It is quite remarkable that two of the big stories affecting the UK banking sector this year regard fundraisings in 2008. Royal Bank of Scotland (RBS) has spent close to £1bn to settle with shareholders regarding its rights issue of that year - those investors who bought in were then all but wiped out by a state bailout, with all the opprobrium that came with it for RBS and Lloyds (LLOY).
Accounts of that turbulent time have suggested that top brass at those two lenders had thought their rival Barclays (BARC) would be right there with them. Instead, it managed to raise capital in June and November of that year from Qatari investors. The Serious Fraud Office has this week charged the bank and four former executives in relation to those arrangements.
The initial update is here (the FT has more detail here) and we'll have a fuller analysis of what it means for the stock in this week's issue. Barclays is considering its position, and still waiting to see whether charges will be brought against the bank in respect of the $3bn loan provided to the state of Qatar in November 2008 - aside from the FCA's investigation and those of the US Department of Justice, and US Securities and Exchange Commission.
Elsewhere, click here for a decent first half from RWS Holdings (RWS), which is growing its life sciences translation business in the US and looking to benefit from a rise in patent applications in China.
Currency volatility has provided a boost for hedging specialist Record (REC), having the effect of lifting its majority non-sterling revenues as well as feeding demand for institutions to manage their foreign exchange risk. Click here for our take.
And don't miss our latest Boardroom Talk with the investment manager for Schroder Real Estate Investment Trust (SREI). With another Reit announcing its intention to float on Tuesday (see here), it's been quite a year so far, as I wrote in my latest column (that's here).
You can find me on Twitter @iankmsmith and the team @IChronicle
