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☆ NatWest to buy Metro Bank mortgage portfolio after 16% profit fall
▼ + stars: | 2024-07-26 | by ( ) www.cnbc.com time to read: +1 min

The logo of NatWest, a retail unit of RBS, outside a bank branch in London, U.K., on Tuesday, June 26, 2012. NatWest's first-half pretax operating profit fell by a less than expected 16% to 3 billion pounds ($3.86 billion), it said on Friday, with margins hit by mortgage market competition and savers shifting deposits to higher-paying products. The British bank also said it would buy a portfolio of prime residential mortgages from Metro Bank for 2.4 billion pounds as it looks to build up its retail banking business. Income for the year is expected to reach about 14 billion pounds, up from an earlier forecast of between 13 billion and 13.5 billion pounds. The results followed a similar update from rival Lloyds Banking Group on Thursday, which reported a 14% fall in first-half profit but offered signs of optimism for the economic outlook in the second half.

Persons: NatWest's, Paul Thwaite Organizations: NatWest, RBS, Metro Bank, Lloyds Banking Group Locations: London

☆ NatWest profit jumps 20% as Thwaite confirmed as CEO
▼ + stars: | 2024-02-16 | by ( ) www.cnbc.com time to read: +2 min

The logo of NatWest, a retail unit of RBS, outside a bank branch in London, U.K., on Tuesday, June 26, 2012. British bank NatWest confirmed Paul Thwaite as its permanent chief executive on Friday and reported forecast-beating profit for 2023, as it gears up for a crunch sale of state-owned stock in the company after a scandal-hit year. The taxpayer-backed lender reported pre-tax profit of 6.2 billion pounds ($7.81 billion) for the 12-month period, up 20% on 5.1 billion pounds the prior year and ahead of a 5.95 billion pounds average of analyst forecasts compiled by the bank. NatWest also announced a final dividend of 11.5 pence per share and a share buyback of 300 million pounds. NatWest set aside 578 million pounds for potential soured loans, up from 337 million pounds the prior year - but the figure came in below analyst forecasts.

Persons: Paul Thwaite, Thwaite, Alison Rose, Nigel Farage, Rose, Peter Flavel Organizations: NatWest, RBS, Brexit Party Locations: London

☆ Dementia and sport: These rugby players represented their country in their 20s, by their 40s, they had early onset dementia
▼ + stars: | 2024-02-05 | by ( Amy Woodyatt | ) edition.cnn.com time to read: +17 min

Popham’s wife, Mel, would have a conversation with her husband and an hour later he would have “no recollection,” he tells CNN Sport. Richard Boardman, the lawyer representing the claimants, told CNN Sport that this is causing an “existential threat” to the game. “As far as the brain is concerned, it doesn’t matter what sport is played,” Michael Grey, a neuroscientist at the University of East Anglia, told CNN Sport. Nowinski, a WWE wrestler turned neuroscientist, told CNN Sport that head injury protocols need to go beyond treating concussion. The paper, which looked at 412 Scottish former international male rugby players aged 30 and above and 1,236 members of the public who had been matched for age, sex and socioeconomic status, found that the rugby players’ risk of a dementia diagnosis over time was just over twice as high.

Persons: Alix Popham, Mel, ”, Popham, ” Popham, I’ve, Alix Popham of Wales, Pat Riordan of, Stu Forster, Lenny Woodard, Woodard, “, “ I’d, I’d, ” Woodard, Brook Joyner, Richard Boardman, ” Michael Grey, Chris Nowinski, Scott McIntyre, Nowinski, ” Ann McKee, ” Boardman, Roger Goodell, University of East Anglia Boardman, Grey, –, ” Steve Borthwick of, Alun Wyn Jones, Paul Harding, ” Grey, McKee, it’s, aren’t, we’re, shouldn’t, weren’t, ” Alix Popham Organizations: CNN, CNN Sport, rugby, Rugby, Alix Popham of Wales offloads, Pat Riordan of Canada, Wales, Getty, World Rugby, Rugby Football Union, RFU, Welsh Rugby Union, WRU, Springer, University of East, National Football League Players, Wrestling Entertainment, WWE, Washington Post, Boston University CTE Center, British Medical, Exercise, NFL, NFL.com, University of East Anglia, RBS, Nations, University of Glasgow, Boston University, University of Sydney, Scottish, ’, “ Rugby, England Rugby, Boston University’s CTE, CTE Locations: France, Wales, England, Canada, Nantes, Europe, University of East Anglia, American, Woodward, Boston

