Commercial banks
NatWest has indicated it will consider talks over recommending Bank of Scotland's hostile bid only if the bid is substantially increased, and the bank provides clear explanations of how cost savings would be achieved. This stance comes as a setback to Bank of Scotland's hopes of
Commercial banks
The recent bid by Royal Bank of Scotland (RBS) for National Westminster has sparked a public feud between the two Edinburgh-based clearing banks, with their respective chief executives trading insults and criticisms. The tensions between RBS and Bank of Scotland (BoS) have cooled the normally good relations between the two
Commercial banks
A battle for control of National Westminster Bank is unfolding as Royal Bank of Scotland prepares to table a competing hostile offer to Bank of Scotland's bid. The move comes after weekend talks failed to secure an agreed bid from NatWest's board, with RBS's
Commercial banks
The Bank of Scotland today increased its offer to acquire NatWest in a hostile takeover bid, raising the stakes to almost $28 billion. This new deal includes a special dividend payment to NatWest shareholders, valued at $5 billion, and would result in NatWest shareholders owning 70% of the enlarged banking
Commercial banks
Business Secretary Stephen Byers is set to decide by the end of next week whether to refer Bank of Scotland's (BoS) hostile bid for National Westminster (NatWest) after receiving advice from the Office of Fair Trading (OFT). The OFT has passed its detailed report on the bid to
Commercial banks
Vodafone AirTouch's bid for German telecommunications giant Mannesmann has become a highly anticipated and potentially brutal battle, with stakes as high as e250 per share. Vodafone's chief executive Chris Gent has made it clear that the company needs to be in Europe to achieve Continental dominance,
Commercial banks
The US Nasdaq stock market suffered a rare disruption last week, halting trading for nearly 20 minutes on one of its busiest days. The technical issues affected the exchange's electronic systems, forcing traders to resort to phone and alternate networks to complete transactions. In other news, British Airways
Commercial banks
Bank of Scotland faces a nervous wait this week to discover whether its Pounds 22bn hostile bid for NatWest will be put in jeopardy by a referral to the competition authorities. The Scottish bank also faces the agony of not knowing if or when its closest rival, Royal Bank of
Commercial banks
The merger of Banco Santander and Banco Central Hispano, resulting in Banco Santander Central Hispano (BSCH), has led to speculation about the bank's desire to expand its presence in Europe. With its market value roughly double that of the Royal Bank of Scotland, BSCH is believed to be
Commercial banks
As the banking industry undergoes significant consolidation, financial services consultants are finding new opportunities to diversify their services and adapt to changing market conditions. Expanding into emerging markets such as electronic commerce and providing more sophisticated services to traditional customers are key strategies being employed by consultants to stay ahead.
Commercial banks
Citigroup announced a significant agreement on November 1, 1999, to acquire 19% of Nikko Beans, Inc., forming a strategic alliance with the Tokyo-based firm to offer financial services to consumers via E-commerce. The partnership between Nikko Beans and Citibank aims to provide improved products and services to customers of both
Commercial banks
As the NatWest chairman, Sir David Rowland, navigates the bank's response to Bank of Scotland's hostile takeover bid, he exudes confidence and enthusiasm. Having successfully revitalized Lloyds of London during his tenure as its chairman, Sir David brings a sense of calm and determination to the
