Royal Bank of Scotland Group PLC
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One of Britain's smaller banks, championed by lawmakers as an alternative to institutions like Barclays and Royal Bank of Scotland, is floundering. The New York Times reports.
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May 13- Barclays Plc, the first bank to settle with authorities over alleged manipulation of the Libor interest rate, on Monday won the dismissal of a U.S. lawsuit by shareholders who claimed they lost money because of the British bank's activity.
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By James Davey and Matt Scuffham LONDON, May 7- British grocer J Sainsbury. Although many Britons blame banks for the country's economic problems and lawmakers are keen to encourage greater competition, the' big 5'- Lloyds, RBS, Barclays, HSBC and Santander UK- control 83 percent of current accounts as customers have been reluctant to switch.
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Investors cheered HSBC first quarter results on Tuesday, but analysts said the bank's profit-beat was misleading, and recommended RBS and Lloyds shares.
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UK banks' use of funding from US prime money market funds has continued to decline in early 2013, consistent with their ongoing efforts to reduce reliance on wholesale funding, Fitch Ratings says. US MMF exposures to UK banks fell to 4.3% of assets under management at end-March, a 16% decline over the last nine months and a new low over our period of study.
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May 7- Royal Bank of Scotland:. *Deutsche Bank cuts price target to 275 p; rating hold. Reuters Station users, click. 1580.
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May 7- Royal Bank of Scotland Group PLC:. *Exane BNP Paribas cuts target price to 320 p from 330 p; rating neutral. Reuters Station users, click. 1580.
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LONDON, May 7- J Sainsbury, Britain's third largest supermarket group, said on Tuesday it was in advanced negotiations with Lloyds Banking Group to take full ownership of the Sainsbury's Bank joint venture. The statement was prompted by media speculation over the weekend that Sainsbury's was on the verge of buying out Lloyds' 50 percent stake in the bank.
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May 7- Royal Bank of Scotland:. *RBC cuts price target to 355 p from 366 p; rating sector perform. Reuters Station users, click. 1580.
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May 7- Royal Bank of Scotland:. *Nomura cuts price target to 270 p from 300 p; rating reduce. Reuters Station users, click. 1580.
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*Rate-setting scandals in US, London triggered review in Singapore. SINGAPORE, May 7- Mukesh Kumar Chhaganlal said he tried to warn his manager at UBS AG about the "increasingly unrealistic" currency rates being set last year for the Indonesian rupiah against the dollar.
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The European Commission and the U.S. Department of Justice are also conducting antitrust investigations into the banks and Markit relating to anticompetitive behavior in CDS.
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The European Commission and the U.S. Department of Justice are also conducting antitrust investigations into the banks and Markit relating to anticompetitive behavior in CDS.
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PARIS, May 6- French water and waste treatment company Saur's creditor banks could join up with one of three potential bidders to try to reduce its 1.8 billion euro debt, sources close to the talks said.
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May 6- Royal Bank of Scotland Group PLC:. Reuters Station users, click. 1568. Reuters Station users, click. 4899.
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Concerns that strict rules on bank capital levels would harm lending to the UK economy are greatly exaggerated, Britain's top banking regulator Andrew Bailey said. Mick Davis, the former boss of pre-merger mining giant Xstrata, has hired Goldman Sachs to raise money to set up a new resource giant. UK COAL'S FATE REST IN TAX MAN'S HANDS.
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**RADCOM LTD, $4.05, up 53 pct. **DELCATH SYSTEMS INC, $0.43, down 45 pct. **LINKEDIN CORP, $181.69, down 10 pct.
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By Clare Hutchison and Josie Cox. "I think treasurers relied on their banks a bit too much pre-2008, but you have to be a little nervous about relying on capital because public markets can come and go," Katherine Horrell, group treasurer at Centrica, said.
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**RADCOM LTD, $4.05, up 53 pct. **DELCATH SYSTEMS INC, $0.43, down 45 pct. **LINKEDIN CORP, $181.69, down 10 pct.
