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Consortium rumoured to be eyeing RBS assets

A private equity consortium is being formed to examine a bid for the Royal Bank of Scotland’s insurance assets, reports claim today.

Several newspaper reports this morning claim the consortium is being set up with a view to launching a bid for Direct Line and Churchill.

Earlier this week RBS estimated that write-downs due to its credit market exposures could peak at £4.3bn after tax this year.

The bank’s AGM statement says: “The board made an assessment of the likely amount of write-downs in 2008 that could result from the further deterioration in credit markets.

“The board based its predictions on sharp deterioration in credit markets during March, but also on our judgment of the steadily worsening economic outlook, and the increasingly clear expectation of investors and of many others that banks should strengthen their capital base.”


Jobs for the boys as brokers suffer

Kevin Paterson takes a weekly peek at the latest developments in the market and brings you what’s hot and what’s not in the world of mortgages

Brokers urged to consider law change

Secured loans packager is urging brokers to reconsider their strategies in line with the Consumer Credit Act changes.

NLA and TBMC team up to offer sourcing system

The National Landlords Association and The Business Mortgage Company are launching a service that all- ows landlords to source buy-to-let mortgage deals.The free service, NLA Mortgages, is designed for investors looking to expand their portfolios or remortgage existing properties.It provides an online sourcing and quotation system plus a free helpline manned by experienced TBMC staff […]

Three catalysts for European equities

By Rob Burnett, Manager of the Neptune European Opportunities Fund In recent weeks, the bear case for European equities has become more pronounced on the back of weaker-than-expected GDP data and deflation concerns. This softening in economic momentum has led some investors to question whether the ECB is behind the curve and indeed whether it […]


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