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'Right', Said Fred - RBS Starts ABN Bidding War

ABN AMRO's proposed sale of its US retail bank LaSalle to Bank of America in a deal worth $21bn appeared to be one in the eye for the Royal Bank of Scotland consortium attempting itself to snatch the Dutch bank from Barclays. RBS is thought to have been keen to combine LaSalle with its own US retail banking interests.

BarCap, BlackRock, Citi, Goldman, Morgan Stanley, Nord LB

Bloomberg reports that Barclays Capital is to take up additional office space in London's Canary Wharf financial district. Further proof, if proof were needed, that BarCap boss Bob Diamond and his cohorts are unlikely to be spending much time in Amsterdam - deal or no deal with ABN AMRO.

Report - Up To 4,500 Investment Banking Jobs To Go

Bloomberg reports that although Barclays President Bob Diamond has said that nothing has yet been decided, he has indicated that up to 4,500 investment banking jobs may go once the dust settles and the proposed takeover of Dutch bank ABN AMRO by Barclays is finally signed-off by shareholders.

Bank Mergers - Is Anybody Safe ?

Dutch bank ABN AMRO waved the white flag Monday and confirmed that it had agreed a deal to be taken over by Barclays. Whether Barclays ends up walking away with the prize remains to be seen, but, whatever happens, ABN AMRO is no more.

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