Royal Bank of Scotland will be axing up to 20,000 jobs which is seen as an extremely savage move to bring the bank back into profitability. After the bank made a 28 billion pound sterling loss in 2008, the bank needs to do something drastic quickly to salvage the business, the RBS now as the dubious record as having the biggest loss in UK corporate history. Last week RBS cut 2300 jobs about 2% of the 106,000 workforce in the UK. Why such a big loss? ... Read More

The entire UK economy is in real crisis right now as the Royal Bank of Scotland announced a loss of  £28 billion which records as the biggest loss ever in the history of Britain. Today bank shares crashed and this is mainly due to the said RBS loss. RBS fell by 66 percent or 23.10p to 11.60p, its worst loss since two decades ago. RBS also owns NatWest. Lloyds Banking Group also suffered huge loss as it closed down 33.4p ... Read More