Scotland's banking crisis

Scotland's banking crisis

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Legal action gives RBS investors hope over lost billions

THOUSANDS of small investors were last night given hope they would be granted their day in court after a £2.4 billion legal claim was set to be launched against former Royal Bank of Scotland directors, including Fred Goodwin.

David Cameron says £500m RBS bonus pot is ‘unacceptable’

THE Prime Minister has warned Royal Bank of Scotland over bonuses after reports that it intends to reward employees with a share of £500 million.

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‘There can be no question, I am extremely sorry’ – the moment Sir Fred faced shareholders

SECRET footage of Sir Fred Goodwin apologising for the collapse of RBS will be broadcast today in a documentary that also reveals his brutal management style, under which morning meetings came to be known as “morning beatings”.

Fears RBS will need second bail-out

WHITEHALL officials fear the Royal Bank of Scotland could have to be bailed out for a second time as part of efforts to recapitalise the crisis-hit banking sector in Europe.

Bankers' attitude to public concerns slammed

Britain's banks have been accused of continuing to treat disgruntled customers unfairly - despite a crackdown on poor handling of complaints.

Sketch: Balls fails to land knockout blow and gets hurt himself

IF GORDON Brown was famous for his clunking fist, the knuckledusters often used were known to many victims as Ed Balls.

Analysis: Policy is incoherent and potentially dangerous

THE government's policy on the banking levy is incoherent. According to the Treasury, the levy is designed to ensure banks pay the social costs of their failure: in other words, the levy should compensate taxpayers for the cost of bailouts.

Magic touch: The Project Merlin talks

THE Project Merlin talks - thought to be named after the legednary wizard - have centred on the government's attempts to persuade the banks not to pay out huge bonuses at a time when the rest of the country is suffering the results of budget cuts and pay freezes.

George Osborne riles big banks with £800m tax hike

"LIVID" banking chiefs have accused Chancellor George Osborne of "changing the goal posts" on taxation, after he increased his levy on the banks by £800 million to £2.5 billion.

Bankers' bonuses set to hit £6bn as David Cameron backs off

PRIME Minister David Cameron has ruled out measures to curb bankers' bonuses if they would cause friction with banks, prompting accusations the government is "unable or unwilling" to take action on excessive incentives in the industry.

Scots Lib Dem leader says 'block RBS chief's bonus'

THE coalition government has been urged to use all its available powers to block massive bank bonuses, after reports that Royal Bank of Scotland chief executive Stephen Hester is in line for a £2.5 million pay-out this year on top of his salary.

RBS 'planning £50,000 cap' on cash bonuses for bankers

RBS and UK Financial Investments (UKFI) are reported to be discussing putting a £50,000 cap on cash bonuses paid to banking staff.

Government could have hit banks with tougher toxic asset charges

THE government did not set fees high enough for the giant toxic asset insurance scheme for bailed-out banks, it has been claimed.

RBS: Bank's 'poster boy' closes his account after loan snub

Printers John Watson of Glasgow have been entrusting their finances to RBS since of 1824 when the country's economy was going through enormous transformation.

RBS backs down and agrees to come clean on financial downfall

RBS last night bowed to political and shareholder pressure and said that it would co-operate with the UK's financial watchdog to publish a report into the mistakes of the Sir Fred Goodwin era.

Taxpayer may never get back billions pumped into banks

THE UK government may never claw back the taxpayer funds ploughed into Royal Bank of Scotland and Lloyds Banking Group, a report from the National Audit Office (NAO) warns today.

Analysis: It's time we learned lesson of history

IT TOOK four years after the Wall Street crash in 1929 for people to realise the surest way to protect the banking system was to split retail banking from other areas of finance.

Banks too big, says peer who helped create Lloyds colossus

THE former City minister Lord Myners has called on the big banks to be broken up, complaining that they have become too monolithic and are damaging the market.

Banking commission faces key questions

Chancellor George Osborne announced the creation of the Independent Commission on Banking in June.

Alistair Darling: 'Don't break up Scottish banks'

SCOTLAND's economy will face "disastrous" consequences if the UK's major banks are broken up as part of a shake-up of the country's financial sector, former Chancellor Alistair Darling warns today.

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