FLORHAM PARK, N.J. (AP) — The New York Jets' playoff hopes could get a big boost with a victory Sunday. The Jets (4-7) are mired in a four-game skid that has them second-to-last in the AFC, ahead of only the division rival Patriots (2-9). “I feel like the playoffs are always from Week 1 all the way through,” coach Robert Saleh said Friday. But it can’t be how you live.”Rodgers had his 21-day practice window started Wednesday and he was limited in his return. He has had his sights set on returning for the Jets' home game against Washington on Dec. 24, but wouldn't rule out a return before then.

Persons: Aaron Rodgers, Robert Saleh, it's, Rodgers, Saleh, “, ” Saleh, ” Rodgers, Garrett Wilson, Aaron, FanDuel Sportsbook, “ We've, Dalvin Cook, Israel Abanikanda, Cook, Abanikanda, Wes Schweitzer, Kenny Yeboah, ___ Organizations: New York Jets, The Jets, AFC, Patriots, Falcons, Jets, Washington, New, RBs Breece Locations: FLORHAM, N.J, New York

☆ NatWest admits 'serious failings' in Nigel Farage incident; shares slide after earnings
▼ + stars: | 2023-10-27 | by ( Jenni Reid | ) www.cnbc.com time to read: +2 min

The logo of NatWest, a retail unit of RBS, outside a bank branch in London, U.K., on Tuesday, June 26, 2012. Simon Dawson | Bloomberg | Getty ImagesTrading in NatWest shares was briefly suspended on Friday morning as the stock slid after a combination of lacklustre earnings and regulators flagging possible rule-breaking in a highly mediatized case. NatWest CEO Alison Rose then admitted to discussing Farage's bank account with a BBC reporter, supplying information that was used in a story and later proved to be inaccurate. Alison Rose, NatWest chief executive, (right) departs 10 Downing Street in London, after meeting with Chancellor Jeremy Hunt. NatWest Group Chairman Howard Davies said the report "sets out a number of serious failings in the treatment of Mr Farage."

Persons: Simon Dawson, Coutts, Nigel Farage, Farage, Alison Rose, Chancellor Jeremy Hunt, James Manning, Howard Davies, Mr Farage, Davies Organizations: NatWest, RBS, Bloomberg, Getty, Trading, Authority, NatWest Group, BBC Locations: London

☆ Middle East violence rattles markets, oil jumps
▼ + stars: | 2023-10-09 | by ( Reuters Staff | ) www.reuters.com time to read: +5 min

MARKET REACTION:- Oil prices surged, with Brent crude trading at $87.25 a barrel - up over 3% on the day. COMMENTS:MOHIT KUMAR, CHIEF EUROPE ECONOMIST, JEFFERIES, LONDON:“The coming days are likely to be driven by geopolitical risks, rather than fundamentals. “Second, OPEC countries do have spare capacity that they restrict willingly to maintain oil price at above $80 (per barrel), but they don’t necessarily think of tripling oil prices – which would only accelerate the energy transition. “This being said, potential retaliation against Tehran is a serious upside risk for oil prices. We will keep an eye on developments, but don’t speculate on a full-blast rise in oil prices for now.”

