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

As if everything worse is not yet enough, the Royal Bank of Scotland is still about to face more huge losses within this year due to the deteriorating state of the economy. This was according to the chief executive of the institution. This alarming warning from the head of the RBS affirms the big possibility that the lending entity will have to be nationalized anytime in the near future. RBS shares lately plunged to an all time low of 11.6p or 67 ... Read More