Bomb Kills Sunni Sheik Working With U.S. In Iraq The leader of local Sunni tribes in Iraq who have joined American and Iraqi forces in fighting extremist Sunni militants was killed by a bomb today, Iraqi police officials said.... Read Full Article Setback For Ill Workers At Nuclear Bomb Plant A federal advisory panel has recommended that former workers at a nuclear weapons plant be denied immediate government compensation.... Read Full Article Queen’s Nephew ’victim’ Of Blackmail The Queen’s nephew, Viscount David Linley, has been named as the victim of an extortion plot as it emerged the bail hearing for one of his accused blackmailers will be held privately in an attempt to ... Read Full Article Music Review | Sari Gruber: A Dirge And An Outburst, Served Up With Caution ?Midnight Rain,? a song cycle by George Tsontakis, had its world premiere on Thursday night at Alice Tully Hall during a recital by the soprano Sari Gruber.... Read Full Article Investors Bet On US Rate Cut With the US Federal Reserve expected to cut interest rates overnight, the subprime meltdown expected to continue well into next year.... Read Full Article |
Scotland NewsAmericans look into Royal Bank of Scotland sub-prime dealsTHE US Securities and Exchange Commission is investigating Royal Bank of Scotland (RBS) over its exposure to American sub-prime mortgages.Read Full Article Royal Bank of Scotland offered deal for Direct Line in SpainSpain’s Bankinter has asked Royal Bank of Scotland (RBS) about a buyout of their insurance joint venture, in a move that values the business at up to £700m.Read Full Article Industry rivals in race for Royal Bank of Scotland InsuranceRoyal Bank of Scotland is considering selling a strategic stake in its insurance business and running the owner of Direct Line and Churchill as a partnership as it moves to raise capital to repair its tattered balance sheet. Bankers managing the sale of RBS Insurance are preparing to send out sales memorandums to prospective buyers, including private equity and trade buyers, over the next few weeks. A source close to the sales process said: “Some people would be interested in buying a large stake and having a partnership.” Analysts are speculating that the Edinburgh-based bank, which hoisted a “for sale” sign over the businesses this week, will be able to sell its insurance unit for about £6 billion. RBS confirmed that it was selling its insurance business as it pressed on with a deeply discounted £12 billion rights issue that has raised hackles among its big institutional shareholders. Going for a rights issue, after pledging for months that it had no need to raise capital, has put the jobs of Sir Fred Goodwin, chief executive, and Sir Tom McKillop, chairman, on the line. The bank is aiming to free £4 billion in capital gains from the process, which is running alongside its record breaking rights issue. Merrill Lynch is managing the sale, helped by Goldman Sachs. Banking sources said that there was huge interest in RBS Insurance, which also includes the Privilege car and home insurance operations. RBS Insurance underwrites a third of UK retail motor premiums, according to analysts at Keefe, Bruyette & Woods (KBW), who said that a new owner would be in a position to redefine the market for insuring cars in Britain. Personal motor insurance accounts for more than half of the business’s gross written premiums, KBW said. Direct Line was founded in 1985 and RBS bought Churchill in 2003 for £1.1 billion. As well as selling through the well-known brands, RBS Insurance underwrites policies sold by Tesco, Nationwide and several car retailers. KBW suggested that potential bidders were AIG, the American insurance giant, Allianz, of Germany, and AXA, of France. Warren Buffett’s Berkshire Hathaway reinsurance group, Generali, of Italy, and the Swiss Zurich Financial Services were also named. Aviva, Britain’s largest general insurer, yesterday ruled itself out as a bidder. Banking sources said that RBS would prefer to sell the business as a whole but would consider the sale of individual business lines, as well as a strategic stake. Sources close to the bank said that it would sell only if it received a sufficiently high