Business World

Monday 24 July 2017

UK hopes RBS will quit asset scheme

BRITISH authorities are still eyeing a potential exit in 2012 of bailed-out lender Royal Bank of Scotland from the Asset Protection Scheme (APS) that was designed to insure RBS's riskiest assets. The Asset Protection Agency (APA), which administers the scheme, said in its interim report yesterday that RBS's departure from the programme this year remained on the cards. "A key role for the APA in 2012 will be to support Her Majesty's Treasury and the Financial Services Authority in their deliberations over RBS's potential exit from the scheme in the course of the year," it said.

Confidence rises in eurozone and EU

BANKING

CONSUMER and business confidence in the eurozone rose in February, although the key services sector suffered a drop, official data showed. A confidence index compiled by the European Commission for the eurozone edged up to 94.4 points from 93.4 points in January, the EU executive said. Across the EU as a whole, confidence of business leaders and consumers gained 1.1 points to an indexed 93.9, according to the data.

Peugeot Citroen to raise €1bn in deal

MOTORING

PEUGEOT Citroen is to raise €1bn through a rights issue as part of a deal to allow US car giant General Motors to take a stake in the group, the 'Wall Street Journal' said. The newspaper cited a source familiar with the talks who said the Peugeot family, which controls 30.3pc of the capital and 45.75pc of voting rights in the firm, intended to take part in the share sale. Earlier, the French business daily 'Les Echos' reported that General Motors was in talks to obtain an interest of 5pc in PSA Peugeot Citroen, France's largest car maker.

Icon agrees to buy PriceSpective

ACQUISITION

ICON has agreed to buy US-based PriceSpective, a global leader in value-strategy consulting. The company said the acquisition would strengthen its expertise in value-based pricing and market access. Icon, which provides services to the pharmaceutical, biotechnology and medical device industries, did not disclose the price it paid.

Irish Independent

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