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Santander abruptly pulls out of a deal to buy more than 300 branches of Royal Bank of Scotland amid qustions about why the deal fell apart after more than two years.
Taxpayer-owned RBS lost £1.5bn in the first half of the year after an IT meltdown and setting aside funds to compensate customers mis-sold financial products. It now faces fines for Libor rigging.
As RBS chairman Stephen Hester turns down his bonus, a number of UlsterBank, Natwest and RBS customers are still unable to access money after technical problems that began last week.
An ex-employee of RBS warned 18 months ago that outsourcing the company’s computer systems to India would create “enormous risk” at the state-funded bank, Channel 4 News learns.
Sir Mervyn King, the governor of the Bank of England, today used the continuing IT meltdown at RBS and NatWest to criticise the structure of the bailed-out banking group. He had stern words for RBS’s management, saying that the FSA should carry out a “full investigation” of the week-long computer problems.
RBS’s computer meltdown is being blamed on a computer software upgrade. Channel 4 News looks at what appears to be a human error – but one that could affect millions of customers.
RBS boss Stephen Hester says his bank is on the path to recovery after last week’s computer glitch. But he pledges that senior executives, including himself, will be held accountable for the chaos.
Stephen Hester, chief executive of RBS, apologises after a computer glitch at high street bank NatWest leaves hundreds of thousands of customers unable to complete transactions is fixed.
Syrian opposition groups say the army has been shelling the Damascus suburbs of Irbin and Harasta amid reports of several military offensives.
RBS boss Stephen Hester tells Channel 4 News the bank has clawed back bonuses from at least 36 employees this year.
Stephen Hester decides not to take his shares-only bonus of nearly £1m, but is it fair to single him out? Detonating his persona will do nothing to stop another financial crisis, writes Jon Snow.
One day after RBS chief executive Stephen Hester is awarded a £930,00 bonus, it emerges Sir Philip Hampton, the bank’s chairman, is to turn down a share-based bonus worth £1.4m.
Politicians and unions have criticised as “out of touch” the £963,000 bonus package awarded to Royal Bank of Scotland boss Stephen Hester.
As an FSA report into the failure of Royal Bank of Scotland blames its own light-touch regulation and poor management, the bank’s chairman tells Channel 4 News he supports tougher sanctions.
A report into the failure of Royal Bank of Scotland (RBS) by the FSA will blame light-touch regulation and a catalogue of financial errors for pushing it to a taxpayer bailout in 2008.