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Banking

WireTap 0900 04/05/12

A round-up of the key stories across the specialist financial media, including news that RBS has posted a pre-tax loss of £1.4 billion


RBS on course to repay state loans

Royal Bank of Scotland posted a pre-tax loss of £1.4 billion on Friday as it confirmed it was on the verge of repaying the last of £75 billion of UK government-backed funding it received during the financial crisis.

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Facebook plans to raise $10.6 billion in mega IPO

Facebook Inc aims to raise about $10.6 billion in Silicon Valley''s largest IPO, dwarfing the coming-out parties of tech companies like Google Inc and granting the world''s largest social network a market value close to Amazon.com''s.

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Argentina nationalizes oil company YPF

Argentina''s Congress nationalized the country''s biggest oil company YPF by an overwhelming lower house vote on Thursday that underscored broad popular support for a measure that threatens to scare off foreign investment.

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BNP Paribas profit lifted by stake sale

French bank BNP Paribas SA said on Friday it had completed 80% of a restructuring plan intended to distance the company from Europe''s continuing debt crisis, and posted firmly higher first-quarter net profit.

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BofA talks deal on ex-broker pay

Bank of America has held talks with lawyers for more than 1,000 former Merrill Lynch brokers that could lead to a settlement costing the bank hundreds of millions of dollars, according to people familiar with the matter.

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