Persons: Mohammed Salem, Israel’s shekel, MOHIT KUMAR, JEFFERIES, ”, ” CHRIS BEAUCHAMP, Brent, WTI, CAROL KONG, JPY, ” MICHAEL HEWSON, ALVIN TAN, Blinken, “, ” IPEK OZKARDESKAYA, Israel Organizations: Oil, REUTERS, Brent, U.S, Treasury, British Airways, LONDON, Russo, COMMONWEALTH BANK OF, CMC, U.S ., OF, OF ASIA FX, RBS, SWISSQUOTE BANK Locations: Israel, Gaza, Egypt, Yom, EUROPE, Iran, Ukrainian, SYDNEY, Asia, Japan, Straits, Hormuz, OF ASIA, ” “, GENEVA, OPEC, U.S, Tehran

☆ Video shows Ukrainian soldiers taking out a Russian aircraft with a missile in a critical area of its counteroffensive
▼ + stars: | 2023-09-06 | by ( Mia Jankowicz | ) www.businessinsider.com time to read: +3 min

A Ukrainian brigade released footage of a Russian plane being shot down on Monday. The footage was taken near Robotyne, which Ukrainian troops have recently retaken. The 47th Brigade claims to have shot down nine Russian aircraft in total. Several further clips in the released footage show how the soldiers took down the Russian aircraft, with one soldier celebrating as the missile strikes the plane. AdvertisementAdvertisementIn the retaking of Robotyne, the soldiers evacuated six civilians using a Bradley infantry fighting vehicle while under fire from Russian troops, a crew commander told CNN.

Persons: Volodymyr Zelenskyy Organizations: 47th Brigade, Service, 47th, Mechanized Brigade, RBS, CNN, Ukraine, Bradley Locations: Ukrainian, Russian, Robotyne, Wall, Silicon, Ukraine, Sweden, Melitopol, Zaporizhzhia

☆ Video of a Ka-52 attack helicopter being shot down in Ukraine hints Russia isn't learning what it should have by now, former US general says
▼ + stars: | 2023-08-19 | by ( Jake Epstein | Chris Panella | ) www.businessinsider.com time to read: +7 min

Ukrainian forces destroyed three Russian Ka-52 attack helicopters this week alone. One video circulating around social media shows the moment a helicopter gets shot down. Russian forces have benefitted from its Ka-52s for much of the ongoing Ukrainian counteroffensive, using them to inflict damage on enemy ground forces lacking adequate protection. Ukrainian forces have found success this week in downing the formidable Ka-52, which is Russia calls the "Alligator" and NATO calls the "Hokum-B." A Ukrainian soldier looks at fragments of the Russian Ka-52 helicopter destroyed by the Ukrainian army.

Persons: couldn't, —, Ben Hodges, It's, Hodges, Maxym, Russia's, Andriy Yermak, Russia shouldn't Organizations: Service, US Army, NATO, Air Defense Systems, Army, Stingers, RBS, Getty, BBC Russian Service Locations: Wall, Silicon, Russian, Ukraine, Russia, Donetsk, Army Europe, Soviet, Ukrainian, Moscow, Asia

NatWest lifer Rose climbed up the ranks over more than three decades from graduate trainee to boardroom, becoming the first woman to run one of Britain's major banks. "You can be a hero one day, a zero the next, as Alison Rose has found out." Davies lamented the "sad moment" while Rose paid tribute to colleagues who had helped her build solid foundations for the bank, in a statement accompanying the news. RBS TO NATWESTRose succeeded Ross McEwan as CEO of NatWest in 2019, becoming the lender's first female boss. But under Rose's supervision, the bank became one of Britain's biggest participants in government-designed loan schemes to keep ailing businesses afloat.

Persons: Alison Rose, Nigel Farage, NatWest lifer Rose, Coutts, Rishi Sunak, Rupert Younger, Rose, Howard Davies, Rose's, Davies, Charlie Nunn, Farage, impinging, NATWEST Rose, Ross McEwan, McEwan, Stephen Hester, Fred Goodwin, Lawrence White, Conor Humphries Organizations: NatWest's, Brexit Party, NatWest, Oxford University's, Lloyds Banking Group, Britain's, RBS, NATWEST, Royal Bank of Scotland, Thomson Locations: Europe, Westminster, Britain

☆ UK water meltdown resurrects bank crisis dilemmas
▼ + stars: | 2023-06-29 | by ( Neil Unmack | ) www.reuters.com time to read: +7 min

The government may take over heavily indebted Thames Water, a hapless privately held utility unable to fund capital needs that may stretch to 10 billion pounds. Under Macquarie’s (MQG.AX) ownership, which lasted from 2006 to 2016, Thames’ debt rose to over 80% of RCV. They’re issued through a vehicle called Thames Water Utilities Finance. Thames Water CEO Sarah Bentley resigned abruptly on June 27. Thames shareholders, led by Ontario Municipal Employees Retirement System, committed in 2022 to provide 1.5 billion pounds of extra funds.

