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Bankers get one last bonus season before EU cap on payouts

March 20, 2013 19:30
By John O'Donnell BRUSSELS (Reuters) - Bankers in Europe will have one final bonus season before they are barred from awarding themselves payouts worth more than their salary, EU lawmakers agreed on Wednesday, paving the way for the first cap of its kind globally. The cap is designed to address public anger at a bonus-driven culture many European politicians believe encouraged the risk-taking that led to the near-collapse of some of the region's biggest banks.

Royal Bank of Scotland posts 2012 net loss of £5.971 billion

February 28, 2013 04:15
State-rescued Royal Bank of Scotland said Thursday that net losses almost tripled to £5.97 billion in 2012, when it was hit by compensation payouts, Libor rate-rigging fines and a vast accounting charge. The enormous loss after taxation, equivalent to $9.05 billion or 6.89 billion euros, compared with a shortfall of £1.997 billion in 2011, the lender announced in a results statement. It marked the bank's fifth successive annual net loss.

AFP World Economic News Summary

February 6, 2013 10:30
The top world economic stories on Wednesday: Britain-banking-scandal-RBS-Libor-fine LONDON: Royal Bank of Scotland said it had agreed to pay penalties totalling $612 million (453 million euros) to US and British regulators to settle allegations of trying to rig the setting of the key Libor interst rate. Stocks-Japan TOKYO: Tokyo's benchmark Nikkei 225 index soared to the highest close since September 2008, when the global financial crisis was rippling across global equity markets. Finance-public-debt-EU-forex-politics

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February 6, 2013 09:30
FSA SAYS RBS LIBOR MISCONDUCT INCLUDED YEN, SWISS FRANC, DOLLAR SUBMISSIONS FROM JAN 2006-NOV 2010

UPDATE 2-Barclays finance director Lucas, top counsel to retire

February 3, 2013 15:45
* Barclays CFO Lucas, General Counsel Harding to retire * Will only leave when replacements found, likely to be some time * Lucas under investigation for 2008 Qatar fundraising * Lucas says appropriate time "to pass the mantle on" By Steve Slater and Paul Sandle

European shares turn negative as banks, techs slip

January 29, 2013 07:15
LONDON, Jan 29 (Reuters) - European equities turned negative on Tuesday, with Royal Bank of Scotland leading European banks lower after a media report that the British bank was close to a settlement over Libor interest-rate rigging allegations. The market also came under pressure from weaker tech stocks , down 0.5 percent, with Germany's Software AG falling 14.5 percent after saying it expected 2013 earnings per share to be down from the previous year.

Barclays boss tells staff: adopt new values or leave

January 17, 2013 06:30
LONDON, Jan 17 (Reuters) - Barclays' new boss has told staff they should leave if they do not want to sign up to a set of standards aimed at rebuilding the British bank's reputation after a string of scandals. Antony Jenkins, who took over as chief executive at the end of August after the bank was rocked by an interest rate rigging scandal, said bonuses and performance would be assessed against a new "Purpose and Values" blueprint.
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