International Business News - RBS http://www.ibtimes.com All articles are copyrighted by IBTimes.com 400 100 http://www.ibtimes.com/ http://www.ibtimes.com/images/top_logo_ibt2_3.gif A look at economic developments and stock-market activity around the world Monday: ___ http://www.ibtimes.com/articles/20081201/a-look-at-economic-developments-around-the-world.htm Mon, 01 Dec 2008 18:57:48 EST House prices in Britain fell to their lowest level in nearly three years in November, as banks reined in lending and buyers were deterred by the economic downturn, a leading housing report said Monday. http://www.ibtimes.com/articles/20081201/uk-house-prices-fall-close-to-3-year-low.htm Mon, 01 Dec 2008 04:38:19 EST Royal Bank of Scotland Group PLC said Monday it would give homeowners who miss mortgage payments at least six months before starting repossession action--double the three months it used to give. http://www.ibtimes.com/articles/20081201/rbs-to-give-struggling-homeowners-more-time-to-pay.htm Mon, 01 Dec 2008 03:37:41 EST Black Friday shoppers out in force, but cautious NEW YORK (AP)--Shoppers, who had snapped their wallets shut since September, turned out in force Friday to grab early morning deals and hard-to-find toys like Elmo Live, but many said worries about the economy have them focusing on fewer gifts and less expensive, more practical items. http://www.ibtimes.com/articles/20081128/business-highlights.htm Fri, 28 Nov 2008 18:00:50 EST The British government will take over Royal Bank of Scotland Group PLC with a majority stake of almost 60 percent after the shareholders of the nation's second-largest bank shunned an emergency share issue. http://www.ibtimes.com/data/articleimgs/184173-britain-rbs.jpg http://www.ibtimes.com/articles/20081128/rbs-says-british-government-to-buy-bank-majority.htm http://www.ibtimes.com/articles/20081128/rbs-says-british-government-to-buy-bank-majority.htm Fri, 28 Nov 2008 12:51:41 EST Standard Chartered PLC, Britain's third largest bank, said Monday it plans to raise 1.8 billion pounds ($2.7 billion) in a rights offer to shore up its balance sheet amid the economic downturn. http://www.ibtimes.com/articles/20081124/britains-standard-chartered-to-make-rights-offer.htm Mon, 24 Nov 2008 12:13:45 EST Prime Minister Gordon Brown said Wednesday that further measures may be needed to encourage banks to resume a normal flow of credit to small British businesses and homeowners. http://www.ibtimes.com/articles/20081119/uks-brown-hints-further-steps-to-free-up-credit.htm Wed, 19 Nov 2008 11:30:19 EST Barclays PLC's shares fell 7.5 percent on Wednesday on the growing likelihood that a 7 billion pound ($10.6 billion) fundraising deal, expected to erode shareholder value, will be approved. http://www.ibtimes.com/articles/20081119/barclays-investors-buy-entire-stock-offering.htm Wed, 19 Nov 2008 14:39:41 EST British Treasury chief Alistair Darling warned on Tuesday that any attempts to renegotiate the government's 37 billion pound ($55 billion) bailout of several banks hit by the financial crisis could prove even more costly for shareholders than the current deal. http://www.ibtimes.com/articles/20081118/darling-warns-against-bank-bailout-renegotiation.htm Tue, 18 Nov 2008 13:13:05 EST Barclays PLC moved to appease shareholders Tuesday, saying it will let existing stockholders in on a share issue originally earmarked for private Middle Eastern investors and that it won't pay its top executives any annual bonuses this year. http://www.ibtimes.com/articles/20081118/barclays-lets-shareholders-in-on-mideast-stock.htm Tue, 18 Nov 2008 13:09:58 EST Barclays PLC is coming under increasing pressure over its decision to raise 7 billion pounds ($10.5 billion) from private Middle Eastern investors, with a key advisory group telling shareholders on Monday to vote against the plan. http://www.ibtimes.com/articles/20081117/barclays-under-pressure-over-capital-raising.htm Mon, 17 Nov 2008 13:12:18 EST There is growing skepticism about whether Britain's Barclays bank made the right decision in raising money from Middle Eastern investors rather than the British government to survive the financial crisis. http://www.ibtimes.com/articles/20081114/investor-group-questions-barclays-gulf-cash-deal.htm Fri, 14 Nov 2008 12:05:29 EST Royal Bank of Scotland will cut around 3,000 jobs worldwide over the next several weeks to reduce costs amid the global financial crisis, according to British media reports. http://www.ibtimes.com/articles/20081114/reports-rbs-to-cut-3-000-jobs-globally.htm Fri, 14 Nov 2008 12:10:06 EST The British government summoned banking chiefs Friday to pressure them to pass on recent hefty cuts in benchmark interest rates to hard-pressed homeowners and small businesses. http://www.ibtimes.com/articles/20081107/uk-government-pressures-banks-to-pass-on-rate-cuts.htm Fri, 07 Nov 2008 13:20:39 EST Royal Bank of Scotland Group PLC said Tuesday it could suffer its first ever annual loss this year after it announced more writedowns on bad assets in the third quarter. http://www.ibtimes.com/articles/20081104/rbs-writes-down-1-9-billion-may-post-annual-loss.htm Tue, 04 Nov 2008 15:05:02 EST British Prime Minister Gordon Brown, on a tour of the Gulf, said he is seeking hundreds of billions of dollars to boost the International Monetary Fund's reserves to bail out financially stricken countries. http://www.ibtimes.com/articles/20081101/british-pm-seeking-billions-to-boost-imf-reserves.htm Sat, 01 Nov 2008 23:54:14 EDT Middle Eastern investors will pump up to 7.3 billion pounds ($11.8 billion) into Barclays PLC, allowing the bank to strengthen its balance sheet without resorting to a bailout by the British government. http://www.ibtimes.com/data/articleimgs/168444-obama-2008.jpg http://www.ibtimes.com/articles/20081031/barclays-seeking-7-3-billion-pound-cash-injection.htm http://www.ibtimes.com/articles/20081031/barclays-seeking-7-3-billion-pound-cash-injection.htm Fri, 31 Oct 2008 16:06:48 EDT Barclays PLC, Britain's second largest bank, Tuesday confirmed a report by Cazenove bank that it is close to selling at least 1 billion pounds (US$1.7 billion) worth of bonds backed by the British government. http://www.ibtimes.com/articles/20081021/barclays-close-to-selling-government-backed-bonds.htm Tue, 21 Oct 2008 14:40:07 EDT Chesapeake Energy Corp. said Thursday it has obtained a new bank credit facility that will initially make $460 million available for funding capital expenditures. http://www.ibtimes.com/articles/20081016/chesapeake-energy-gets-facility-for-460m.htm Thu, 16 Oct 2008 12:41:22 EDT Norway's bank guarantee fund has dropped its legal barrier to the sale of troubled Icelandic bank Kaupthing's nearly billion kroner ($162 million) stake in major Norwegian insurer Storebrand ASA to the Royal Bank of Scotland PLC. http://www.ibtimes.com/articles/20081015/norway-allows-sale-of-kaupthing-assets.htm Wed, 15 Oct 2008 06:48:46 EDT