Another Europe News
RBS moves closer to re-privatisation
http://www.euronews.com/ Royal Bank of Scotland has reported stronger underlying profits.
Its operating profit was the equivalent of just over four billion euros last year, the highest since its taxpayer bailout in 2008, but its pretax losses totalled a little over six billion euros.
The closer it get to financial health the greater chance there is for the British government to sell the 82 percent of RBS it owns.
Chief Executive Stephen Hester spoke of “the light at the end of the tunnel” but the prime minister’s office said there was not yet a timetable for a sale.
Britain is considering a range of options for re-privatising the bank including giving shares away or selling shares to the public at a discount.
*Bonuses cut*
The bank paid out 607 million pounds (703 million euros) in bonuses for 2012, down 23 percent from 2011.
RBS has cut about 302 million pounds (350 million euros) from bonuses, clawed back from past awards or to be cut from future payments.
Bankers in Europe will have bonuses capped in future after agreement in Brussels on pay limits to try to curb financial sector excesses.
RBS is also to further reduce the scale and scope of its investment banking business, which was welcomed by UK finance minister George Osborne: “I want to see RBS as a British-based bank, focused on serving British businesses and consumers, with a smaller international investment bank to support that activity rather than to rival it.”
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Another Europe News
National sovereignty equals ‘sending gifts to US and China’, former Italian PM Letta tells Euronews
National sovereignty equals ‘sending gifts to US and China’, former Italian PM Letta tells Euronews
The former Italian prime minister tells Euronews that, to be able to compete with Washington and Beijing, the EU must keep a united front, adding that “the true battle is for European sovereignty”.
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Latest news bulletin | July 5th, 2026 – Morning
Catch up with the most important stories from around Europe and beyond this July 5th, 2026 – latest news, breaking news, World, Business, Entertainment, Politics, Culture, Travel.
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“It’s freedom”: Border residents react to end of Gibraltar-Spain checks
Routine border checks between Spain and Gibraltar have ended, allowing thousands of daily commuters to cross more easily. While many welcome shorter journeys and greater freedom, others remain cautious about the long-term impact.
READ MORE : http://www.euronews.com/2026/07/16/its-freedom-border-residents-react-to-end-of-gibraltar-spain-checks
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Cypriot minister defends appointment of EU Cyprus special representative following backlash
Cypriot minister defends appointment of EU Cyprus special representative following backlash
Cyprus says the EU’s appointment of Raffaele Fitto as special representative for the divided Mediterranean territory will support reunification efforts, but Turkish Cypriot leadership has blasted the move as biased and putting strain on efforts to improve EU-Turkey relations.
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Catch up with the most important stories from around Europe and beyond this July 6th, 2026 – latest news, breaking news, World, Business, Entertainment, Politics, Culture, Travel.
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National sovereignty equals ‘sending gifts to US and China’, former Italian PM Letta tells Euronews
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@shhwinner6663
May 20, 2024 at 5:42 pm
£5.2 billion in losses so far and £700 million in bonuses let this stinking insolvent bank fail already
@shhwinner6663
May 20, 2024 at 5:42 pm
At a massive loss to tax payers