ROYAL BANK OF SCOTLAND

Asian stocks and commodities retreated on Tuesday as wary investors took profits from a rally ignited by China's weekend decision to give its currency more flexibility.

China's yuan surged on Monday by the most of any day since its landmark revaluation in 2005, sending a clear signal ahead of this weekend's G20 summit that Beijing is keeping to its word and allowing greater currency flexibility.

Following are forecasts by bankers and strategists on the level of expected yuan appreciation after China ditched its peg to the U.S. dollar.

American Express Co has teamed up with UK private equity firm Permira to bid for Royal Bank of Scotland's payment-processing arm, the Financial Times reported in its Monday edition.

Royal Bank of Scotland beat expectations with a return to profit in the first quarter as bad debts continued to shrink, even as investment banking earnings more than halved from its strong start to last year.

Royal Bank of Scotland beat expectations with a return to profit in the first quarter as bad debts continued to shrink, even as investment banking profits more than halved after a bumper start to last year.

Lloyds and Royal Bank of Scotland could face stormy investor meetings in the next two weeks after a leading governance body urged shareholders to oppose the banks' proposed pay plans.

Royal Bank of Scotland on Tuesday launched its planned bond exchange and buy-back to restructure up to 15.8 billion pounds ($24 billion) of debt, hitting prices of a few lower ranked bonds.

Billionaire investor Wilbur Ross said on Sunday he is prepared to commit up to 500 million pounds ($760 million) to support Virgin Money in its bid to buy the branch network of the Royal Bank of Scotland .

Bailed-out lender Royal Bank of Scotland has been fined 28.6 million pounds ($43 million) for illegally sharing loan pricing details with rival Barclays , Britain's Office of Fair Trading said on Tuesday.

From moviemaking to architecture, the shamed and banished CEOs of the 2008 credit crisis have opted for some unusual career paths, either by choice or necessity.

Royal Bank of Scotland posted the largest 2009 loss of its European peers but shrank from record-breaking levels, despite a sharp jump in bad debts which it says may now have peaked.

The U.S. stock market is trading in positive territory in the afternoon session with banks leading the rally after investors shrug off concerns of global tightening.

JPMorgan Chase & Co will buy the non-U.S. assets of commodities joint venture RBS Sempra from Royal Bank of Scotland and Sempra Energy for $1.7 billion cash, roughly doubling its commodities client base.

Britain's Royal Bank of Scotland is in talks with a potential buyer for its Colombian operations, as it pushes ahead with plans to refocus on core businesses.

Kraft Foods Inc on Thursday launched a 4-part, $9.5 billion debt sale to help finance its acquisition of British confectioner Cadbury, IFR reported.

The dollar held at its highest levels in six months on Monday, while the euro huddled near seven-month lows on fiscal concerns, and higher yielding currencies remained pressured by the closing of leveraged trades. The Australian dollar hovered at its weakest since mid-December as investors briefly unwound yen-funded carry trades on a report that a UK regulator would like to restrain carry trading generally.

Three Saudi banks posted fourth-quarter earnings below forecasts, hit by a slowdown in lending growth and higher provisions, with Saudi Hollandi Bank making its first quarterly loss in two years.

Dubai ring-fenced prized assets such as Emirates airline from the $26 billion debt restructuring of Dubai World, denting fragile investor sentiment and raising questions on slated assets.

Government-owned Dubai World will meet its main creditors next week to discuss a request to delay payment on $26 billion in debt that has shaken global markets and confidence in the Gulf Arab business hub.

News, details on corporate bond issues in the European markets on Tuesday: