Royal Bank of Scotland and Standard Chartered announce cost-cutting measures; Federal Reserve releases Beige Book today.
The scandal involving alleged manipulation of foreign exchange prices has prompted calls to adjust the timing of the daily 4 p.m. fixing.
Royal Bank of Scotland CEO Stephen Hester, who has called the bank “an emblem of the financial crisis,” is finding it easier to restore the bank to health than to manage the public pressures that come with being 82 percent government-owned.
Privatization looks a long way off for Royal Bank of Scotland with a brewing bonus controversy and the rescinding of former CEO Fred Goodwin’s knighthood.
U.K. bank led by Stephen Hester to abandon equities and M&A to focus its investment bank on fixed-income and currencies.
Jupiter Hotels has bought a portfolio of 24 U.K. hotels from the administrators of Jarvis Hotels.
Aviva Investors has rolled out the Aviva Investors Defined Growth fund.
Sealed Air Corp. has raised $1.5 billion through a two-part sale of senior unsecured notes.
General Motors Financial has issued $900 million worth of automobile receivables-backed securities in seven tranches.
Toronto-Dominion Bank has raised $5 billion through a two-part sale of covered notes in the 144a private placement market.