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View the article online at http://citywire.co.uk/wealth-manager/article/a736822

Sunday Papers: Free banking could end, says RBS boss

by Himanshu Singh on Mar 02, 2014 at 07:21

Sunday Papers: Free banking could end, says RBS boss

Top stories

  • The Sunday Telegraph: RBS chief Ross McEwan says the end of free-if-in-credit banking would lead to greater transparency about how banks funded themselves.
  • The Observer: Berkshire Hathaway said on Saturday that fourth-quarter earnings rose 10% to nearly $5 billion as its insurance, rail and energy businesses generated major gains in the improving economy.
  • The Sunday Telegraph: Investors push Standard Chartered on growth fears; concerns over future growth from Asian business, and a $1 billion write-off from struggling Korean division, have led investors to question bank's capital position.
  • The Sunday telegraph: Warren Buffet cuts holding in Tesco by 27.6% in last year, piling pressure on Britain's biggest grocer in the midst of its turnaround plan.
  • Mail on Sunday: Hereforapound.com, Britain’s first online pound shop, said demand has rocketed in its first few weeks of trading, setting the group up for sales of more than £5 million in its first year.
  • Mail on Sunday: Marco Pierre White – the chef, restaurateur and television personality - has signed a deal with hotel developer Sanguine Hospitality that will see 50 branded restaurants bearing his name rolled out across the UK in the next five years.

Business and economics

  • Mail on Sunday: Hopes that Royal Bank of Scotland would buy back a key part of the Government’s stake in the business this year have been dashed, shattering City expectations of an imminent £1.5 billion windfall for Chancellor George Osborne.
  • The Sunday Telegraph: Shadow business secretary Chuka Umunna applauds Waitrose after his fellow Labour MP criticised the grocer's coffee and newspaper offers to loyalty card holders.
  • Mail on Sunday: Hargreaves Lansdown introduces discounts on leading funds that will 'save typical investor £1,000 over ten years'.
  • Mail on Sunday: Tesco is facing the wrath of TV chef Hugh Fearnley-Whittingstall and environmental pressure group Greenpeace after stocking a cut-price brand of tuna linked to a controversial fishing method that can kill sharks, rays and turtles.
  • Mail on Sunday: Independence for Scotland could put Scotch Whisky at risk of copycat products and threaten the success of one of Scotland’s biggest exports, the Treasury has warned.
  • The Sunday Telegraph: The John Lewis Partnership is set to reveal profits of £370 million this week after the business enjoyed one of the most successful Christmas trading periods in its history.

Share tips, comment and bids

  • Mail on Sunday (Midas share tip): Manx Telecom is a solid, mature business that should deliver rising profits and a juicy dividend. This is a great little stock for investors in search of income with a bit of growth, too.
  • The Sunday Telegraph (Questor share tip): William Hill looks a decent bet; if investors climb on board now, they could enjoy a lot of upside – buy.
  • The Sunday Telegraph (Questor share tip): With Hester at the helm, RSA is worth the risk; those willing to gamble on the insurer as a speculative recovery play should stand firm.
  • The Sunday Telegraph: Johnston Press hopes to raise £75 million in rights issue; Scotsman and Yorkshire Post publisher will issue new shares to investors at a discount as part of a debt refinancing package expected as soon as April.
  • The Sunday Telegraph: Electronics retailer Maplin up for sale; a sale to a larger player in the sector or a rival private equity firm thought most likely.
  • Mail on Sunday (Comment): Investors need to ‘take smart risk’ and British shares lead the way.
  • Mail on Sunday (Comment): Fear behind £11 billion facebook deal and dotcom buying frenzy.

1 comment so far. Why not have your say?

Ian Lees

Mar 02, 2014 at 10:04

It may have escaped the ceo of the Robbing bank of Scotland ( RB and S ) that free banking has already disappeared . given the tax payer is funding his extravagant salary - his bonuses and those of his colleagues, directors and all senior management. Apparently they need a bonus to keep them quiet about the dodgy dealing of RB and S - whilst sponsoring Rugby Six Nations. Is this a good use of Tax payers money - Mr Osborne ? If Alex Salmond gets his way - and Scotland becomes Independent . . .which side of the Rugby uprights will RB and S be promoted ? Will sponsorship be halved ? Alex Salmonds letter to ordinary Fred - to proceed with the purchase of Old Mutual . . .has got its airing . . .and the strategy of Salmond can be in no doubt . . . . .Sub Standard Lifes purchase of Edinburgh plot ( for burial or investment ) needs to be justified to the new breed of shareholders ( as opposed to the mutual shareholders - where the employees were frog marched to the AGM - to vote with their employer - like a Union vote . . . . e.g National Union marching their " members " . . . . . replacing democracy with totalitarianism . . . . . . . described in the dictionary as " Brute Force ". This is not the way of any reasonable company !

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