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

Career Services

Day In a Page

Independent Travel
Pompeii, Capri & the Bay of Naples
Dubrovnik, the Dalmatian Coast & Montenegro
Burgundy, the River Rhone & Provence
Lisbon, Oporto and the Douro Valley
Lake Garda, Venice & Verona
Spain
Prices correct as of 23 January 2015
Syria crisis: Celebrities call on David Cameron to take more refugees as one young mother tells of torture by Assad regime

Celebrities call on David Cameron to take more Syrian refugees

One young mother tells of torture by Assad regime
The enemy within: People who hear voices in their heads are being encouraged to talk back – with promising results

The enemy within

People who hear voices in their heads are being encouraged to talk back
'In Auschwitz you got used to anything'

'In Auschwitz you got used to anything'

Survivors of the Nazi concentration camp remember its horror, 70 years on
Autumn/winter menswear 2015: The uniforms that make up modern life come to the fore

Autumn/winter menswear 2015

The uniforms that make up modern life come to the fore
'I'm gay, and plan to fight military homophobia'

'I'm gay, and plan to fight military homophobia'

Army general planning to come out
Iraq invasion 2003: The bloody warnings six wise men gave to Tony Blair as he prepared to launch poorly planned campaign

What the six wise men told Tony Blair

Months before the invasion of Iraq in 2003, experts sought to warn the PM about his plans. Here, four of them recall that day
25 years of The Independent on Sunday: The stories, the writers and the changes over the last quarter of a century

25 years of The Independent on Sunday

The stories, the writers and the changes over the last quarter of a century
Homeless Veterans appeal: 'Really caring is a dangerous emotion in this kind of work'

Homeless Veterans appeal

As head of The Soldiers' Charity, Martin Rutledge has to temper compassion with realism. He tells Chris Green how his Army career prepared him
Wu-Tang Clan and The Sexual Objects offer fans a chance to own the only copies of their latest albums

Smash hit go under the hammer

It's nice to pick up a new record once in a while, but the purchasers of two latest releases can go a step further - by buying the only copy
Geeks who rocked the world: Documentary looks back at origins of the computer-games industry

The geeks who rocked the world

A new documentary looks back at origins of the computer-games industry
Belle & Sebastian interview: Stuart Murdoch reveals how the band is taking a new direction

Belle & Sebastian is taking a new direction

Twenty years ago, Belle & Sebastian was a fey indie band from Glasgow. It still is – except today, as prime mover Stuart Murdoch admits, it has a global cult following, from Hollywood to South Korea
America: Land of the free, home of the political dynasty

America: Land of the free, home of the political dynasty

These days in the US things are pretty much stuck where they are, both in politics and society at large, says Rupert Cornwell
A graphic history of US civil rights – in comic book form

A graphic history of US civil rights – in comic book form

A veteran of the Fifties campaigns is inspiring a new generation of activists
Winston Churchill: the enigma of a British hero

Winston Churchill: the enigma of a British hero

A C Benson called him 'a horrid little fellow', George Orwell would have shot him, but what a giant he seems now, says DJ Taylor
Growing mussels: Precious freshwater shellfish are thriving in a unique green project

Growing mussels

Precious freshwater shellfish are thriving in a unique green project