Extra capital for UK banks. How not paying tax helps
As Britain’s banks “pad up” their capital ratios, Economics Editor explores if RBS, bailed out by the taxpayer, should be able to use its losses to not pay tax?
After a decade in charge of the Bank of England, at a time of unprecedented financial turmoil, Sir Mervyn King leaves Threadneedle Street for a seat in the House of Lords.
The £2bn payday loans industry is referred for a full-blown investigation by the competition commission over concerns that firms benefit hugely from loans that borrowers can’t pay back on time.
Embarrassing conversations between former executives of Anglo Irish Bank, which was rescued by the taxpayer after running into trouble, are leaked to a Dublin newspaper.
The treatment of Bernard Lockett at the hands of RBS has been described by Banking Commission researchers as amongst the worst they have heard. Watch the full interview with Siobhan Kennedy here.
As Britain’s banks “pad up” their capital ratios, Economics Editor explores if RBS, bailed out by the taxpayer, should be able to use its losses to not pay tax?
The City regulator says Britain’s banks still need to raise £27bn to withstand future shocks. Worst off is the taxpayer-backed Royal Bank of Scotland, which is told it has a gap of £13.6bn to plug.
Senior bankers should be jailed for reckless misconduct, a keenly-awaited parliamentary commission into the collapse of the banking system recommends.
Five years after the financial crisis, a parliamentary commission is recommending that bankers guilty of “reckless misconduct ” could be jailed. What has happened across the world since then?
Chancellor George Osborne gives his annual Mansion House speech in the City of London. Faisal Islam reports on what he has to say about the UK’s banking sector.
A rescue plan for the Co-operative’s troubled banking arm is unveiled in a bid to plug a £1.5bn hole in its balance sheet.
Royal Bank of Scotland is expected to announce 2,000 job losses in the wake of boss Stephen Hester’s plans to stand down after five years at the helm.
RBS Chief Executive Stephen Hester tells Channel 4 News he would have been prepared to take the bank through privatisation, but that “would have been the end of a journey”.
Leaks from the banking commission’s report into the majority state-owned RBS show that a clear split is emerging – not with regard to RBS, but inside the commission itself.
Less than a year ago he was Britain’s top tax official. Now Dave Hartnett is an adviser to Deloitte, a leading accountancy firm involved in the controversy over corporate tax avoidance.
The IMF backs away from its ringing endorsement of UK economic policy. But the Treasury will be relieved that it has not yet spelled out an alternative policy to austerity.