News

Government adviser reveals his frustration at talk of bank kindness to zombie businesses

What the Sunday papers said

The Independent on Sunday: Water watchdog spends £20m on consultants

The much-criticised water regulator has been accused of costing bill-payers nearly £20m after hiring consultants at the same time that it was pressuring utilities to reduce their prices. Ofwat is said to be badly under-resourced and has asked a team led by the accountancy firm PricewaterhouseCoopers to assess the business plans of the water companies for 2015-20.

The Business Matrix: Monday 02 December 2013

More City jobs available this year

Enter-prize: Host Sue Perkins, left, Independent on Sunday editor Lisa Markwell, right, and Nigel Kershaw, winner of the category sponsored by The IoS

Social Enterprise UK Awards: Prizes for businesses that 'give back'

Awards, sponsored by The IoS, were presented to winners last week

Anthony Hilton: Why should people clean up these messes when they’ll be pilloried for it?

The travel company, Thomas Cook, announced a dramatic surge in profits on Thursday to suggest that it is finally recovering from its near-death experience of a couple of years ago. That was when it was in such a mess it should really have been allowed to go bust.

The valuation of Formula One is being questioned in the High Court case brought by Constantin Medien

RBS ‘careless’ with $2.7bn loan to Formula One

Royal Bank of Scotland (RBS) was “extremely careless” when it lent $2.7bn (£1.7bn) to Formula One motor racing in 2006, the co-chairman of the private-equity firm CVC has told a London court.

City watchdog and taxman tighten the screw on activities at RBS

Investigation ordered into commercial lending as HMRC reviews GRG file

OUTLOOK: RBS investigators are too tied to the establishment to win victims’ trust

Lawrence Tomlinson cuts quite a dash. The swashbuckling racing driver/millionaire tycoon shoots from the hip, and his report on RBS’s treatment of small business was characteristically explosive.

Co-operative Bank loses customers after Paul Flowers scandal

The Co-operative Bank has admitted for the first time it is losing customers after a series of scandals including alleged drug-taking by former chairman Paul Flowers.

City of London police inquiry adds to RBS investigations

As SFO investigate, bank boss pledges to share £1m report with regulators

RBS report author had to blow £2.6m on loan fees... mostly from RBS

The Government adviser who this week issued a scathing report on RBS’s treatment of small businesses could have been speaking from his own experiences. Accounts for Lawrence Tomlinson’s company show he has refinanced his own credit facilities, at great cost, with a consortium led by RBS.

Godfrey Bloom is wrong about speed not causing accidents, but he is right about road fines

The authorities are motivated more by revenue-raising rather than road safety

Osborne offers the Bank of England extra powers to keep the banks in check

George Osborne has asked the Bank of England to review whether it needs extra powers to set and oversee the amount of capital commercial lenders must hold relative to their total assets.

GRG returned just 6% of RBS’s loans to performing portfolios

The bank’s annual report also reveals the unit renegotiated £14.5bn of loans over a year

Royal Bank of Scotland’s controversial Global Restructuring Group demanded that companies falling within its remit stopped paying tax

RBS told customers to stop paying tax

RBS’s effect on firms ‘made me sick’, says Lawrence Tomlinson in report to the Department of Business, Innovation and Skills

RBS hires top law firm to probe claims it forced small businesses into collapse

Law firm will review claims that the bank pushed clients into distress to generate fees

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