Persons: Ofwat, Rishi Sunak, Gordon Brown, Kemble, They’re, Sarah Bentley, “, George Hay, Oliver Taslic Organizations: Reuters, Royal Bank of Scotland, Thames, Ontario, Thames ’, Guardian, UK, RBS, Investors, Water Utilities Finance, Yorkshire Water, SES Water, Sky News, Thames Water, Thomson Locations: –, Thames, Yorkshire, Britain’s

☆ A secret Cold War-era deal lets British jets shadow Russian bombers when they fly near a vital Atlantic chokepoint
▼ + stars: | 2023-05-29 | by ( Michael Peck | ) www.businessinsider.com time to read: +7 min

Since the 1950s, Ireland has allowed British jets to intercept Russian aircraft near Irish airspace. Irish Air Corps PC-9s fly by an Irish navy patrol vessel in August 2006. SaabThe Irish military has a few short-range RBS-70 surface-to-air missiles that can reach 16,000 feet, backed by Giraffe search radars. Mulqueen said that official Irish and British statements suggest British pilots could intercept intruders but not actually shoot at them. Should Sinn Fein take power in the future, it would be responsible for Ireland's security, including its air defense.

Order intake at the company that makes a range of military and civilian hardware doubled to 17.02 billion crowns ($1.66 billion) from 8.1 billion, while its order backlog increased to 132.66 billion crowns from 128 billion crowns. Chief executive Micael Johansson said countries are increasing stocks to improve their own resilience, as well as to support Ukraine, which had translated into a strong order intake. Demand has been particularly strong in the surveillance and dynamics businesses, which include sensors, deterrents, support weapons and missiles, he said. Analysts at Citi said it was a strong start to the year for Saab, with sales, operating profit and orders beating consensus. Shares in Saab were up around 4.5% as the market opened, but reversed course later and at 0806 GMT were down 1.5%Operating profit for the maker of the Gripen fighter jet was 928 million Swedish crowns ($90.16 million) in the quarter, compared with 654 million crowns a year earlier.

☆ NatWest outlook drags down shares despite profit leap
▼ + stars: | 2023-02-17 | by ( ) www.cnbc.com time to read: +1 min

The logo of NatWest, a retail unit of RBS, outside a bank branch in London, U.K., on Tuesday, June 26, 2012. NatWest warned on Friday that rising interest rates may not deliver the long-lasting earnings bonanza investors hope for, even though profit jumped by 33% last year. Shares in the bank fell as much as 9% as investors digested forecasts for profitability and costs for 2023, even as the bank reported annual pretax profit rose to 5.1 billion pounds ($6.1 billion) from 3.8 billion pounds. State-backed NatWest did increase payouts for shareholders, announcing a 10 pence per share final dividend and an 800 million pound share buyback. Rose's total pay package for 2022 jumped nearly 50% to 5.2 million pounds, up from 3.6 million pounds the previous year.

☆ Credit Suisse shares look set to continue sell-off
▼ + stars: | 2023-02-10 | by ( ) www.reuters.com time to read: +1 min

ZURICH, Feb 10 (Reuters) - Credit Suisse (CSGN.S) shares looked set to continue their slide on Friday after the bank's reported its latest heavy losses on Thursday and the Swiss regulator said it was watching the situation 'very closely." The bank's shares were indicated 1.1% lower in premarket activity on the Swiss Market Index on Friday. Credit Suisse's stock fell 14.7% on Thursday to 2.77 francs, valuing the lender at 11.1 billion Swiss francs after results which were described by one shareholder as "catastrophic". A string of banks downgraded their outlook for Credit Suisse's shares on Friday. Morgan Stanley, Barclays, and RBS all cut their target prices, contributing to the negative sentiment around Credit Suisse.

