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Around 10,000 RBS staff have continued to work in branches, 95 percent of which have remained open, and some offices during the pandemic.
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The taxpayer-backed lender is looking to cut between 80-90 jobs at its US head office in Stamford, Connecticut, following consultation with various employee unions and representatives, one of the sources said.
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The European Commission said the banks formed two cartels to manipulate the spot foreign exchange market for 11 currencies, including the US dollar, the euro and the pound.
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RBS said it expected to be granted licences to be able to continue clearing the payments via its Frankfurt branch in time for Britain's departure on March 29, but it risked a significant hit if that did not happen.
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With Britain and the European Union yet to agree on what their future relationship should look like, McEwan told the BBC that RBS may lose business without a deal.
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It isn’t that digitization of the financial sector has reached a saturation point. Large financial institutions are increasingly looking inwards to meet the demands of the marketplace.
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The Justice Department said the penalty is the largest ever imposed on a bank for misconduct.
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ShareSoc and the UK Shareholders' Association (UKSA) said they had organised more than 100 investors to put forward a proposal for consideration at RBS' annual general meeting (AGM) next year calling for the creation of a committee that includes shareholder representatives.
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Chief Executive Ross McEwan said the bank plans to build-up its Amsterdam unit, acquired after RBS bought ABN Amro in 2008, so that its trading division NatWest Markets can continue to operate smoothly after Brexit.
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The tax payer-backed bank plans to cut jobs within technology in areas including Finance Solutions, Risk Solutions, Natwest Markets Technology and Digital Engineering Services, among others, Unite said in a statement calling the cuts "unjustified".
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RBS, which has not made an annual profit since 2007, booked 6.96 billion pounds (USD8.74 billion) of losses for 2016, against a 1.98 billion pound loss in the same period a year earlier.
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As part of the settlement, announced by the US Department of Justice on Wednesday, the Zurich-based bank acknowledged that home loans it pooled into the securities did not meet underwriting guidelines, with some described by employees as "complete crap" and "[u]tter complete garbage."
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Though the H1-B visa policy is still unclear, expect US President-elect Donald Trump to be business friendly in the long term, says Vishal Sikka, MD and CEO of Infosys.
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The state-controlled British bank said on Monday it had agreed a deal with three of the five investor groups involved in the lawsuit to pay out 800 million pounds (USD 1 billion) to be split across all five of the groups.
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The state-backed lender rushed out a statement following the announcement to say it would take a range of actions, including selling off bad loans and cutting costs to make up the capital shortfall identified by the tests of around 2 billion pounds (USD 2.49 billion).
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The pan-European Stoxx 600 opened 0.13 percent lower with most stocks moving south.
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A US appeals court appeared unlikely on Friday to overturn an order requiring Nomura Holdings Inc and Royal Bank of Scotland Group Plc to pay USD 839 million for making false statements while selling mortgage-backed securities to Fannie Mae and Freddie Mac.
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The claimants' filings allege senior managers were warned by internal risk experts for more than six months that overvalued toxic debt, including subprime mortgage bonds, had left the bank dangerously exposed to a collapse in US property prices.
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The Edinburgh-based bank, more than 70 percent owned by the British taxpayer, reported a loss attributable to shareholders of 469 million pounds (USD 570.7 million), compared with a profit of 952 million pounds in the same period last year.
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The success of the model has pushed the company's market share close to 8 per cent in overall motorcycle segment in India.
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The Silicon Valley company developed the concept, hitherto called "Facebook at Work", two years ago in its London office and has since tested the product on 1,000 companies worldwide.
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Ring-fencing aims to avoid a repeat of the 2008 financial crisis, when banks' bad bets threatened ordinary depositors' cash, leading to big taxpayer-funded bailouts. The rules apply to all banks in Britain that have both retail and commercial or investment banking activities.
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US authorities have accused major banks of misleading investors about the values and quality of complex mortgage-backed securities sold before the 2008 global financial crisis.
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Infosys more likely to grow at 12-13 percent instead of 25-30 percent is the word coming in from Raamdeo Agrawal, Joint MD, Motilal Oswal Financial Services after attending the Infosys analyst call.
