bail-out

RBS alerts about risks as UK government demands control of bonuses

December 3, 2009 - 8:15am | Banks and internet banks | News

Royal Bank of Scotland Group Plc warned it could struggle to hire and retain key staff after the UK government demanded control of bonuses as a condition for insuring its bad debts.

Bailed-out RBS, set to become 84 percent state-owned after the latest aid package, detailed the unprecedented direct intervention ahead of a shareholder meeting later this month to vote on its participation in the state-backed Asset Protection Scheme (APS) for toxic loans.

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Auto giants lose their compensation, bosses get their salaries cut

October 23, 2009 - 5:17am | Articles | Figures

The government whacked the compensation of top executives at General Motors Co., Chrysler LLC and their financial arms Thursday.

Kenneth Feinberg, an independent official named to make sure taxpayer money isn't feathering the nests of company bigwigs, also ordered deep cuts for insurance giant AIG and financial houses Bank of America and Citigroup.

In metro Detroit, the order was a sobering reminder of Washington's involvement in the car business.

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Public indignation makes Citi and RBS abstain from buying jets

March 20, 2009 - 6:37am | News | Other themes

Two bailed-out banks, Royal Bank of Scotland (RBS) and Citigroup have cancelled orders for luxury private jets.

Last October, RBS had saved about $45m (£31m) that were planned to be spent for the purchase of a new long-range Falcon 7X, as revealed by the manufacturer, Dassault Aviation, during its annual results report. The jet was being ordered for Sir Fred Goodwin, the former chief executive, and his management team to replace RBS's existing jet, which was put up for sale by new chief Stephen Hester

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