date
Tuesday 26 March 
no events scheduled 
Wednesday 27 March 
abrdn Diversified Income & Growth PLCdividend payment date
Thursday 28 March 
Alliance Trust PLCdividend payment date
Balanced Commercial Property Trust Ltddividend payment date
Berkeley Group Holdings PLCdividend payment date
BHP Group Ltddividend payment date
BlackRock Energy & Resources Inc Trust PLCex-dividend payment date
BlackRock Sustainable American Income Trust PLCex-dividend payment date
BlackRock Throgmorton Trust PLCdividend payment date
BP PLCdividend payment date
City of London Investment Group PLCdividend payment date
Crown Place VCT PLCdividend payment date
CT UK Capital & Income Investment Trust PLCdividend payment date
Develop North PLCdividend payment date
Diversified Energy Co PLCdividend payment date
Downing Renewables & Infrastructure Trust PLCdividend payment date
Gateley Holdings PLCdividend payment date
Genus PLCdividend payment date
Hargreaves Lansdown PLCdividend payment date
HICL Infrastructure PLCdividend payment date
Idox PLCex-dividend payment date
Imperial Brands PLCdividend payment date
Melrose Industries PLCex-dividend payment date
Mid Wynd International Investment Trust PLCdividend payment date
Moneysupermarket.com Group PLCex-dividend payment date
NextEnergy Solar Fund Ltddividend payment date
North Atlantic Smaller Cos Investment Trust PLCdividend payment date
Personal Group Holdings PLCex-dividend payment date
Premier Miton Global Renewables Trust PLCdividend payment date
Quartix Technologies PLCex-dividend payment date
Renewables Infrastructure Group Ltddividend payment date
Schroder Real Estate Investment Trust Ltddividend payment date
SDCL Energy Efficiency Income Trust PLCdividend payment date
Smith & Nephew PLCex-dividend payment date
Taylor Wimpey PLCex-dividend payment date
Thames Ventures VCT 2 DSO 1 D PLCdividend payment date
Travis Perkins PLCex-dividend payment date
Utilico Emerging Markets Trust PLCdividend payment date
Vaalco Energy Incdividend payment date
Value & Indexed Property Income Trust PLCex-dividend payment date
VH Global Sustainable Energy Opportunities PLCdividend payment date
Volution Group PLCex-dividend payment date
Wynnstay Group PLCex-dividend payment date
  
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A full 14-day events calendar is provided each day with a subscription to Alliance News UK Professional.
  
Copyright 2024 Alliance News Ltd. All Rights Reserved.

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19 Mar 2024 16:57

LONDON MARKET CLOSE: European large-caps rise on eve of Fed decision

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19 Mar 2024 11:52

LONDON MARKET MIDDAY: European markets flat ahead of Fed and BoE

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18 Mar 2024 11:49

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15 Mar 2024 13:07

IN BRIEF: Costain wins place on GBP4 billion carbon capture project

Costain Group PLC - Maidenhead, Berkshire-based construction and engineering firm - Selected as one of nine specialist partners to deliver a carbon capture project beneath the North Sea off the east cost of England. The engineering, procurement, and construction contracts for the East Coast Cluster have a combined value of around GBP4 billion, Costain says. The contracts will be with Net Zero Teesside Power and the Northern Endurance Partnership. NZT Power is a electricity generating joint venture of the UK's BP PLC and Norway's Equinor. NEP is a joint venture of BP, Equinor and France's TotalEnergies SE that will provide CO2 transport and storage for the East Coast Cluster. Final investment decisions are expected in September or earlier, with the projects aiming for commercial operations from 2027.

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15 Mar 2024 12:11

LONDON MARKET MIDDAY: FTSE 100 underperforms despite mining, oil boost

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14 Mar 2024 11:54

BP details green credentials in similar push towards net zero as Shell

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14 Mar 2024 10:19

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