Independent Scotland would be too small to rock the pound May 7, 2014 RESEARCH released today suggests that if an independent Scotland kept the pound, its size would give it minimal or no influence over monetary policy. A report published by the National Institute of Economic and Social Research (Niesr) suggests that given the size imbalance between Scotland and the rest of the country, any such arrangement would [...]
Bank of Cyprus gives top job for former RBS man Hourican October 22, 2013 THE BANK of Cyprus appointed ex-RBS investment head John Hourican as its chief executive officer yesterday. Irishman Hourican, who was chief executive of Royal Bank of Scotland’s investment arm from 2008 until earlier in 2013, will have oversight of extensive restructuring at Bank of Cyprus, caught up in the turmoil of an international bailout on the island [...]
RBS closing in on Citizens float October 24, 2013 The Royal Bank of Scotland is expected to name Morgan Stanley as the lead underwriter for a proposed float of its US subsidiary Citizens Financial Group, according to people close to the deal. Under pressure from British regulators RBS said in February that it would sell between 20 per cent and 25 per cent of [...]
S&P fears Scots banks are too like Iceland’s April 23, 2014 AN INDEPENDENT Scotland would join Iceland as the only European governments which could not afford to support their banking systems, analysts at ratings agency Standard and Poor’s warned yesterday. If giant banks like Lloyds and RBS kept their legal registration in Edinburgh, the sector’s assets would amount to more than 1,000 per cent of Scotland’s [...]
RBS suspends traders during foreign exchange investigation October 31, 2013 ROYAL Bank of Scotland (RBS) has suspended two traders in conjunction with an investigation into the potential manipulation of foreign exchange rates. A global probe by US, UK and Swiss regulators is looking into whether banks colluded to set rates. London-based executives at three other major banks have been put on leave, according to reports. [...]
JP Morgan’s top currency dealer on leave October 30, 2013 JP MORGAN has put its chief currency dealer in London on leave, it emerged yesterday, amid an investigation into alleged currency market manipulation. Richard Usher, head of spot G10 currency trading, joined the investment bank from Royal Bank of Scotland in May 2010. He is a full-time employee at JP Morgan and has not been [...]
People’s Postcode Lottery: A gamble where everybody wins December 18, 2014 Players of People’s Postcode Lottery have raised over £56m for charity and they aim to raise even more next year. Fancy your luck this Christmas? Well, deciding to play People’s Postcode Lottery (PPL) isn’t a gamble at all when you know that the money you pay is being used to support some of the UK’s [...]
RBS cuts branch managers in London in latest efficiency drive June 18, 2014 NATWEST has cut more than 200 branch managers across England, Wales and London in a bid to drive costs. The RBS brand previously had five grades of branch manager and has reorganised them into just two grades – those who run big branches and those in charge of smaller sites. It is cutting 361 positions, then [...]
What the other papers say this morning – 02 July 2014 July 1, 2014 FINANCIAL TIMES Facebook faces experiment probe A UK data regulator is investigating whether Facebook broke data protection laws when it allowed researchers to conduct a psychological experiment on users of the social network. The Information Commissioner’s Office said it was probing the experiment and planned to ask Facebook questions after widespread outrage when it was [...]
Business figures get behind Maggie’s campaign July 14, 2014 City figures such as Centrica’s Sam Laidlaw and Gerald Kaye of Helical Bar, have got together to back a £5m scheme to build a new cancer care centre in the centre of the capital’s banking district. The scheme for St Barts Hospital, put forward by charity Maggie’s at Bart’s request, will be presented to the [...]