Royal Bank of Scotland (RBS) chief Ross McEwan has conceded the 80 percent state-owned bank will pay staff lucrative bonuses from a pool of £421 million, despite the fact it faced losses of £3.5 billion in 2014.
Just as the British government announces the deployment of troops to Ukraine as ‘advisors’, it is rapidly becoming apparent that the average Member of Parliament in the UK is as crooked as Uri Geller’s cutlery.
A whistleblower who worked at a Serco-run immigration detention center alleges the firm turned a blind eye to corruption in the jail, despite evidence staff were smuggling hard drugs into the facility and making a handsome profit in the process.
The Labour Party wants to ban British MPs from working as paid directors or consultants following the “cash for access” scandal, despite a report finding that former Prime Minister Gordon Brown earned nearly £1mn outside Parliament last year.
The US Department of Justice is in the early stages of an investigation into at least 10 international banks—including JPMorgan Chase, Goldman Sachs and Barclays—over alleged manipulation of the precious metals market.
Sir Malcom Rifkind has stepped down as chairman of the Intelligence and Security Committee and resigned as an MP following increasing pressure after he was caught on camera allegedly offering a ‘cash for access’ service to private companies.
Bonuses paid by financial firms since the onslaught of the financial crisis will surpass £100 billion in 2015. Campaigners warn that Britain’s finance sector is continuing to breed inequality, while ordinary taxpayers clean up the mess.
Cameron has defended the decision to suspend Sir Malcom Rifkind following two of Britain’s former foreign secretaries were secretly filmed offering their services to private companies in return for cash.