December 7 2013 Latest news:
Monday, October 28, 2013
Royal Bank of Scotland’s quarterly figures on Friday will be dominated by attention on the outcome of a government-commissioned report into whether the bank’s “bad” assets should be hived off.
The study by investment bank Rothschild has advised Chancellor George Osborne on the merits and pitfalls of separating operations such as Ulster Bank and £40bn of non-core loans in order to accelerate the privatisation of the remaining good parts.
Any such move could also result in the accelerated sale of its American retail bank Citizens, valued at around £8bn.
Taxpayer-backed Lloyds Banking Group and rival Barclays will both update the City on their third quarter performance amid a period of upheaval for both businesses.
The trading update for Lloyds tomorrow will be the first since the Treasury began the process of returning its stake in the bank to the private sector, selling a 6pc chunk for £3.2bn to institutional investors last month.
BT unveils second quarter results on Thursday amid concerns that it has overestimated the size of the market for its TV sports channels as it vies with BSkyB over Premier League football coverage.
Analysts at UBS have downgraded shares in the telecoms giant, judging that it may struggle to make good its major investment in the project.
BT has paid £738m for the rights to show 38 top-flight football games a season for three years.
Oil giant BP posts third quarter figures tomorrow in the wake of a legal victory for the group to limit compensation payouts for the 2010 Gulf of Mexico oil spill.
A US federal appeals court said the terms of a compensation agreement struck with BP last year should be reviewed to help stem bogus or inflated claims for damage by businesses from the disaster, when an explosion on its Deepwater Horizon oil platform killed 11 men and sparked the worst spill in US history.
Two hundred jobs are set to be created after one of west Norfolk’s largest businesses was granted permission to expand its King’s Lynn facilities.