Quantcast

Latest Royal Bank of Scotland Group Stories

2009-06-22 08:53:40

Shareholders and union groups said a lavish pay package promised the Royal Bank of Scotland's chief executive officer shows continued irresponsibility. Although the majority of the bank is owned by the government, the bank has offered CEO Stephen Hester a $15.8 million pay package, including an annual salary of $1.9 million, $3.2 million in potential bonuses and $10.5 million in share options, The Times of London reported Monday. At a time when people are losing their jobs "¦ and...

d1fcc11baeac9f8665ebb870e36876301
2009-06-18 12:14:02

Shamed former Royal Bank of Scotland Chief Executive Officer Fred Goodwin said he would return half his lavish pension plan to pave a move back to Britain. Goodwin's annual pension of $903,000 sparked an uproar when the bank posted a net loss of $39.2 billion a month after he retired in October. Along with a verbal drumming from politicians, vandals smashed windows at Goodwin's home in Edinburgh and damaged his Mercedes. In response, Goodwin and his family fled to the French Riviera, where...

2009-06-11 11:19:20

The Royal Bank of Scotland said it would deny new loans to some borrowers who previously signed contracts that the bank deems unprofitable. An internal memo at the bank instructed mangers to identify noncore loans, which include lending the bank made at 2 percent above the Bank of England's benchmark lending rate. Once identified, new lending to noncore customers will only be provided once the existing debt has been restructured or repriced, the memo says. The memo says, there is no need to...

2009-05-20 09:36:00

ATLANTA, May 20 /PRNewswire/ -- Following the successful completion of its Payment Card Industry Data Security Standard (PCI DSS) assessment, RBS WorldPay has returned to both Visa's and MasterCard's list of PCI DSS Validated Service Providers. RBS WorldPay has successfully validated its compliance with PCI DSS, conducted by Verizon Business/Cybertrust, one of a select group of companies approved by the PCI Security Standards Council as a Qualified Security Assessor (QSA). RBS WorldPay...

2009-05-11 10:18:00

ATLANTA, May 11 /PRNewswire/ -- RBS WorldPay has successfully validated its compliance with PCI DSS, following the completion of its annual Payment Card Industry Data Security Standard (PCI DSS) assessment. RBS WorldPay selected Verizon Business/Cybertrust, one of a select group of companies approved by the PCI Security Standards Council as a Qualified Security Assessor (QSA). Verizon Business/Cybertrust applied its comprehensive security knowledge and expertise to provide a full PCI DSS...

2009-04-08 14:39:12

The Royal Bank of Scotland said it would cut an additional 9,000 jobs, renewing anger over its former chief executive's pension plan and government oversight. Robert MacGregor of the union Unite said the government, which now owns 70 percent of the bank, should stand up for the employees by focusing on jobs, The Times of London reported Wednesday. These employees are blameless for the position RBS is in, yet they are paying for the mistakes at the top of the bank, he said. This bank, which is...

2009-04-03 11:33:59

Angry shareholders gathered for a Royal Bank of Scotland shareholders' meeting Friday prepared to vote no on the bank's controversial remuneration report. The report includes the bank board's agreement to double former Chairman Fred Goodwin's pension to $25 million, which was granted the same weekend in October the bank accepted a massive government bailout deal, The Guardian reported. The meeting was taking place in Gogarburn, Scotland, where RBS has its headquarters. The bank's new Chairman...

2009-03-05 12:09:00

CHICAGO, March 5 /PRNewswire/ -- BlueStar Energy Services, Inc. ("BlueStar"), a retail energy supplier providing electricity and related services to industrial, commercial and residential customers in Illinois, Maryland and Washington, D.C., today announced that it has closed a new secured credit facility. The new financing consists of a senior secured revolving line provided by RBS Citizens, NA ("RBS") and a subordinated mezzanine loan provided by RBC Capital Partners, a division of the...

2009-02-26 13:31:45

The Royal Bank of Scotland has ended its one-year partnership with the Williams Formula One motor racing team, the Scotsman reported. RBS announced it will end its near $29 billion deal (20 billion pounds) with Williams when its contract expires at the end of the 2010 F1 season due to the huge monetary losses suffered by the banking group in other business ventures. It will begin to reduce its sponsorship costs by 25 percent this year. The RBS-Williams partnership began in 2005 and was...

d42a75c87dcb175bac596a24772cfc041
2009-02-26 11:20:39

British Chancellor of the Exchequer Alistair Darling Thursday said a former Royal Bank of Scotland executive should return some of his pension pay. Darling said the government was looking at legal steps it could take to have former Chief Executive Officer Fred Goodwin return some of his $931,000-a-year pension pay, the Financial Times reported Thursday. You cannot justify these excesses, Darling said. In the circumstances in which this bank is now in, do you not think it right that you should...


Word of the Day
conjunto
  • A style of popular dance music originating along the border between Texas and Mexico, characterized by the use of accordion, drums, and 12-string bass guitar and traditionally based on polka, waltz, and bolero rhythms.
The word 'conjunto' comes through Spanish, from Latin coniūnctus, past participle of coniungere, to join together; see conjoin