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RBS faces a $13 billion fine for its pre-financial crisis behaviour

Royal Bank of Scotland has been warned in a US court that it could face a $13bn (£8.3bn) bill in a case making allegations about its behaviour before the 2008 crisis. The 79% taxpayer-owned bank is fighting a long-running case in a Connecticut...Show More Summary

2008 revisited

IN THE autumn of 2008, Alistair Darling, Britain's finance minister, was told that Royal Bank of Scotland was just two hours from folding, causing cashpoints to run out of money. The same fears motivated the massive rescue programme in America - the bank bailouts, fiscal stimulus and monetary easing by the Federal Reserve. Show More Summary

RBS chief leaves ‘terrible legacy’

The outgoing chairman of the Royal Bank of Scotland has been heavily criticised by shareholders at his final AGM in Edinburgh. ||| London - The outgoing chairman of the Royal Bank of Scotland has been heavily criticised by shareholders at his final annual general meeting in Edinburgh. Show More Summary

RBS shareholders absolutely lost it at the AGM

The Royal Bank of Scotland's AGM was filled with angry shareholders and small business owners that demanded answers from the 81% government-owned bank over a raft of misselling scandals. Earlier this week, outgoing RBS chairman Philip Hampton told the Financial Times: “Most AGMs are a roasting. Show More Summary

Delayed consumer payments processed - RBS

The Royal Bank of Scotland has processed the 600 000 transactions that were delayed this week in its latest payments failure. ||| London - Royal Bank of Scotland Group PLC said it has processed the 600 000 credit- and direct-debit transactions that were delayed this week in the government-owned bank’s latest payments failure. Show More Summary

RBS 'resolves' 600,000 missing customer payments and promises no one will be 'out of pocket'

The Royal Bank of Scotland and its subsidiary Natwest just confirmed that it has returned around 600,000 payments that failed to enter the accounts of RBS customers earlier this week. In a statement sent to Business Insider, an RBS spokesperson...Show More Summary

Customers are furious that RBS and Natwest made their cash disappear — and now the banks are charging them penalty fees

Britons are freaking out over how the Royal Bank of Scotland and its subsidiary Natwest made thousands of customers' pay cheques, welfare payments, and transfers disappear. What makes the situation worse, is that the customers are STILL...Show More Summary

FTSE pulled in opposite directions

Gains in Royal Bank of Scotland shares bolstered Britain's top equity index on Thursday. ||| London - Gains in Royal Bank of Scotland shares bolstered Britain's top equity index on Thursday on news it would be returned to private hands sooner than expected, while Royal Mail stock fell after the government sold half its stake at a discount. Show More Summary

RBS shares rise after news of sale plan

Finance Minister George Osborne says the British government will start selling its shares in the Royal Bank of Scotland. ||| London - Shares in Royal Bank of Scotland rose on Thursday after Britain's Finance Minister George Osborne said the government would start selling its shares in the bank. Show More Summary

RBS' privatisation will cost the British taxpayer around £7 billion

UK Chancellor George Osborne revealed last night that in his annual Mansion House speech that the government will be sell its stake in the Royal Bank of Scotland at possibly a £7 billion ($10.8 billion) loss to the taxpayer. OsborneShow More Summary

UK govt to begin sale of RBS stake

British government says it will soon start divesting its 80% stake in Royal Bank of Scotland.

Britain Expects Initial Losses as It Prepares to Sell Royal Bank of Scotland Holdings

Britain is projected to lose money initially as it begins to sell its 80 percent stake in R.B.S., but George Osborne, chancellor of the Exchequer, suggests taxpayers will ultimately come out ahead.

RBS reassesses its employees in damage control

Royal Bank of Scotland (RBS) was assessing the behaviour of employees at its investment bank and considers cutting bonuses after it took a $669 million (R8.02 billion) fine by US authorities for rigging currency markets. ||| RichardShow More Summary

UK lender faces a $4.5bn tab in lawsuit

Royal Bank of Scotland, Britain’s largest taxpayer-owned lender, could pay as much as $4.5 billion (R53.9bn) to resolve claims of misconduct in its handling of US mortgage securities, according to Bloomberg Intelligence. ||| RichardShow More Summary

More fines in wings for Barclays, RBS

Barclays and Royal Bank of Scotland, which were fined $3 billion (R35.68bn) on Wednesday for rigging currency markets, will have to set aside another £7bn (R129.24bn) for misconduct within two years, JPMorgan Chase said. ||| BARCLAYS...Show More Summary

Open thread for night owls. Democracy Now interviews Matt Taibbi on confessed bank crooks

Matt Taibbi Amy Goodman interviewed Rolling Stone journalist Matt Taibbi on the news that the five banks—Citigroup, JPMorgan Chase, Barclays, Royal Bank of Scotland and UBS—which pleaded guilty to rigging the price of foreign currencies and interest rates were fined more than $5 billion. Show More Summary

Royal Bank of Scotland Fires 3 Employees Amid US Investigation

RBS Chairman Philip Hampton said that the Royal Bank of Scotland fired three employees and suspended two others in an investigation into employee foreign exchange abuses.

Five Major Banks Agree to Plead Guilty to Felony Charges

last monthNews / Crime : FBI News Blog

Agreements by Citicorp, JPMorgan Chase & Co., Barclays PLC, The Royal Bank of Scotland plc, and UBS AG to plead guilty to felony charges were announced today by the FBI, the Department of Justice, and the Commodity Futures Trading Commission during a press conference in Washington, D.C.

Four Banks Plead Guilty To Foreign Exchange Collusion, UBS Pleads Guilty To Wire Fraud

U.S. banking giants Citigroup and JPMorgan Chase and U.K.-base conglomerates Barclays and The Royal Bank of Scotland have agreed to plead guilty antitrust violations stemming from their collusion to manipulate prices in the foreign exchange market over the course of five years, the Department of Justice said on Wednesday.

Banks fined $2.5 billion, to plead guilty to market rigging

Four big banks will pay $2.5 billion in fines and plead guilty to criminally manipulating the global currency markets going back to 2007. JPMorgan Chase, Citigroup, Barclays and The Royal Bank of Scotland...

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