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RBS in £12bn rights issue

Royal Bank of Scotland Group is launching a £12bn rights issue in a bid to reposition its capital ratios and strengthen its capital base.

The bank says its decision is due to the “severe and increasing deterioration in credit market conditions”.

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Miner to major

Last week was pretty bumpy in the market as we digested the news that the mighty General Electric had faltered in the profit stakes. Speaking, as I was, at a seminar in the Jockey Club after the FTSE 100 Index had had two days of 1 per cent plus swings – first down, then up – it was all too easy to draw racing analogies. But as we have seen on so many occasions recently, a downward spike brings out the bargainhunters. Wednesday last week almost felt like a bull market had returned.

Neptune adds to sales and admin teams

Neptune has added to its sales and fund administration teams with the appointment of Dimitris Zografos, Philip Horton and Neal Gilbert.

‘Rescue bid is too late’

Edeus chief executive Michael Bolton has attacked the Government and the Bank of England for acting too late to avert a full-blown banking crisis.

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