Hints and tips:
...Below them, over a hundred smaller fintechs are jostling for various parts of the payments pie, according to data from CB Insights....
...Former RBS director Penny Hughes has been picked as chairman....
...Abraaj founder (FT) ‘Black Monday’ plays the Wall Street crash for laughs (WSJ) Netflix falls short on subscriber and revenue targets (FT) Google ramps up bet on wearable tech with Fossil deal (FT) RBS...
...Your European readers may be confused in thinking a $45bn bailout meant expense to taxpayers or the CB — it did not. They profited.”...
...UBS and RBS have moved. Others — Deutsche and Barclays, for example — have been less radical so far and need to go further....
...… Shredded: Inside RBS, the Bank that Broke Britain, by Ian Fraser, Birlinn, RRP£25 RBS, briefly the biggest bank in the world, was a rogue bank....
...Or if you prefer financial market analysis leavened with anecdote, Alberto Gallo at RBS recently spoke to a German professor....
...… European Spring: Why Our Economies and Politics are in a Mess and How to Put Them Right, by Philippe Legrain, CB Books, RRP£12.99 This is a splendid book on the European malaise....
...A point echoed by RBS: The net read here is that this is a clear positive for market sentiment....
...If we ignore the benefits of overcollateralization in the CB pool, in the event of failure there are insufficient unencumbered assets to pay the deposit base....
...Knight Frank has been instructed to act on behalf of Beetham and Mirax, while CB Richard Ellis is acting for RBS. The original loan was provided by RBS, although it has been shared with other banks....
...After Bernanke’s CBS 60 Minutes interview, many traders thought it might sell off again....
...Note today’s Telegraph article alleging that the Fed are already mulling more QME of another US$2.6trn (to take their balance sheet to US$5trn), which is totally unsurprising (we think CBs are far more dovish...
...It’s likely that this ratio is higher currently, RBS analysts said....
...The portfolio, which comprises 55 properties let to RBS until 2037, is being sold by Telereal Trillium. the property company of the London-based Pears family....
...Related links: RBS and Lloyds “most exposed” to CRE, CreditSights says – FT Alphaville The Halabi CMBS crunch – FT Alphaville...
...CB Richard Ellis, a consultancy, estimates that there are about £80bn ($132bn, €88bn) of poor quality property loans in the UK alone, or 27 per cent of all the British sector’s debt....
...But none of that should unduly alarm RBS and Wachovia, according to one banker. “The club has performed well on and off the pitch....
...The media sector received a boost after CBS, which gained 8.1 per cent to $9.43, said it would cut more costs to mitigate against a fall in advertising....
...From RBS: Deutsche Bank (Key Sell) Massive profit warning of €4.8bn loss vs our expectations of a small loss....
...But I suspect the market has taken this on board for now,” said Alan Ruskin, chief international strategist at RBS Greenwich Capital....
...RBS was advised by Lazard. Quinlan Private and PropInvest were advised by BH2 and CB Richard Ellis....
...Geoffrey Dicks, RBS: As I wrote in my piece on the Minutes, the MPC does not seem to have any confidence in its own analysis....
...Geoffrey Dicks, RBS: I reckon Asia now has its own internal growth dynamic which will give it some protection from (1), should it transpire....
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