News

Schroders' Richard Buxton remains bullish on the long-term earnings potential in the banking sector after the UK's big-four reported strong profits last week.

AFRICA

The FTSE 100 has fallen sharply this afternoon on news 131,000 jobs were shed in the US last month.

Co-operative Financial Services (CFS) says it is in 'advanced discussions' with a buyer for its IFA business.

The FSA has launched a probe into sales of an AIG bond fund product by RBS' private banking arm Coutts.

Markets are braced for more gloomy news on the western economies with US data expected to confirm a poor outlook for jobs and shaky confidence.

The FTSE 100 opened in positive territory as strong results from majority-nationalised bank RBS crowned off a largely impressive results week for the UK banking sector.

Clive Cowdery's Resolution consolidation vehicle has received 95.5% shareholder take-up of its £2bn rights issue, which will help fund its part acquisition of Axa's UK business.

Russian premier Vladimir Putin has ordered a halt to all exports of wheat and other grains from August 15, raising the stakes dramatically in the crisis over wheat supplies.

The Royal Bank of Scotland Group reported a small £9m net profit over the first half of the year, after recording a £1.14bn pre-tax profit in the six-month period.