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George Osborne unveils a quack cure for RBS

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11th November 2015 It was midway between the canon of lamb and the passing of the port that George Osborne rose to his feet. Addressing a room of 350 white-tie wearing bankers, the 44-year-old Chancellor of the Exchequer seemed to have a spring in his step. Just a few weeks earlier, …

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Steve Baker: The government is flying blind on banking

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8th November, 2015 In a stark warning to the government, the MP Steve Baker has said we’re flying blind where RBS and the wider banking system are concerned, as accounts prepared using International Financial Reporting Standards (IFRS) cannot be relied upon. In what was the stand-out contribution to last Thursday’s House of …

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Classic over-reach as Goodwin boasted about RBS’s immensity

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7th November 2015 The FactSheet compiled by RBS’s senior communications executive and deputy chief economist Andrew Wilson in February 2007 pleased his master, the bank’s chief executive, Fred Goodwin, as it put RBS’s financial success in context. But it was also incredibly bombastic and dangerously hubristic Royal Bank of Scotland issued an …

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Punch-up in a brewery as Tennent’s faces legal challenge from “Nordic” beer minnow

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By Ian Fraser Published: Sunday Herald Date: 11 October 2015 London-based drinks business Kolson has accused Glasgow-based Tennent Caledonian Breweries of damaging its business after a contract-brewing deal between the two firms turned sour. Tennent’s owner C&C Group, though, counter claims that Kolson’s actions are simply a “smokescreen” designed to avoid …

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Businesses trashed by RBS ‘vampire unit’ refuse to co-operate with FCA appointed sleuths

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By Ian Fraser Published: Sunday Herald Date: 4 October 2015 Businesspeople who claim to have been ruined by RBS’s Global Restructuring Group are refusing to co-operate with a firm hired by the Financial Conduct Authority to investigate the scandal, potentially derailing the probe into the bank’s so-called “vampire unit”. The …

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CLEANING UP

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By Ian Fraser Published: The Treasurer Date: 1 October 2015 Corruption, scandal and bribery are commonplace in the world, but what action is being taken to eradicate these crimes? And what can treasurers do to avoid them? Ian Fraser reports In September 1977, Sir Richard Dobson made some off-the-cuff remarks …

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Tony Blair slammed as a ‘warmonger’ at Edinburgh event

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21st August 2015 Tony Blair came under fire at the Edinburgh International Book Festival tonight. The former Labour prime minister was branded a “war-monger” and an Israeli shill by emeritus professor at Oxford University Avi Shlaim, with reference to Blair’s failed role as the Quartet’s peace envoy in the Middle East. Slamming the Quartet …

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Libor scapegoat found guilty, sentenced to 14 years

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3rd August, 2015 Cross-posted from Zerohedge (updated) Tom Hayes, the former UBS and Citigroup trader standing trial for his role in the manipulation of Libor, was today found guilty on eight counts of conspiracy to rig the benchmark in a London court, and sentenced to 14 years in prison. The …

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The Moldovan Connection

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By Ian Fraser and Richard Smith Published: Sunday Herald Date: 21 June 2015 How modest homes in some of Scotland’s poorest areas became prolific ‘company factories’. The inside story by Ian Fraser and Richard Smith.  It’s a humble ground-floor flat in Royston Mains Street in Pilton – the Edinburgh housing …