offer but it hoped to complete a sale by the end of the year. Apax and Kohlberg Kravis Roberts are said to be considering a consortium bid, with Lehman Brothers, the investment bank, in line as an adviser. RBS shares closed the week almost 2.5 per cent higher, up 8¼p at 349p. RBS will offer 11 new shares for every 18 existing shares, priced at 200p.Read Full Article Strike at Scotland Refinery Forces BP to Shut a PipelineWorkers walked off the job Sunday at the only oil refinery in Scotland, requiring BP to close a pipeline that supplies about a third of Britain’s petroleum needs.Read Full Article Grangemouth firm in deal with British EnergyIneos, the petrochemicals giant whose Grangemouth refinery in Scotland has been shut down by a strike, is in talks with British Energy over a power deal that would help to finance a new generation of nuclear power stations in Britain.Read Full Article External News for: scotlandRoyal Bank of Scotland Sells $7 Billion of Debt - Bloombergguardian.co.ukRoyal Bank of Scotland Sells $7 Billion of DebtBloomberg20 (Bloomberg) -- Royal Bank of Scotland Plc, sold $7 billion of debt due in March 2012, according to data compiled by Bloomberg, equaling the largest US ...RBS Launches $7B In UK Govt-Backed Bonds In 2 Parts-SourceWall Street JournalRoyal Bank of Scotland loses landmark wheelchair access appealTimes OnlineBank loses disabled access appealBBC NewsScotsman -Linex Legal (registration) -DeHavilland (press release) (subscription)all 101 news articles »Royal Bank of Scotland Sells $7 Billion of Debt - Bloombergguardian.co.ukRoyal Bank of Scotland Sells $7 Billion of DebtBloomberg20 (Bloomberg) -- Royal Bank of Scotland Plc, sold $7 billion of debt due in March 2012, according to data compiled by Bloomberg, equaling the largest US ...RBS Launches $7B In UK Govt-Backed Bonds In 2 Parts-SourceWall Street JournalRoyal Bank of Scotland loses landmark wheelchair access appealTimes OnlineBank loses disabled access appealBBC NewsScotsman -Linex Legal (registration) -DeHavilland (press release) (subscription)all 101 news articles »Scotland's a fantastic job for someone... just not me - The SunBBC NewsScotland's a fantastic job for someone... just not meThe SunScotland hope to turn back the clock when they appoint a new boss to replace George Burley. Smith has revealed he will NOT be the man ...Walter Smith rules himself out of running for Scotland jobguardian.co.ukSmith explains Scotland decisionBBC NewsScotland job dominates as Rangers manager Walter Smith again rules himself outTelegraph.co.ukAFP -ESPN -Times Onlineall 150 news articles »Royal Bank of Scotland Sells $7 Billion of Debt - Bloombergguardian.co.ukRoyal Bank of Scotland Sells $7 Billion of DebtBloomberg20 (Bloomberg) -- Royal Bank of Scotland Plc, sold $7 billion of debt due in March 2012, according to data compiled by Bloomberg, equaling the largest US ...RBS Launches $7B In UK Govt-Backed Bonds In 2 Parts-SourceWall Street JournalRoyal Bank of Scotland loses landmark wheelchair access appealTimes OnlineBank loses disabled access appealBBC NewsScotsman -Linex Legal (registration) -DeHavilland (press release) (subscription)all 101 news articles »Scotland's a fantastic job for someone... just not me - The SunBBC NewsScotland's a fantastic job for someone... just not meThe SunScotland hope to turn back the clock when they appoint a new boss to replace George Burley. Smith has revealed he will NOT be the man ...Walter Smith rules himself out of running for Scotland jobguardian.co.ukSmith explains Scotland decisionBBC NewsScotland job dominates as Rangers manager Walter Smith again rules himself outTelegraph.co.ukAFP -ESPN -Times Onlineall 150 news articles »Flood alert in south west Scotland - BBC NewsBBC NewsFlood alert in south west ScotlandBBC NewsThe south west of Scotland remains on flood standby with more rain forecast to hit the region over the weekend. The wettest November day on record in ...Scotland braced for another onslaughtThe HeraldAlerts lifted as waters recede and rain easesScotsmanDumfries flooding is worse in 20 yearsstv.tvThe Press Association -Professional Brokingall 36 news articles » |
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