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.... MoneySavingExpert’s latest ratings, out this week, score Nationwide as next best, followed by Co-op and Santander. Bottom was Royal Bank of Scotland, with Barclays second-worst. ... [Read full article on Guardian ]
Saturday 19th of August 2017 06:00:06 AM
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. Royal Bank of Scotland is preparing to cut nearly 900 IT jobs, union officials have warned, as the bailed-out bank continues to trim costs in its battle to regain profitability. ... [Read full article on Guardian ]
Tuesday 15th of August 2017 02:33:43 PM
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Latest Finance News related to Royal Bank Of Scotland

A free railcard or a £2,000 overdraft? How to pick the best student account image
.... MoneySavingExpert’s latest ratings, out this week, score Nationwide as next best, followed by Co-op and Santander. Bottom was Royal Bank of Scotland, with Barclays second-worst. ...
RBS preparing to cut nearly 900 IT jobs, says union image
Source : Guardian [Read Article] Tuesday 15th of August 2017 02:33:43 PM
. Royal Bank of Scotland is preparing to cut nearly 900 IT jobs, union officials have warned, as the bailed-out bank continues to trim costs in its battle to regain profitability. ...
World's biggest banks face £264bn bill for poor conduct image
Source : Guardian [Read Article] Monday 14th of August 2017 05:28:32 PM
....”. Two UK high street banks – Royal Bank of Scotland and Lloyds Banking Group – are in the top five of banks with the biggest conduct costs. ...
Nationwide sounds note of caution over lending in run-up to Brexit image
Source : Guardian [Read Article] Friday 11th of August 2017 04:06:30 PM
....” There was a one-off £26m gain this quarter and a £100m gain the previous quarter. Garner highlighted the society’s expansion in current accounts, an area traditionally dominated by the big four banks – Lloyds Banking Group, Royal Bank of Scotland, HSBC and Barclays. ...
For the first time ever I am defending banks. Here’s why | John Harris image
.... Morgan Stanley is likely to shed jobs in London by expanding operations in Frankfurt; CitiGroup, Standard Chartered and Nomura Holdings are reportedly opening new offices in the same city. That much-loved public favourite the Royal Bank of Scotland apparently has its sights set on Amsterdam, which is nice. ...
Bank of England to keep animal fat in banknotes despite complaints image
Source : Guardian [Read Article] Thursday 10th of August 2017 10:11:31 AM
.... Mark Carney dipped one of the new plastic fivers in chicken curry at Borough Market in London last year to prove their durability. The news came as Royal Bank of Scotland said it would issue its first polymer £10 note in Scotland. ...
Worldpay takeover deal: not bad, but could have been better | Nils Pratley image
Source : Guardian [Read Article] Wednesday 9th of August 2017 06:27:04 PM
. Worldpay is the payments processor that escaped from the wreckage at Royal Bank of Scotland to become a member of the FTSE 100 index. ...
US firm Vantiv to buy British rival Worldpay for £9.3bn image
Source : Guardian [Read Article] Wednesday 9th of August 2017 01:55:20 PM
....Sir Michael Rake, chairman of BT and former Barclays deputy chairman, will continue at the merged group in the role of lead director, the US equivalent of a senior independent director in the UK. Launched in 1989, Worldpay was previously owned by Royal Bank of Scotland, which sold the business in 2010 to private equity firms Advent and Bain Capital as part of the terms of the bank’s 2008 taxpayer bailout. ...
Alistair Darling: 'RBS said it would run out of money in early afternoon' image
Source : Guardian [Read Article] Wednesday 9th of August 2017 07:59:03 AM
....Alistair Darling has revealed his “most scary moment” of the financial crisis, which began a decade ago. The former Labour chancellor of the exchequer said he received a shocking phone call from Royal Bank of Scotland in 2008, revealing a run on the bank. ...
We let the 2007 financial crisis go to waste | Torsten Bell image
Source : Guardian [Read Article] Wednesday 9th of August 2017 05:00:01 AM
....While British politicians share responsibility for not foreseeing the crisis, they deserve some credit for their immediate response. Alistair Darling and Gordon Brown’s decision to put money into our banks, eventually owning most of the Royal Bank of Scotland, stopped the downward spiral and prompted similar action from other governments, including that of the US. ...
