News

City hopes of an early a sell-off of the taxpayer’s stake in Royal Bank of Scotland were dealt a massive blow today as its finance director, Nathan Bostock, was poached by rival Santander UK.

Pym to be chair of Northern Rock bad bank

Richard Pym has been appointed as chairman of Northern Rock's "bad bank". He was chief executive of Alliance & Leicester between 2002 and 2007 and is chairman of Bradford & Bingley, another nationalised bank.

The bank charges ruling explained

What did the Supreme Court rule?

Civil servants will lead hunt to find new chairman for nationalised bank agency

The Treasury is carrying out its own search to find the new chairman for UKFI, the government agency which overseas the shareholdings in the UK's banks, Royal Bank of Scotland and Lloyds Banking Group.

£325bn: Taxpayers' exposure to RBS losses

The Government agreed yesterday to inject up to £25.5bn of extra capital into Royal Bank of Scotland as part of its plan to insure the stricken banking giant against future losses.

Abbey National profits up by a fifth

Spanish-owned Abbey National provided some rare good news in the embattled banking sector today as it said annual pre-tax profits lifted by more than a fifth to £991 million.

RBS set to admit massive losses on toxic investments

Lloyds reluctant to give state a majority holding

Brian Viner: 'What, some might ask, is so awful about filling in forms? Where do I start...'

Home And Away: "The forms, the forms!" I wailed, in the manner of Charles Laughton in The Hunchback of Notre Dame

Pandora: Murdoch matriarch's sideswipe at Wendi

Rupert Murdoch's 99-year-old mother, Dame Elisabeth, might strike you as a harmless old dear, but that hasn't stopped her from planting a right hook on her icy daughter-in-law Wendi Deng.

Questions of Cash: 'I got stung by the B&B rescue. Can I sue?'

Q. I am one of many Bradford & Bingley shareholders who have lost out through the company's nationalisation. I received 250 free shares, and when asked to contribute to the rights issue paid nearly £200, only to see it wiped out in the nationalisation two months later. I am unhappy with the behaviour of the directors and auditors responsible for the rights issue. The rights issue was made on the basis that the company was a going concern. But it now seems it was not a going concern at the date of the rights issue. The public does not have the same access to information as the directors and auditors, and we could not make a reasonable judgement on the value of the shares. Do shareholders have a valid claim against the directors and auditors? CM, by email.

Santander shares slip as it announces €7.2bn rights issue

Santander, the Spanish bank that owns Abbey National, Alliance & Leicester and Bradford & Bingley's British savings business, bowed to economic pressure yesterday and announced a €7.2bn (£5.9bn) rights issue.

Terence Blacker: Driven to despair as I wander in the seventh circle of call-centre hell

They are usually polite. They introduce themselves by their first names, and address you by yours. They assure you at every opportunity that they are there to help you. Then they take you into a nightmare world where all normal standards of behaviour are reversed and nothing is quite what it seems.

Alan Watkins: Brown's control of the crisis is illusory

The Prime Minister has run an effective PR campaign, but he has little real idea of how to regulate the banks

Barclaycard finded £50,000 for silent calls

Ofcom today fined Barclaycard £50,000 for breaching rules on silent and abandoned calls, the regulator announced.

Santander fury about deal to secure Lloyds 'HBOS takeover

Banco Santander, the owner of Abbey, is said to be furious about the Government's decision to waive competition rules for Lloyds TSB's £12bn takeover of Halifax Bank of Scotland. Spain's biggest bank has agreed to buy Alliance & Leicester but would have considered a bid for HBOS instead if it had known the deal might be allowed.

RBS appoints heavyweight bankers to appease critics

Royal Bank of Scotland's appointment of three banking heavyweights to its non-executive board looks to have appeased critics angered by the bank's losses this year. Some analysts have warned, however, that it is only one step in the right direction.

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