ALEX BRUMMER: RBS heads for the exit with a new plan of action to stay afloat after £1.5bn flop
And then there was one. Royal Bank of Scotland has finally cleared a second barrier to returning fully to the public markets with the acceptance by the European Commission (EC) of an £835 million plan to improve the competitiveness of the market for small business loans in Britain.
RBS navigated the first through its US settlement over the sale of mortgage securities.
Having consumed an estimated £1.5 billion in trying and failing to carve out 300 or so Williams & Glyn branches as a separate bank, HM Treasury and EC have agreed an escape route for RBS, as previewed in this space.
It is... read more
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