Swiss bank Julius Bär plans expansion in UK with new offices image
Source : Guardian [Read Article] Thursday 3rd of August 2017 06:28:41 PM
....“The typical high net worth individual in the UK is feeling very uncertain about the future in terms of assets, in terms of currency risk, in terms of diversification and in terms of how they should be positioning themselves in this market,” Collardi said. Its wealth test for customers of £2m of assets is double that of some other private banks – Royal Bank of Scotland’s private bank, Coutts, usually demands £1m. ...
Executive wages may have fallen, but the case for pay ratios is even stronger image
....6bn, an offer that shareholders would surely have embraced. RSA had suffered too many calamities in the recent past and the self-help strategy of its chief executive, Stephen Hester, fresh to the job after his Royal Bank of Scotland years, was too young to be trusted. ...
Grocer Booths forced to call in accountants for financial health check image
....Booths, the family-owned upmarket grocer, has been forced to call in accountants to conduct a financial health check of the business after a difficult 18 months. Royal Bank of Scotland and HSBC have drafted in Grant Thornton to conduct an independent bank review of the business, which operates 28 stores across the north of England. ...
BBC women let pay gap happen, review co-chair says image
Source : Guardian [Read Article] Thursday 27th of July 2017 03:18:53 PM
....Hampton is co-chair with Dame Helen Alexander of the Hampton-Alexander review into increasing the number of women at executive level in FTSE 350 companies. He is the non-executive chairman of drugs company GlaxoSmithKline and previously chaired the Royal Bank of Scotland and J Sainsbury. ...
HBOS inquiry: the time for delays is over | Nils Pratley image
Source : Guardian [Read Article] Tuesday 18th of July 2017 06:28:07 PM
.... But, come on, a sense of urgency is required. HBOS’s ill-judged lending spree led to £45bn of bad loans and the bank’s failure was as bad as Royal Bank of Scotland’s. ...
Post-Brexit London is open for business (no matter how grubby) image
Source : Guardian [Read Article] Thursday 13th of July 2017 06:21:05 PM
....Good news: the National Audit Office says the Treasury’s sale of £2. 1bn worth of shares in Royal Bank of Scotland in 2015 was “well planned and organised and represented value for money”. ...
The rehabilitation of RBS is painful, costly – and nowhere near over | Nils Pratley image
....There goes £4. 2bn from our (mostly) state-owned bank, Royal Bank of Scotland, to cover the first of two big settlements with US authorities for mis-selling toxic mortgage bonds in the bad old days. ...
Worldpay shareholders should decline its meek merger deal | Nils Pratley image
.... Worldpay’s chief executive, Philip Jansen, gets to wear the title of co-chief executive but he won’t really be an equal because Vantiv’s Charles Drucker, the co-boss, will also be executive chairman. The shame is that Worldpay, which grew out of Royal Bank of Scotland, ought to be using its domestic strength to be an acquirer itself. ...
Worldpay buyout by Vantiv reignites debate over foreign takeovers image
Source : Guardian [Read Article] Wednesday 5th of July 2017 03:04:35 PM
....Launched in 1989, Worldpay provides the technology that allows retailers and other business to accept card payments and online or mobile transactions. It was previously owned by Royal Bank of Scotland, which sold the business in 2010 to private equity firms Advent and Bain Capital as part of the terms of the bank’s 2008 taxpayer bailout. ...
£8bn battle looms for credit card processor Worldpay as rivals circle image
....5bn and pre-tax profits leaping to £264m from £19m in 2015. Previous owner Royal Bank of Scotland sold the business in 2010 under the terms of the bank’s 2008 British taxpayer bailout, with private equity firms Bain Capital and Advent International taking control. ...
RBS to cut hundreds of UK jobs in move to India image
Source : Guardian [Read Article] Sunday 25th of June 2017 03:48:43 PM
. Royal Bank of Scotland is to cut 443 jobs in Britain as the bank moves its team that arranges loans for small businesses to India. ...
