Royal Bank of Scotland's new boss, Ross McEwan, was given a taste of the challenge he faces as the bank's shares slid despite it reporting the first two-successive quarters of profits since its £45bn taxpayer funded bailout.

Britain's "other" state-backed lender, Royal Bank of Scotland, could have a new chief executive in place as soon as today. Talks are under way with regulators to secure approval for the promotion of its head of retail banking, Ross McEwan. He joined RBS, which is 81 per cent owned by the Government, last year.

But Chancellor insists he will not be rushed into returning bank to full public ownership

Outlook: Accountancy’s Big Four have the financial clout and the wherewithal to fight their regulator

Outlook

Outlook

Outlook: An internal candidate like McEwan knows where all the bodies are buried

Has the Competition Commission caved in to one of the more cynical lobbying campaigns conducted in the City of London (and let’s face it the bar is not very high  on this front)?

Financial giant is accused of exploiting rules over metal warehousing in order to manipulate commodity prices