RBS

Royal Bank of Scotland (RBS) chief executive Stephen Hester has revealed the clean-up of the bailed-out bank has so far cost £38m.

Bankers' pay and bonuses should be set by the bank's shareholders, not controlled by legislation, Angela Knight, the chief executive of the British Bankers Association (BBA) has said.

Labour leader Ed Miliband will next week launch an attack on bonus culture in all sectors by calling for a Commons vote on the practice.

Prime minister David Cameron today endorsed the bonus culture in banks whilst under pressure from the Opposition to tackle excessive pay.

Alistair Darling, former Chancellor of the Exchequer, has criticised the move to single out ex-Royal Bank of Scotland (RBS) chief Fred Goodwin by stripping him of his knighthood.

Former RBS chief executive Sir Fred Goodwin has had his knighthood cancelled and annulled by the Queen.

Hector Sants, chief executive of the Financial Services Authority (FSA), said yesterday he was "talked into" applying for the most senior post at the regulator as he apologised for the failure of RBS.

The government has rejected calls to block bonuses for top earners at Royal Bank of Scotland (RBS).

Chancellor George Osborne has described as "sensible" the decision by RBS chief executive Stephen Hester to reject his bonus.

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.