Why is productivity so low since the crisis – particularly in the UK? | Howard Davies image
.... Indeed, arguably they have been factors behind the political upheavals in the US and the UK already. • Sir Howard Davies, the first chairman of the UK’s Financial Services Authority (1997-2003), is chairman of the Royal Bank of Scotland. ...
SFO has clear public interest in pursuing Barclays case | Nils Pratley image
.... It is the notion that the Serious Fraud Office should have let whatever sleeping dogs there might be lie in the Barclays case. This argument holds that, whatever went on with the bank and Qatar in 2008, the UK Treasury avoided having to fund another expensive banking bailout, to sit alongside those at Royal Bank of Scotland and Lloyds TSB. ...
Paul Myners: Barclays realised taxpayer bailout would hit bonuses image
Source : Guardian [Read Article] Tuesday 20th of June 2017 06:01:43 PM
....Barclays has paid out an estimated £18bn in bonuses since 2008, the year it raised almost £12bn to bolster its financial position and avoid a taxpayer bailout. Paul Myners, who was City minister at the time of the 2008 crisis, told BBC Radio 4’s Today Programme that bonus payouts may have been one of the reasons the bank was keen to avoid the taxpayer bailouts that Royal Bank of Scotland and Lloyds Banking Group received. ...
Barclays: who are the four charged bankers? image
Source : Guardian [Read Article] Tuesday 20th of June 2017 02:17:46 PM
....A City gent, who habitually wears high-waisted trousers and red braces, Varley became Barclays’ finance director in 2000 and chief executive in 2004. He lost out to Royal Bank of Scotland in a battle to buy Dutch lender ABN Amro – which turned out to be toxic – but snapped up the US assets of the collapsed Lehman Brothers. ...
Pound recovers after sharp falls as political turmoil hits markets image
Source : Guardian [Read Article] Friday 9th of June 2017 04:46:50 PM
....”. Among the market’s leading fallers were Royal Bank of Scotland and Lloyds Banking Group, housebuilders Taylor Wimpey and Barratt Developments, and retailers Marks & Spencer and Next. ...
Pound sinks but FTSE 100 climbs after shock election result image
Source : Guardian [Read Article] Friday 9th of June 2017 08:22:37 AM
....Sterling fell 2% to $1. 2670 while shares in Lloyds Banking Group were down, along with those in Royal Bank of Scotland and the housebuilders Barratt and Taylor Wimpey. ...
How will the City react to a Tory or Labour general election victory? image
Source : Guardian [Read Article] Thursday 8th of June 2017 09:10:38 AM
.... under Tony Blair’s premiership, the FTSE 100 rallied nearly 50%,” she said. Pledges in the Labour manifesto that energy companies will be taken back into public ownership, the privatisation of Royal Mail will be reversed and a consultation will take place on breaking up Royal Bank of Scotland may rattle the stock market. ...
Santander and RBS haunted by ghost of financial crisis image
Source : Guardian [Read Article] Wednesday 7th of June 2017 06:00:26 PM
. The shadow of the 2008 financial crisis loomed over the banking sector again on Wednesday when a Spanish lender was rescued from collapse by Santander and Royal Bank of Scotland racked up a £1bn bill to end a legal battle sparked by the bailouts by UK taxpayers nearly a decade ago. ...
RBS court case called off but some investors still refuse settlement image
Source : Guardian [Read Article] Wednesday 7th of June 2017 11:58:42 AM
. A high court judge has agreed to call off a landmark case that would have forced the former Royal Bank of Scotland chief executive Fred Goodwin to give evidence, but has left the door open for diehard investors to revive proceedings against the bank next month. ...
General Election result is make or break for investors image
Source : Daily Express [Read Article] Wednesday 7th of June 2017 12:01:00 AM
....Shadow Chancellor John McDonnell’s proposed hike in corporation tax to 26 per cent would hit profits and markets, while tighter regulations could knock bank sector profitability. “Barclays, Lloyds and Royal Bank of Scotland will be under sustained downward pressure”. ...
