Latest editorial
ROYAL Bank of Scotland (RBS) announced a £153 million loss yesterday as millions of pounds has been set aside to cover customer compensation payments and legal settlements.
RBS has earmarked £1.3 billion for potential lawsuits and customer repayments and a further £459m has been reserved for misconduct and litigation costs.
The bank has already paid out £400m in fines to US and British regulators over the foreign exchange scandal, and was also one of six banks fined a total of around £3bn for failing to stop traders manipulating currency markets last year.
Growing instability in the US economy and financial markets could have serious consequences worldwide because of the central role of the US dollar and financial system, argues MICHAEL BURKE
Government's plan means ‘extra cash for war and overseas interventions, but less for schools and hospitals,’ Unison general secretary Andrea Egan warns
