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Former chief executive of Royal Bank of Scotland Fred Goodwin has been stripped of his knighthood.
The Queen made the decision to remove the knighthood on the advice of the forfeiture committee, which advised that Mr. Goodwin had brought the honours system in to disrepute. The knighthood was awarded by the previous Labour government in 2004.
The former chief...
French President Nicolas Sarkozy has announced plans to introduce a 0.1% tax on financial transactions in August, regardless of whether it is implemented in other European countries.
Speaking last night on French television from Paris, Sarkozy said: “What we want to do is provoke a shock, to set an example. There’s no reason why deregulated finance, which brought us to the current situation, can’t participate in the restoration of our...
Royal Bank of Scotland chief executive Stephen Hester has succumbed to enormous political pressure to turn down his bonus worth almost £1m.
The decision followed a weekend of intense controversy around the issue, with Labour promising to force a Commons vote after Prime Minister David Cameron refused to block the bonus.
David Hillman, spokesperson for the Robin...
Last night Royal Bank of Scotland awarded its chief executive Stephen Hester with a bonus worth almost £1m.
The bank said that the bonus of £963,000, which is being paid in shares, was being given to Hester to reward him for the progress he had made in reducing the size of RBS.
The announcement provoked widespread criticism. Liberal Democrat peer...