The Guardian view on the economy: invest for growth | Editorial image
Source : Guardian [Read Article] Tuesday 6th of June 2017 07:08:11 PM
. On the day that former Royal Bank of Scotland boss Fred Goodwin escaped explaining in court how he crashed the business and lost billions of pounds during the 2008 financial crash, it is timely to consider Britain’s post-election economic fortunes. ...
Fred Goodwin escapes high court appearance as RBS settles lawsuit image
Source : Guardian [Read Article] Tuesday 6th of June 2017 11:50:13 AM
. Fred Goodwin has escaped being summoned to the high court to explain his actions during the 2008 financial crisis, after disgruntled shareholders finally reached a settlement with Royal Bank of Scotland. ...
RBS investors urged to settle case with bailed-out bank image
Source : Guardian [Read Article] Monday 29th of May 2017 02:23:52 PM
. Thousands of private investors who claim they were misled by Royal Bank of Scotland and its former chief executive Fred Goodwin into investing in the bank before it was rescued by the taxpayer are being urged to settle their legal case. ...
NatWest CLEARSPEND APP gives growing firms instant spending and budget insights image
....ClearSpend, the first of its kind according to the bank, is aimed at small and medium size enterprises. Currently being tested by 100 firms, NatWest plans to roll it out later this year both to its own customers, Ulster Bank and its parent the Royal Bank of Scotland. ...
Judge expects update on Royal Bank of Scotland settlement negotiations image
. A judge will learn this week if a multimillion-pound settlement has been reached that would keep the former Royal Bank of Scotland chief executive Fred Goodwin from having to appear in court. ...
SFO delays decision again on charging Barclays over 2008 fundraising image
....The events of 2008 have prompted a number of other court cases. Royal Bank of Scotland is attempting to settle claims from shareholders that they were misled during the time of a £12bn cash call in April 2008. ...
RBS shareholders refuse to settle in effort to force Goodwin to take stand image
. A group of “diehard” shareholders determined to see the former Royal Bank of Scotland chief executive Fred Goodwin in court are refusing to accept a settlement in their £700m legal claim against the bank. ...
Is M&S being radical enough as it slips out of fashion? | Nils Pratley image
Source : Guardian [Read Article] Wednesday 24th of May 2017 01:40:53 PM
.... But, unless it does, Berendsen investors should stick with what they’ve got – a company that, in theory, ought to be able to scrub itself up. It would be very funny if Fred Goodwin ends up giving evidence in court only because 9,000 retail investors in Royal Bank of Scotland are too disorganised to agree to the bank’s £200m offer to settle. ...
Talks to avert RBS court case to continue into June image
Source : Guardian [Read Article] Wednesday 24th of May 2017 06:35:03 AM
. Attempts to avert a legal battle that would force the former Royal Bank of Scotland chief executive Fred Goodwin to give evidence in the high court are to continue into next month. ...
Last-ditch RBS talks continue as court is adjourned for a second day image
Source : Guardian [Read Article] Tuesday 23rd of May 2017 08:55:34 AM
. Last-ditch talks are under way to avert a legal battle that would force Royal Bank of Scotland’s disgraced former chief executive Fred Goodwin to give evidence at the high court. ...
Workers 'suffer £200 pay cut' to fund pension deficits image
Source : BBC [Read Article] Monday 22nd of May 2017 07:16:46 AM
....In 2016, UK firms spent roughly £24bn trying to plug their deficits, it said. Among the companies ploughing millions of pounds into their pension schemes were BT, Shell, Tesco, Unilever and Royal Bank of Scotland. ...
RBS offers £200m to avert court case brought by 9,000 investors image
Source : Guardian [Read Article] Monday 22nd of May 2017 07:15:06 AM
. Royal Bank of Scotland is racing to avert a high-profile court case by offering £200m in compensation to thousands of investors who claim they were misled into buying the bank’s shares in the run-up to its taxpayer bailout. ...
RBS court battle with investors adjourned image
Source : BBC [Read Article] Monday 22nd of May 2017 12:12:00 AM
. Legal action brought by 9,000 investors who are seeking compensation from Royal Bank of Scotland after losing money on shares has been adjourned for 24 hours. ...
