Royal Bank of Scotland almost collapsed in 2008 due to poor management, particularly over the ill-fated ABN Amro takeover, and also weak regulation, Britain's financial watchdog said in a report on Monday. The Financial Services Authority , seeking to address what went wrong in the run-up to the lender's vast £45.5-billion ($71-billion, 54-billion-euro) state bailout, said RBS had conducted "inadequate" due diligence into ABN Amro. "The report concludes that RBS's failure amid the systemic...Read Full Story
Royal Bank of Scotland almost collapsed in 2008 due to poor management, particularly over the ill-fated ABN Amro takeover, and also weak regulation, Britain's financial watchdog said in a report on Monday. The Financial Services Authority , seeking to address what went wrong in the run-up to the lender's vast £45.5-billion state bailout, said RBS had conducted "inadequate" due diligence into ABN Amro. "The report concludes that RBS's failure amid the systemic crisis ultimately resulted from...Read Full Story
LONDON ( Reuters ) - Royal Bank of Scotland <RBS.L> gambled with its purchase of Dutch bank ABN Amro and was dragged to the brink of collapse three years ago by poor management decisions and flawed regulation and supervision, a report said on Monday. The long awaited report by Britain's Financial Services Authority , running to 452 pages, criticized former UK Chancellor and Prime Minister Gordon Brown for encouraging "light touch" regulation, and RBS's weak capital and funding and its...Read Full Story
Jan. 12 (Bloomberg) -- Didier Duret, chief investment officer at ABN Amro Private Banking, talks about Europe's debt crisis, its implications for global equity markets and the outlook for the euro. Duret speaks with Rishaad Salamat on Bloomberg Television's "On the Move Asia." (Source: Bloomberg)Read Full Story
AMSTERDAM ( Reuters ) - Nationalized Dutch bank ABN AMRO <ABNNV.UL> is shedding 2,350 jobs - some 9 percent of its workforce - as the state readies it for sale or a listing. The bank said it expected 1,500 redundancies and 850 positions to be lost through natural attrition in the next three to four years. Most of the job cuts will be in back-office operations such as IT, but some retail and private banking positions will also be axed. The bank said it has taken a restructuring provision of...Read Full Story
ROTTERDAM, Netherlands (AP) -Paul-Henri Mathieu fought back from a set down Monday to upset fourth-seeded Feliciano Lopez 4-6, 7-6 (5), 6-4 in the opening round of the ABN Amro World Tennis Tournament. Mathieu, ranked 733 in the world after missing the ...
1909 Willys-Overland is the oldest car seen at the 46th Vintage and Classic car rally in Delhi. Some gleaming beauties added to the charm of a bright and sunny morning in the Capital when they took to the roads for the 46th Vintage and Classic car rally on Sunday.
Hyster Company has lengthened the powertrain warranty of its 3,000- to 19,000-pound lift capacity Fortis cushion and pneumatic-tired trucks to three years or 6,000 hours.
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Some of its subsidiaries have divested their hospital operation and management, in-patient and emergency healthcare services to a newly incorporated subsidiary Fortis Health Management (North) Ltd, the company said in a disclosure to the stock exchanges.
Fortis Healthcare India has posted a 15.18 per cent drop in consolidated net profit for the third quarter ended December 31, 2011 at Rs 29.26 crore. The company had reported a net profit of Rs 34.50 crore in the same period last fiscal. Total income ...
Positively, the company increased its quarterly dividend to C$0.30 from the previous C$0.29. The increase was inline with our estimate but slightly missed the Street's C$1.21 annualized figure. Our 2012/2013 EPS estimates are lowered to C$1.79/C$1.85 (from ...
Fortis Plastics LLC will shutter a Wilmington facility and layoff 119 workers.
The company said the closing will occur by the second week of April, according to a filing with with state of Ohio.
The plant is located at 185 Park Drive.
The news comes on the heels of a tough economic period for Wilmington, situated just 35 miles southeast of Dayton. The city lost about 8,000 jobs after shipping giant DHL in 2008 decided to close its freight...
Fortis is a Dutch-Belgian banking group that is part of a group bidding for ABN Amro. Follow business news about Fortis and share your opinion about the potential ABN Amro deal.
Worldnews.com - BRUSSELS : Belgian-Dutch financial group Fortis on Monday secured overwhelming shareholder approval to raise 13 billion euros (US$18bil) to finance its part of a bid for ABN Amro. The
An international group of many European and US companies operating in the fields of insurance and financial services. Includes list of internet sites for its subsidiaries. [English, French, Dutch]
Fortis ( Euronext : FORA and Euronext : FORB ) is a large banking, insurance, and investment management company. The Benelux are Fortis' home base and its strength.
Fortis may refer to *document management software produced by Westbrook Technologies, Inc., see Westbrook Technologies. *Fortis Inc., a Canadian utility holding company *Fortis Healthcare, Complete ..