☆ A Swedish-made fighter jet could tip the scales against Russia in Ukraine, but it might not get there any time soon
▼ + stars: | 2023-02-05 | by ( Sebastien Roblin | ) www.businessinsider.com time to read: +16 min

Ukraine's air force remains in the fight almost a year after Russia's shambolic invasion. Sooner or later, Ukraine must induct new jet fighters into service — and they sure aren't buying them from Russia. JAS-39 Gripen: background and capabilitiesA Swedish JAS 39 Gripen at Bobo, Norway in October 2018. A Hungarian Air Force JAS-39 Gripen in August 2010. JAS-39 Gripen vs. F-16A US Air Force F-16 takes off from Aviano Air Base in Italy in June 2020.

SummarySummary Companies Top EU court dismisses HSBC challenge over cartel participationUpholds annulment of Euribor cartel fineHSBC separately challenging reduced Euribor fineBRUSSELS, Jan 12 (Reuters) - HSBC (HSBA.L) on Thursday failed to overturn a court ruling that it had participated in a cartel to rig benchmark Euribor rates in 2007, but Europe's top court confirmed that a 33.6 million euro ($36 million) fine had been scrapped. The European Court of Justice, Europe's highest court, rejected HSBC's attempt to clear its name by challenging a 2019 lower court decision that it had colluded with others to try to manipulate key Euribor (euro interbank offered rate) rates. The European Commission, the bloc's executive body, ruled in 2016 that HSBC and six other banks had tried to distort Euribor, a benchmark for rates on financial products, fining the lender 33.6 million euros. Three years later, a lower tribunal scrapped the fine because of insufficient reasoning, but dismissed the bank's attempt to shake off the ruling that it had taken part in a cartel. The European Commission subsequently imposed a slightly lower fine of 31.7 million euros in 2021, which HSBC is separately challenging.

☆ HSBC wins appeal against $36 mln Euribor cartel fine
▼ + stars: | 2023-01-12 | by ( Foo Yun Chee | ) www.reuters.com time to read: +3 min

BRUSSELS, Jan 12 (Reuters) - HSBC (HSBA.L) has won an appeal against a decision by European antitrust regulators to fine Europe's second-largest bank 33.6 million euros ($36 million) over its role in a cartel to manipulate benchmark Euribor interest rates in 2007. HSBC, penalised alongside JPMorgan (JPM.N) and Credit Agricole (CAGR.PA), challenged the decision and in 2019, a lower tribunal scrapped the fine because of insufficient reasoning. The European Commission subsequently re-imposed a slightly lower fine of 31.7 million euros in 2021. HSBC, JPMorgan and Credit Agricole opted against settling with European regulators and, following a full investigation, JPMorgan was fined 337.2 million euros and Credit Agricole was ordered to pay 114.7 million euros. EU, U.S. and British regulators have fined banks billions of euros for manipulating benchmark interest rates and the foreign exchange market.

☆ Ukraine's Zelenskiy asks European leaders for air defence, tanks, weapons
▼ + stars: | 2022-12-19 | by ( Andrius Sytas | ) www.reuters.com time to read: +3 min

"I ask you to increase the possibility of supplying air defence systems to our country, and to help speed up the relevant decisions to be taken by our partners," Zelenskiy said, addressing Sunak. "For our defence operations to be more successful we need armoured vehicles, primarily tanks," said Zelenskiy. "The sooner we restore our border control, the stronger your security will be," Zelenskiy said. "Ukrainian children in their letters to St Nicholas ask for air defence, for weapons, for victory," he said, referring to the name used for Santa Claus in Ukraine. Reporting by Andrius Sytas, editing by Terje Solsvik, Stine Jacobsen and Tomasz JanowskiOur Standards: The Thomson Reuters Trust Principles.