RBS shareholders take battle over cash call to high court image
Source : Guardian [Read Article] Sunday 21st of May 2017 01:03:31 PM
. A £520m case is scheduled to begin in the high court on Monday that will scrutinise the months leading up to Royal Bank of Scotland’s £45bn bailout at the height of the financial crisis. ...
Car loans, low rates, second mortgages: all the ingredients for a new credit crunch image
.... To add to the pressure, Noel Edmonds, the TV celebrity, is leading the campaign for compensation for the victims of the fraud which took place in the run-up to the financial crisis. This week, Royal Bank of Scotland will be transported back to those calamitous days of 2008. ...
Five minute guide to investing in the UK's big banks image
Source : Daily Express [Read Article] Sunday 21st of May 2017 12:01:00 AM
....However, taxpayers are still well down on another bailout, having spent £45. 8billion buying shares in Royal Bank of Scotland, plus another £11billion on financing costs. ...
Ex-RBS boss Fred Goodwin returns to spotlight in £520m court battle image
.... But next week in London’s high court a £520m legal case will force Fred Goodwin into the limelight. Thousands of shareholders in Royal Bank of Scotland are accusing the institution’s former chief executive – along with three former board colleagues and the bank itself – of misleading them when they bought the bank’s shares in a failed rescue attempt in April 2008. ...
Lloyds claims taxpayers have made £900m profit from bailout image
Source : Guardian [Read Article] Wednesday 17th of May 2017 07:37:15 AM
.... for the degree of risk accepted in providing the support”. As well as Lloyds, the NAO’s assessment included the bailout of Royal Bank of Scotland, the nationalisation of Northern Rock and parts of Bradford & Bingley, and emergency funding schemes. ...
Share sale returns Lloyds to private sector image
Source : BBC [Read Article] Tuesday 16th of May 2017 04:54:38 PM
....At the height of the financial crisis taxpayers owned 43% of Lloyds. Its return to the private sector is in stark contrast with the other bailed-out bank - Royal Bank of Scotland - that is still 73% owned by taxpayers. ...
Final taxpayer shares in Lloyds Banking Group to be sold off image
Source : Guardian [Read Article] Sunday 14th of May 2017 02:28:48 PM
....Eight years after pumping in £20bn to prevent the bank from collapsing, taxpayers will no longer own any shares in an institution that was created in the depths of the financial crisis when Lloyds TSB rescued HBOS. The share sale, in the midst of the general election campaign, will highlight the contrast between the progress of Lloyds and that of Royal Bank of Scotland, which is still 73% owned by the government and has yet to make an annual profit since its bailout. ...
Battle ground image
Source : BBC [Read Article] Sunday 14th of May 2017 01:14:58 AM
....The rest of the government's income comes from a variety of sources. These include interest - for example on student loans; dividends - for example from holdings of Royal Bank of Scotland shares; and profits from assets - including the leasing of 4G mobile licences. ...
Lloyds chief says taxpayer to make £500m on bank rescue image
Source : BBC [Read Article] Thursday 11th of May 2017 04:26:56 PM
....". Lloyds's progress is in marked contrast to Royal Bank of Scotland, which was also bailed out in 2008 at a cost of £45bn. ...
Pearson shareholders reject chief executive's £1.5m pay package image
Source : Guardian [Read Article] Friday 5th of May 2017 01:32:23 PM
....Disgruntled investors expressed their anger at the company’s annual general meeting in London on Friday, with 61% voting to reject the remuneration report and nearly 7% abstaining in the non-binding vote. According to corporate governance group Manifest, the protest was the largest shareholder rebellion at a FTSE100 company since 90% voted against Sir Fred Goodwin’s pension arrangements at Royal Bank of Scotland in 2009. ...
£5 note: Deadline looms for digging out old paper fivers image
Source : BBC [Read Article] Wednesday 3rd of May 2017 11:05:36 PM
....The old paper £5 notes, when withdrawn from circulation, are shredded and turned into compost, according to the Bank of England. A spokesman for the Committee of Scottish Clearing Bankers, which represents Bank of Scotland, Clydesdale Bank and Royal Bank of Scotland, has said: "The paper Scottish fivers are not being withdrawn from circulation, they are just not being reissued. ...
