Daily News Channel
British banking giant RBS has revealed it expects to make more job cuts and that former chief executive Fred Goodwin is considering taking a voluntary cut in his pension. New chairman Philip Hampton Friday made a strong apology for the bank’s mistakes, which lead to a UK record loss of £24.1 billion ($34.6 billion) for 2008.
HSBC on Monday announced a 62 percent slide in annual pre-tax profits to $9.3 billion, delivering a further blow for the beleaguered UK banking industry. The bank also confirmed it would seek to raise $17.7 billion through a shares issue to bolster its capital strength — a record sum for a British company. Highlighting $15.5 billion losses in its U.S