The SEC's whistleblower program was created as part of the 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act, a law passed in response to the 2008 financial crisis. Under the law, eligible whistleblowers can receive a cash award of between 10% and 30% of any monetary sanctions collected above $1 million. Hong provided further documentary evidence, helping FHFA and the U.S. Justice Department secure settlements with RBS for $5.5 billion and $4.9 billion, respectively. Hong sought an award under the SEC's whistleblower program but the commission declared him ineligible because the action against RBS was not taken by the commission itself. Hong's lawyers appealed to the Supreme Court, contending that the SEC is undermining the aim of Congress to incentivize and award whistleblowers by "coordinating enforcement efforts with other agencies and then refusing to pay an award."

☆ HSBC ditches its cost-cut tsar before job is done
▼ + stars: | 2022-10-25 | by ( Liam Proud | ) www.reuters.com time to read: +3 min

LONDON, Oct 25 (Reuters Breakingviews) - HSBC (HSBA.L), (0005.HK) boss Noel Quinn is getting rid of a cost-cutting finance chief, Ewen Stevenson, while his skills are still in need. The former Royal Bank of Scotland chief financial officer and Credit Suisse (CSGN.S) banker only started as HSBC CFO in January 2019. HSBC has so far managed to axe about $4.9 billion of gross annual expenses under a programme launched in early 2020. To keep HSBC’s investors happy, Elhedery will have to do his best impersonation of the bank’s outgoing cost-cutting tsar. Reuters GraphicsFollow @liamwardproud on TwitterloadingCONTEXT NEWSHSBC on Oct. 25 appointed Georges Elhedery as chief financial officer.

Royal Bank of Scotland signs are seen at a branch of the bank, in London, Britain December 1, 2017. RBS agreed to settle Justice Department and FHFA investigations over its sales of residential mortgage-backed securities in the run-up to the financial crisis. The SEC did not pursue its own action against RBS in this instance. The petition Hong filed on Monday asks the Supreme Court to consider what constitutes an "action" within the SEC's whistleblower incentive program. "The better a whistleblower's information, the larger the sanctions, the larger the whistleblower award, and the greater the self-interested motivation for the SEC to take enforcement actions that it has conveniently placed outside of Dodd-Frank's reach," it added.

☆ RBC says buy Nike, the '100lb gorilla in sportswear' as stock is poised to surge 27%
▼ + stars: | 2022-09-22 | by ( Carmen Reinicke | ) www.cnbc.com time to read: +2 min

The firm on Thursday initiated coverage of Nike with a buy rating and a $125 price target, implying a 27% upside to shares. Nike has also stayed one step ahead of its competition through digital and direct to consumer growth. "Nike Digital generated $11bn revenues in FY22 (almost 60% of DTC), of which half are derived from its app suite." China growth In addition, as China comes back online following prolonged Covid-lockdowns, there are green shoots for Nike in the region. If margins in China recover to their peak of 38%, RBC sees mid-single digit earnings upside for Nike.

☆ Молдову ждет дефицит топлива? Как топливные компании выступают против максимальных цен на бензин и солярку
▼ + stars: | 2021-04-01 | by ( ) newsmaker.md time to read: +5 min

В письме излагается мнение о законопроекте топливных компаний Bemol, Petrom и Rompetrol. По мнению топливных компаний, в проекте поправок нет всех важных факторов, которые влияют на формирование адекватной цены на нефтепродукты. ***Отметим, власти решили вернуться к ручному регулированию цен на топливо, после того как с начала года они выросли на 20%. Контролировать работу топливных компаний ведомство может через маржу, которая по закону не может превышать 10%. Ранее NM подробно разбирал аргументы сторон — топливных компаний, регуляторов, властей и экспертов о том, почему растут цены, и как их остановить.

Persons: Александр Олейник, Петр Бурдуже, Олейник, Вячеслав Унтилэ, Марчела Рэдукан, Унтилэ, Рэдукану Organizations: Национальное агентство по регулированию в энергетике (НАРЭ), Ассоциация иностранные инвесторов, Ассоциация иностранных инвесторов, НАРЭ, Совет по конкуренции, Совет Locations: Молдова, Россия, Казахстан, Румыния, Бельгия, Словакия, Словения

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