RBS and Lloyds IT faults cause online banking frustrations image
Source : Guardian [Read Article] Friday 28th of April 2017 03:24:55 PM
. Millions of Royal Bank of Scotland and Lloyds Banking Group customers have had difficulty accessing their accounts after the banks suffered IT meltdowns before the long weekend. ...
'Fire sale' risk with Bank capital approach, says Vickers image
Source : BBC [Read Article] Friday 28th of April 2017 02:26:12 PM
.... . During the financial crisis, bad loan losses chewed through banks' capital reserves and lenders including Royal Bank of Scotland and Lloyds had to be given new capital by taxpayers, making them part-nationalised. ...
NatWest and RBS banking app fails image
Source : BBC [Read Article] Friday 28th of April 2017 01:38:23 PM
....A spokesman added that no customer would be left out of pocket. The issue with payments affected only NatWest, not Royal Bank of Scotland or Ulster Bank. ...
RBS reports first quarterly profit since 2015 image
Source : Guardian [Read Article] Friday 28th of April 2017 06:57:09 AM
. Royal Bank of Scotland has reported its first quarterly profit since 2015, as it looks to turn a corner after nine years of losses since its £45bn bailout during the financial crisis. ...
RBS reports first quarter profit as turnaround continues image
Source : BBC [Read Article] Friday 28th of April 2017 06:26:06 AM
. Troubled Royal Bank of Scotland has reported its first quarterly profit since the third quarter of 2015. ...
Will London survive as a financial centre after Brexit? image
Source : Guardian [Read Article] Wednesday 26th of April 2017 07:08:45 AM
.... The next UK prime minister, who just might be May, will need to produce a good answer, or London will not remain at the top of the league for much longer. • Sir Howard Davies, the first chairman of the UK’s Financial Services Authority (1997-2003), is chairman of the Royal Bank of Scotland. ...
NatWest closed my child’s savings account without telling me image
Source : Guardian [Read Article] Wednesday 26th of April 2017 06:00:29 AM
.... I received no notification of this and the bank was unable to provide even basic information as to why the account was closed, or why the funds were not repaid. If I’d not been on the ball, I suspect the lost funds would have simply gone unnoticed! Is the Royal Bank of Scotland so desperate that it needs to take money from a seven-year-old? PL, Hounslow, Middlesex. ...
Lloyds: Taxpayers get all their money back after rescue image
Source : BBC [Read Article] Friday 21st of April 2017 05:01:52 PM
....The government began selling off its stake to investors in 2013, with the final 2% likely to be sold this year. Earlier this week, Mr Hammond hinted that the 72% stake in Royal Bank of Scotland may be sold at a loss. ...
Lloyds bank bailout repaid in full, says Philip Hammond image
Source : Guardian [Read Article] Friday 21st of April 2017 05:00:20 PM
....3bn it ploughed into Lloyds Banking Group during the financial crisis, the chancellor has said. Just days after admitting that the taxpayer faced multibillion-pound losses on its stake in Royal Bank of Scotland, Philip Hammond said the government had now “recovered every penny of its investment in Lloyds”. ...
Virgin Money chief: 'I have battled with mental health all my life' image
Source : Guardian [Read Article] Thursday 20th of April 2017 04:15:42 PM
.... The business started in 1994 when the insurer Norwich Union – her then employer – linked up with Branson’s Virgin Group to launch a savings and pensions product. In 2001, part of Virgin Money was taken over by Royal Bank of Scotland and Gadhia went with it. ...
The hippo at work image
Source : BBC [Read Article] Wednesday 19th of April 2017 11:31:05 PM
...."The recent whistleblowing controversy at UK bank Barclays has brought into sharp focus the importance of creating a corporate culture of openness, where employees feel confident to speak candidly about some of the issues facing the business," he says. Prof Morgan adds that Royal Bank of Scotland's ill-fated decision to buy Dutch bank ABN Amro in 2007 for £50bn may also have been avoided if middle managers at RBS had been given more of a say. ...

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