UK stocks cool on Brexit trade fear and China tensions Both major UK stock indices fell on Wednesday on the back of rising China tensions and Brexit trade gloom, with the FTSE 100 down 1%. Both indices dipped on the news that the UK Government was close to ‘giving up hope’ of a Brexit trade…
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Adam Vettese, UK Market Analyst at eToro, has provided his daily commentary on traditional and crypto markets for February 14, 2020. On Thursday on its quarterly earnings call, Chinese technology giant Alibaba set out a multitude of ways in which its business is being impacted by the coronavirus epidemic. CEO Daniel Zhang warned that the…
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The Royal Bank of Scotland (RBS) is taking the unusual action of reimbursing 730,000 customers of the bank for its ill-gotten forex markup gains taken by previous workers in its foreign exchange department at the bank. This particular activity of misconduct was discovered independent of what has been called the greatest FX scandal in history.…
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The real estate market has been already disrupted by blockchain. That is true especially when it comes to real estate companies and startups that are looking for new and innovative ways to boost property sales and expand their markets. Now, some of the world’s largest financial players such as RBS and Barclays are jumping on…
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The Justice Department has announced a $4.9 billion settlement with The Royal Bank of Scotland Group plc (RBS) resolving federal civil claims that RBS misled investors in the underwriting and issuing of residential mortgage-backed securities (RMBS) between 2005 and 2008. The penalty is the largest imposed by the Justice Department for financial crisis-era misconduct at…
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The U.S. Commodity Futures Trading Commission (CFTC) issued an Order filing and settling charges against The Royal Bank of Scotland plc (RBS) for attempted manipulation of the ISDAFIX benchmark and requiring RBS to pay an $85 million civil monetary penalty. The CFTC Order finds that over a five-year period, beginning in January 2007 and continuing…
Read moreOpenFin, the New York and London based fast-growing financial technology provider, today announced that for the first time it is open-sourcing its market-leading HTML5 container technology for financial desktops. The development aims to promote further community collaboration as OpenFin is being used by over 20 of the world's leading banks, buy-side firms and trading platforms. OpenFin…
Read moreChancellor of the Exchequer George Osborne wants to sell the 79% stake that the British taxpayer holds in the bank, however RBS has been asked to pay some of the costs associated with the transaction, a proposal which shareholders will vote on today
Read moreAs a result of public discourse over RBS' 80% ownership by taxpayers following its near-collapse in 2008 after a period of aggressive expansion, RBS is focusing its efforts on home soil, with plans to sell $3 billion worth of stock in Citizens Financial Group, and to pull out of most European, Middle Eastern and Asian markets, with a potential 19,000 jobs to go
Read moreThe conclusion by global regulators in November last year which resulted in six banks paying $4.3 billion in fines for their part in FX benchmark manipulation has not ended the banks' woes as regulatory authorities in the US and UK are now investigating major financial institutions for rigging emerging market currencies
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