RBS to pay out £846m over toxic mortgage securities

Royal Bank of Scotland has agreed to pay $1.1 billion (£846 million) to settle two lawsuits in the US over the sale of toxic residential mortgage-backed securities.

Financial 1
For a few years basic account holders at RBS were denied access to rival Link ATMs. Picture: Ian Rutherford

Don’t let basic bank accounts go begging through ignorance

People excluded from financial services now have a legal right to a basic bank account under legislation that took effect last week.

RBS has warned customers to be vigilant. Picture: John Devlin

RBS warning to customers after £30m lost in cyber-scam

RBS customers have been told to stay vigilant after the bank revealed it had lost £27 million in a huge cyber-scam.

Financial 8
Standard Life HQ in Lothian Road. Picture: Neil Hanna

Standard Life to re-open suspended fund

Standard Life Investments (SLI) will re-open its UK Real Estate fund on 17 October having suspended trading in the immediate aftermath of June’s EU referendum.

Scottish currency causes anxiety in other parts of the UK if people are unfamiliar with what it looks like. Picture: Bill Henry

Jane Bradley: Give us credit over Scots’ banknotes

A refusal to recognise currency is down to a simple lack of education writes Jane Bradley

Opinion 6
Jock Millican, left, and Fraser Lusty of Equity Gap. Picture: Contributed

Business angel group Equity Gap flies high

Funding group Equity Gap has claimed the title of Scotland’s most active angel syndicate for the first half of 2016 as it closes in on its first successful investment exit.

Financial 1
RBS has to offload its Williams & Glyn business by the end of next year. Picture: John Devlin

Santander abandons talks to buy 300 RBS branches

Santander has reportedly pulled out of talks to buy more than 300 branches from Royal Bank of Scotland – for the second time.

Financial 2
RBS declined to comment on the reported sale of car parks business NCP. Picture: Jayne Emsley

RBS ‘to offload NCP car parks’ in £500m deal

Royal Bank of Scotland and US private equity firm Blackstone are close to a £500 million deal to offload a group of NCP car parks they co-own, it has been reported.

The FCA said CFO Lending has addressed its 'previous mistakes'. Picture: Contributed

Payday lender to stump up £34m of customer redress

Payday lender CFO Lending is to pay out more than £34 million of redress to more than 97,000 customers for unfair practices.

Financial 1
Is blockchain, the technology behind bitcoin, poised to shake up the financial sector? Picture: Karen Bleier/AFP/Getty Images

Is the finance sector set for a blockchain revolution?

Back in 2008, a paper appeared on the internet under the pseudonym of Satoshi Nakamoto, proposing a “peer-to-peer” electronic cash system dubbed bitcoin.

Tech 2
Standard Life's 1825 arm said it could not reach an agreement with Almary Green. Picture: Neil Hanna

Standard Life advice arm calls off Almary Green takeover

The financial planning division of Standard Life said that talks have broken down over a deal to buy an adviser that looks after about £400 million of assets.

Will investor roadshows now hear pitches on the best household safes to install? Picture: Getty Images/iStockphoto

Bill Jamieson: Taking money off the table and into the safe

What should we worry about most – the vulnerability of equities, or the bursting of the bond bubble?


Bank staff go the distance for children’s foundation

EMPLOYEES from Santander’s branch in Dundee put their fitness to the test as they took part in a walkathon across the 97 mile long West Highland Way and a cyclathon from Arbroath to Dundee and back.

The FCA said former Barclays executive Andrew Tinney should be banned from senior roles in the financial sector. Picture: Danny Lawson/PA

FCA says ex-Barclays executive should be banned

A former top executive of Barclays should be banned from senior roles in financial services after he allegedly covered up a report revealing a “high risk” culture in the bank’s US wealth arm, the City watchdog has ruled.

Financial 1
Clydesdale Bank's owner is to close about 50 more branches in a cost-cutting drive. Picture: Maurice McDonald/PA

Clydesdale Bank owner to axe 50 more branches

The owner of Clydesdale Bank yesterday signalled another 50 branches will close as part of a newly-unveiled £100 million cost-cutting drive to help it post better financial returns faster.

Financial 2
Go Compare is set to float on the London market in the fourth quarter. Picture: Contributed

Esure lines up Go Compare for £470m market listing

Motor insurer esure is to spin off its Go Compare price comparison site and line it up for a stock market listing worth potentially more than £470 million.

Clydesdale owner CYBG floated in February. Picture: Maurice McDonald/PA

Potential £1bn windfall in offing for Clydesdale

Clydesdale Bank is to meet institutional investors in London tomorrow as speculation mounts that it could be in line for an extra £1 billion to spend on investment or dividends.

John Brett succeeds Alec Stewart as chief executive of Anderson Strathern Asset Management. Picture: Stewart Attwood

Anderson Strathern names new asset management boss

Law firm Anderson Strathern has appointed former Aberdeen Asset Management executive John Brett as the new chief of its financial planning arm.

John Nelson said the UK is at the forefront of the specialist insurance market. Picture: John Li/Getty Images

Lloyd’s insurance chief warns over Brexit passporting

Insurance market Lloyd’s of London could be forced to move parts of its business to the EU unless single market access is secured in a post-Brexit Britain, chairman John Nelson has warned.

Financial 21
Standard Lifes investment manager Thomas Moore said his commitment to dividend sustainability and growth will see the trust back to long term winning form. Picture: Neil Hanna

Bill Jamieson: Standard Life’s Tom Moore sticking to his guns

WHAT causes a highly rated equity income fund to slip from top to bottom in the performance tables? And should the manager dump his investment approach or stick with it?

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