RBS looks at stake in Chinese wealth fund
Royal Bank of Scotland may buy a 19.9 per cent stake in Suzhou Trust, which would strengthen the Edinburgh bank’s position in wealth management and securities underwriting in China. It is understood that RBS, which already owns 4.26 per cent of Bank of China, is one of several international companies to approach Suzhou. The trust is planning a capital increase that would bring in international as well as local investors. RBS did not return calls for comment. (Miles Costello)
Centro fears intensify
Shares in Australian-listed Centro Properties Group slumped a further 69 per cent on fears it will not be able to service its debts. The fifth-largest retail property owner and manager in America has lost nearly