Posts Tagged ‘bonuses’
Northern Rock reports £232m loss
Crisis-torn Northern Rock has today unveiled an underlying loss of £232.4 million for the 2010 year for its so-called “good“ bank. Despite the loss, the Newcastle-based bank will pay more than £13 million in bonuses to its 4,000-strong workforce. The bonus comes despite executive chairman Ron Sandler describing the losses as “disappointing”. He comments: “2010 [...]
RBS posts 2010 loss of £1.13bn
Royal Bank of Scotland (RBS), which is 84% owned by the taxpayer, has today reported a net attributable loss of £1.13 billion for the 2010 year. While the loss is down from the £3.6 billion reported for 2009, it was higher than analysts had expected. The results are also a significant improvement on the £24.1 [...]
Banks pledge to lend £190bn this year
After weeks of tense negotiations, Britain’s largest banks have agreed to lending targets and pay restraints. Chancellor George Osborne today announced that under the so-called Project Merlin, banks will lend around £190 billion to businesses this year – including £76 billion to SMEs. Last year, banks loaned £179 billion to businesses. The four financial institutions [...]
Banking results season kicks off this week
British banks will unveil their first-half profits this week with the five biggest banks expected to reveal they are back in the black.
Banking giant HSBC will kick off the reporting season tomorrow, with Lloyds Banking Group and Standard Chartered announcing their results on Wednesday, Barclays on Thursday and Royal Bank of Scotland (RBS) on Friday.
They [...]
Home Office staff awarded big bonuses
It has emerged that big bonuses are to be awarded to Home Office staff despite the new coalition Government’s public spending cuts.
Speaking before the Commons home affairs committee, Damien Green, Immigration Minister, said the payments to senior officials would total almost £800,000 this year, compared to last year’s bonuses which totalled £1.4 million.
In [...]