Press Round-up – February 10

February 10, 2012

RBS pensioners latest victims of cost cutting
Pensioners of Royal Bank of Scotland have become the latest victims of the state-backed lender’s push to cut costs after being informed the annual lunch programme for former staff had been cancelled. (Telegraph)

Press Round-up – February 9

February 9, 2012

Trustees emptied pension funds to gamble on property
Pension experts were appalled on Wednesday when it was disclosed that a company pension fund had been effectively hijacked by its trustees, who sold its conventional assets, geared up the proceeds with bank debt and bet almost the whole lot on speculative property developments. (Times)

Press Round-up – February 8

February 8, 2012

RBS boss says restructuring has cost 38 billion pounds
Stephen Hester has revealed that the dramatic restructuring of Royal Bank of Scotland has cost 38 billion pounds in a rallying memo to staff days after the embattled chief executive waived a 1 million pound bonus. (FT)

Press Round-up – February 7

February 7, 2012

EU corporate defaults set to rise
European corporate defaults are widely expected to climb sharply this year despite the recent improvement in credit market sentiment as bank lending cuts and a deteriorating economic backdrop put many smaller or indebted companies under pressure. (FT)

Press Round-up – February 6

February 6, 2012

Tesco Bank delayed until next year
Tesco Bank has delayed the launch of its current account until next year. Its much vaunted arrival had been regarded as a symbolically important breakthrough in attempts backed by ministers to break up the dominance of the big five established UK banks. (Times)

Press Round-up – February 3

February 3, 2012

BT set to launch “ultra-fast” internet
“Ultra-fast” broadband using direct fibre-optic connections will become available to most British homes and businesses next year, after a significant technological breakthrough by BT, the UK telecoms group. (FT)

Press Round-up – February 2

February 2, 2012

Jefferies confirms Hoare Govett acquisition
Jefferies, the U.S.-based investment bank, on Wednesday confirmed its acquisition of Hoare Govett, the UK broker, from Royal Bank of Scotland. (FT)

Press Round-up – February 1

February 1, 2012

Former RBS boss stripped of knighthood
Sir Fred Goodwin, the former boss of Royal Bank of Scotland, was stripped of his knighthood on Tuesday, in the latest political concession to public anger in Britain over the perceived arrogance of some senior bankers. (FT)

Press Round-up – January 31

January 31, 2012

Below is a round-up of today’s notable stories in Britain’s business press. Click each headline to read the story in full.

Press Round-up – January 30

January 30, 2012

Lloyd’s chief plans management changes
The chief executive of Lloyds Banking Group Antonio Horta-Osorio is set to unveil plans to simplify the bank’s management structure and hand more power to top executives, as he attempts to convince investors he can avoid a relapse of the exhaustion he suffered last year. (FT)
Mining chiefs in secret meeting to halt tax rises
The heads of the world’s biggest mining companies met in secret in Davos last week to discuss ways in which to halt the growing threat of resource nationalism. (Times)