Royal Bank of Scotland (RBS) is proposing to cap increases in its final-salary pension scheme, which has been described as a “body blow“ to its 60,000 staff by the Unite union. The union said that against the backdrop of the “bumper” pension paid to former chief executive of the bank, Sir Fred Goodwin, the proposals [...]
Royal Bank of Scotland (RBS), which is almost 70% owned by the taxpayer, is set to spark public outrage again with the news that chief executive, Stephen Hester, is in line for a £9.6 million pay deal. The bank, which is expected to approve the package this week, has also hit the headlines this weekend [...]
Former Royal Bank of Scotland (RBS) chief executive, Sir Fred Goodwin, has given in to public pressure and agreed to hand over £4.7 million of his much-talked about £17 million pension. There has been much hostility towards Sir Fred with regard to his controversial pension entitlement, since he and former ex-chairman of RBS, Sir Tom [...]
It has emerged that Royal Bank of Scotland (RBS) has awarded four of its senior executives a total of £5 million. Earlier this year, bonus packages were the subject to a lot of bad press and sparked outrage among the public when it was banks who are being blamed for the recession. RBS, which is [...]
Ethical banking is proving a popular choice for British savers, with record numbers signing up for accounts at the Co-operative. The bank this week revealed that 123% more people have signed up for its current account this year compared to last year. Customers are coming to the Co-operative, which has an ethical screening policy on [...]
Over 90% of Royal Bank of Scotland (RBS) shareholders have voted against the remuneration policy proposed by the bank’s board at its AGM last Friday in Edinburgh. The vote comes as a huge blow to the already struggling bank, which has been the subject of bad press recently. As a result of the vote, the [...]
Public outrage at the role played by leading bankers in driving the UK economy into the buffers has possibly erupted into violence, with reports that the Edinburgh home of Sir Fred Goodwin, former chief executive of Royal Bank of Scotland (RBS), was attacked in the early hours of this morning. Windows at the property were [...]
Former Royal Bank of Scotland (RBS) chief Sir Fred Goodwin’s pension package is being criticised by the organisation which was set up to oversee taxpayer’s interest in UK banks. John Kingman of the UK Financial Investments (UKFI) said Sir Fred could have been paid off for much less than the £630,000 annual pension that he [...]
The ex-bosses of Royal Bank of Scotland (RBS) and HBOS have apologised “profoundly and unreservedly” for the near-collapse of their banks. Speaking to the Treasury Select Committee, Sir Fred Goodwin, former chief executive of RBS said he “could not be more sorry” for the events that led to the bank’s demise. Furthermore, ex-chairman of RBS, [...]
M&S Money launches 3% cash ISA
M&S Money has launched an Advantage Cash ISA paying 3 per cent, and which allows transfers in from other ISAs. It can be opened with a minimum deposit of £100 lump sum followed by minimum monthly deposits of £25. The 3% rate is variable, but there is no short-term bonus so the return won’t plummet [...]
Google suspends UK Compare Mortgages site
Google has closed its UK mortgage comparison site which it launched in July last year, after it proved to be less popular than expected. Mortgage comparison sites are designed to allow visitors to compare mortgages quickly and easily without having to visit each lender’s individual site. Google was competing with several well-established comparison sites, including [...]
AA launches ‘black-box’ policy for young drivers
The AA is launching an innovative car insurance policy called Drivesafe which could help younger drivers save up to £850 a year. Younger drivers already pay substantially higher premiums than other motorists and these costs are increasing. A new study by Confused.com suggests insurance costs for younger driver have gone up by 5.7 per cent [...]
ATOL scheme updated to protect online bookers
ATOL, a financial protection scheme managed by the Civil Aviation Authority, is being extended to protect up to six million more holidays a year. The scheme ensures that holiday makers do not lose out financially if a travel company collapses, and that they are not stranded abroad. An increase in the number of holidays booked [...]
Home repossessions lowest for four years
The number of UK homes repossessed fell to 36,200 in 2011, significantly below the Council of Mortgage Lenders’ forecast of 40,000, and lower than 2010 when 37,100 homes were repossessed. With interest rates remaining low and lenders adopting a sympathetic attitude to customers in financial difficulty, repossessions fell to their lowest level since 2007. However, [...]
Monthly pay lasting just 17 days
Workers are running out of money just 17 days after receiving their monthly pay, according to new research by the Halifax bank. This means that the average UK worker spends half the month worrying about money. The study, based on the responses of more than 2,000 adults, found that 10 per cent of workers start [...]
Women disadvantaged by auto-enrolment changes
Government proposals to increase the auto-enrolment threshold to £10,000 could put 1.8 million women at risk of missing out on a pension, the TUC has warned. Under the auto-enrolment scheme, which will be phased in from October, private sector employers will automatically enrol workers between the age of 22 years and the state pension age, [...]
Emergency household repairs company Homeserve is taking longer than expected to get back on track after its operations were suspended last October. The company expected customer numbers to fall by 5% this year but it has increased this estimate to 8% and announced the loss of 200 jobs. It estimates that renewal revenue in 2013 [...]
Sale rumoured for Yorkshire and Clydesdale banks
There is growing speculation that National Australia Bank (NAB) may sell Yorkshire Bank and Clydesdale Bank after the Australian parent company announced a strategic review of the two banks’ operations. The Australian economy is performing well and NAB reported strong profits for the final quarter of 2011 but with the UK economy at a virtual [...]
More women experiencing debt difficulties
Women in Debt, which offers female-focused debt advice, has warned that the number of UK women facing serious debt has grown significantly over recent years. The organisation believes that more women will need advice on solving debt problems in the future because they are building up an unsustainable level of indebtedness. Women in Debt’s director, [...]
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