RBS

Royal Bank of Scotland (RBS) boss Stephen Hester is being urged to turn down a £963,000 bonus in shares awarded to him by the bank.

Hargreaves Lansdown shares fell nearly 3% this morning, following an RBS downgrade from 'hold' to 'sell'.

The Royal Bank of Scotland (RBS) today announced its plan to cut 3,500 jobs as part of a reorganisation of its investment bank, which will see the sale or closure of the equities and corporate broking divisions.

Fidelity's Sanjeev Shah has reduced his holding in part-nationalised lender Royal Bank of Scotland (RBS) following a tough year for financials in 2011.

REGULATION

The head of RBS's embattled investment bank is in line to receive a special bonus this year of more than £4m, as the bank begins a sell-off of the division which could threaten 10,000 jobs.

Two of the UK's major tax-payer backed banks are facing three years of further writedowns, according to Barclays Capital analysts.

BONDS

Royal Bank of Scotland (RBS) has appointed Lazard to manage an auction of parts of its investment bank in a move which may lead to as many as 10,000 job cuts.

Economists have warned the Independent Commission on Banking (ICB)'s plans to ringfence UK banks' retail and investment divisions could threaten economic growth.