Private Banking

OYO Founder Ritesh Agarwal start Early Stage VC Fund

OYO Founder Ritesh Agarwal start Early Stage VC Fund

OYO founder Ritesh Agarwal has surely achieved a lot in a short span of time and now he has launched a VC-fund with focus on Indian startups. OYO has been in trouble for quite some time now.

Barclays Wealth launches India operations

Barclays Wealth Barclays Wealth has entered the Indian market by launching its facility in Mumbai on Wednesday. A special ceremony in this regard was attended by cricket legends Kapil Dev, Allan Border and Clive Lloyd, besides company executives.

Barclays Wealth is a leading financial services provider in the world. It would provide private client advisory, succession planning and investment services to well to do people for their wealth management.

Britain's Royal Bank of Scotland expects 2008 full-year losses

LondonRoyal Bank of Scotland - Britain's Royal Bank of Scotland (RBS), which is in line to benefit to the tune of 20 billion pounds (31 billion dollars) from a government bail-out programme, Tuesday unveiled more write- downs and signalled that it expected to make its first annual loss ever in 2008.

The beleaguered Edinburgh-based lender said bad debt charges and write-downs totalled 206 million pounds in the third quarter of 2008, in addition to 5.9 billion pounds in the first half of the year.

Merrill Lynch reports fifth straight quarter of losses

Merrill LynchNew York  - Merrill Lynch reported its fifth straight quarter of losses Thursday as it registered a 5.2-billion-dollar loss for the third quarter of 2008.

Merrill Lynch, which is facing a takeover by the Bank of America, attributed its losses to continued writedowns on bad loans.

The losses reported Thursday compare with third-quarter 2007 losses of 2.2 billion dollars.

Altogether, the bank has suffered losses of 25 billion dollars during the ongoing financial crisis, making it one of the biggest victims worldwide.

Britain's banking revolution to mark end of an era

United KingdomLondon - In Britain, the NICE decade, defined by Bank of England governor Mervyn King as one of "non-inflationary constant expansion" - has come to an end with a bang.

The government bailout of cash-starved banks - the biggest-ever fundraising effort undertaken on behalf of the country's proud banking sector - is seen as the end of an era in the City of London where the free market reigned supreme and regulation was poor.

HSBC launches "HSBC Direct for business" in India