1. RBS announces a “clean-up” plan in which it puts aside more money for the PPI mis-selling scandal and bad debts. The bank is setting aside $2.2 billion (£1.5 billion), to cover litigation claims in the US relating to various residential mortgage-backed securities. It is also setting aside an extra £500m to cover Payment Protection Insurance (“PPI”) claims.
2. Shares in Apple held steady despite the company reporting its slowest-ever increase in iPhone sales. Shares were up 0.5 per cent in after-hours trading as Apple revealed earnings per share of $3.28 up on expectations of $3.22 per cent. Record overall revenue of $75.9 billion fell short of the $76.6 billion analysts predicted for the three months ending December 26.
3. Shares in leading European technology and chipmaker stocks fell on Wednesday after Apple forecast its first revenue drop in 13 years. ARM Holdings, the British chip designer whose technology powers Apple's iPhone, fell 1.5 per cent to underperform a 0.4 per cent drop on the benchmark FTSE 100 index.
4. British house prices rose at a slower pace than expected in January, although momentum in the housing market looks set to pick up through 2016 as a whole, mortgage lender Nationwide said on Wednesday.
5. Roger Cornick, Aberdeen Asset Management chairman intends to retire as Chairman and non-executive director at end of this financial year on 30 September 2016.
6. HSBC's board meets on Wednesday to consider moving headquarters to Hong Kong. Concerns about China's increasing influence over the financial hub and its independent status may be a factor in the decision, said a senior source at the bank.
7. Santander’s fourth-quarter net profit slumped by 98 per cent, it said on Wednesday. The Spanish bank was hit by mis-selling compensation in Britain and slowing income in Brazil, two of its most important markets.
8. Toyota said it was considering buying out the rest of minivehicle maker Daihatsu, a $3.1 billion deal at current market prices, but denied a report that it was in partnership talks with Daihatsu rival Suzuki Motor Corp.
9. Kevin Weil, former head of product at Twitter, has accepted a similar position at Facebook’s Instagram, according to Bloomberg. Weil was one of four executives to quit Twitter suddenly on January 24.
10. Nearly 300,000 drones have been registered in the US in the last 30 days, the US Federal Aviation Administration (FAA) has revealed. The Federal Aviation Administration is requiring all civilian drone owners to register their devices
