Why is RBS still losing money?

  • 24 February 2017
  • From the section Business

When RBS lost £24bn in 2008, my daughter was half way through junior school.

She's now doing her A-levels and RBS is still losing billions.

Next year she'll apply for university - next year RBS will lose another few billion.

Watching RBS develop has not been a very rewarding experience - for anyone.

Taxpayers have seen the £45bn they sank into the bank more than offset by £58bn of losses and counting.

Multiple scandals

Read full article Why is RBS still losing money?

Barclays boss has reasons to be cheerful

  • 23 February 2017
  • From the section Business
Jes Staley

Barclays chief executive Jes Staley was in a good mood this morning - and why not?

After three years of losses, Barclays is back in the black, it will have sold off all its non-essential businesses by June, its capital levels are very close to the point where the banking authorities will let it start paying higher dividends, and interest rates could head upward - a good thing for banks' profit margins. Its shares rose 3% on the news - happy days.

Read full article Barclays boss has reasons to be cheerful

Peugeot boss fails to commit to Vauxhall

  • 23 February 2017
  • From the section Business
Vauxhall sign Image copyright Getty Images

A draft agreement to sell General Motors' European business to PSA, the owner of Peugeot and Citroen, could be signed as early as next week.

The BBC understands that both companies are keen to sign a so-called "statement of intent" before the week Geneva Motor show starts on 6 March to prevent ongoing speculation overshadowing the release of new models.

Read full article Peugeot boss fails to commit to Vauxhall

Unilever stung into action by Kraft

  • 22 February 2017
  • From the section Business
Unilever products Image copyright PA
Image caption Unilever is behind some of Britain's best-known brands

Think of Kraft Heinz's assault on Unilever as a slap in the face for management. It was short-lived, shocking, and will smart for a good while yet.

It's a slap that says "we think we can do a better job for your shareholders than you". That is not a message you want to get lodged in shareholders minds if you are Unilever's management and today the company acknowledged the sting.

Read full article Unilever stung into action by Kraft

Rolls Royce – The good, the bad and the ugly

  • 14 February 2017
  • From the section Business
Rolls-Royce engine Image copyright Getty Images

On the face of it, today's results couldn't be more ugly. A reported loss of £4.6bn is the biggest in the company's 133 year history and one of the biggest UK corporate losses of all time. However, while these results are certainly not good, they are not as ugly as they look.

The results are massively distorted by a whopping hit of £4.4bn thanks to an accounting charge which if you bear with me I can explain.

Read full article Rolls Royce – The good, the bad and the ugly

Co-op Bank running out of options

  • 13 February 2017
  • From the section Business
Co-Op Bank Branch Image copyright Getty Images

After a near death experience in 2013 when Co-op Bank nearly went bust, it has been limping along ever since.

It was kept alive back then when lenders wrote off their debts in return for a stake in the bank, in a so-called debt for equity swap, but it has been unable to earn itself back to health.

Read full article Co-op Bank running out of options

What will the BP board decide to pay Bob Dudley this year?

  • 7 February 2017
  • From the section Business
Bob Dudley Image copyright PA

If BP group chief executive Bob Dudley was paid £14m for delivering a $6.5bn (£5.3bn)* loss last year, what on earth will he get paid for delivering a profit in 2017?

The answer to this will shed a lot of light on the politically current and intense debate around executive pay.

Read full article What will the BP board decide to pay Bob Dudley this year?

Paris tries to seduce the City

  • 6 February 2017
  • From the section Business
The Eiffel Tower is seen in front of the Sacre Coeur Basilica on Montmartre Image copyright Reuters

"When was the last time you thought of taking your partner for a nice weekend in Frankfurt?".

That was one of the more memorable lines of a heavy sales pitch from politicians and business leaders from Paris. A raiding party touched down in London this morning determined to cart off billions in business and tens of thousands of jobs to the French capital in the weeks and months ahead.

Read full article Paris tries to seduce the City

Trump's weapon in trade war

  • 31 January 2017
  • From the section Business
Trump rally Image copyright Getty Images

There is a three letter word that ends in "x" which gets people hot under the collar and is a big part of most relationships.

That word is of course tax.

Read full article Trump's weapon in trade war

Danish drugs giant makes big UK investment

  • 30 January 2017
  • From the section Business
Novo Nordisk headquarters Image copyright Novo Nordisk
Image caption Novo Nordisk is based in Denmark

Denmark's Novo Nordisk is to invest £115m over 10 years in a new science research centre in Oxford.

Eventually employing 100 academics and scientists, the facility will work on new ways of treating type 2 diabetes.

Read full article Danish drugs giant makes big UK investment