The Royal Bank of Scotland is bracing itself for a further writedown of at
least £5bn on the value of its assets.
RBS is expected to make an announcement to the City in a trading statement
this week, but the writedown could be as large as £7bn,
This morning, the bank said that it was
selling shares at attractive prices to existing shareholders in a rights
issue, expected to raise £10bn.
The bank has already announced writedowns of about £1.7bn on the value of its
mortgage-backed debt packages, loans to private equity groups and other
Does Darwin's theory apply to taxation? Colin ponders...
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states
Accountancy watchdog the FRC has dropped its investigation into the former chief financial officer of Tesco, nearly two years after the supermarket was engulfed in an accounting scandal
Colin imagines how Apple's logo might change in the wake of the EC's ruling over its Irish tax arrangements