Scottish news bulletin

All newspaper references refer to Scottish editions. Where there is a link to a newspaper’s website, the relevant page reference is blue and underlined. Economy Building Societies: One of Scotland’s oldest building societies, the Dunfermline…

All newspaper references refer to Scottish editions. Where there is a link to a newspaper’s website, the relevant page reference is blue and underlined. Economy Scotland’s future: Scotland’s economy continues to shrink and there will be further…

RBS: Three big local authority pension funds, including Strathclyde Pension Fund, Scotland’s largest, are planning to sue RBS to try to reclaim some of the money they lost when the bank nearly collapsed last year. They allege that RBS failed to tell…

Recession: Britain is showing signs of slipping into a thirties style recession where families find themselves pushed further and further into the red every month in a "debt deflation trap", according to the Bank of England.

All newspaper references refer to Scottish editions. Where there is a link to a newspaper’s website, the relevant page reference is blue and underlined. Economy Madoff: The Royal Bank of Scotland has revealed losses in the region of £600…

All newspaper references refer to Scottish editions. Where there is a link to a newspaper’s website, the relevant page reference is blue and underlined. Crime Prisoner’s compensation: The UK Government has signalled that it is prepared to make a…

All newspaper references refer to Scottish editions. Where there is a link to a newspaper’s website, the relevant page reference is blue and underlined. Economy The Great Recession: The global economy will be slammed into reverse later this…

Lloyds Banking Group: Pressure was said to be growing last night on the two senior figures at Lloyds Banking Group, Eric Daniels and Sir Victor Blank, to resign as further evidence emerged that the takeover of HBOS had been a disaster.

All newspaper references refer to Scottish editions. Where there is a link to a newspaper’s website, the relevant page reference is blue and underlined. Economy Living Wage: Scotland’s biggest local authority is set to raise the minimum wage…

Interest Rate Cut: The Bank of England have cut interest rates to a record low of 0.5 per cent, the sixth consecutive cut in as many months.

Sir Fred Goodwin: Sir Fred Goodwin’s pension could be decreased under existing laws because he was ‘negligent’ in his business dealings, MPs have been told. Vince Cable, the Liberal Democrat deputy leader said yesterday that a new law may not be needed…

All newspaper references refer to Scottish editions. Where there is a link to a newspaper’s website, the relevant page reference is blue and underlined. Economy Sir Fred Goodwin: Sir Fred Goodwin’s pension could be decreased under existing laws…

PFI criticism: Money which will be lent to PFI projects across the UK to ensure continued development of infrastructure will not reach Scotland warned Jim Murphy, the Scottish Secretary last night. He attributes this to the SNP’s unwillingness to adopt…

All newspaper references refer to Scottish editions. Where there is a link to a newspaper’s website, the relevant page reference is blue and underlined. Economy HBOS: The former HBOS chief executive, Sir James Crosby, reportedly purchased an…

Unemployment: A further 320,000 jobs are set to be lost during the coming 3 months as companies respond to the recession. Business advisors BDO Stoy Hayward also said that companies are streamlining to cope with the downturn in the economy. (Herald page…

All newspaper references refer to Scottish editions. Where there is a link to a newspaper’s website, the relevant page reference is blue and underlined. Economy Sir Fred Goodwin: Following yesterday’s anger at the news of his £690,000 a…

All newspaper references refer to Scottish editions. Where there is a link to a newspaper’s website, the relevant page reference is blue and underlined. Economy Standard Life: Insurance giant Standard Life yesterday announced it would cut 195…

Devolved financial powers: Scottish Labour and the Scottish National Party have both announced that they are in support of borrowing powers for Holyrood after Labour’s formal submission to the Calman Commission yesterday. It is now more likely that the…

RBS: Shares in RBS rose yesterday after its chief executive proposed a radical restructuring of the bank which would see it split into a “good bank” and a “bad bank”. There was speculation that this could provide a model for other crisis-hit banks.

RBS has announced that it will shed a fifth of its global business and return to its banking roots. This shake-up could result in up to 20,000 job losses, though insiders are hopeful that the Scottish workforce will be spared.

National Debt: In the nine months leading up to January, public borrowing grew to a record £67.2bn. UK government statisticians have recalculated Britain’s national debt at £1.5 trillion following the part-privatisation of Royal Bank of Scotland and…

Government and banks may not always have the answer; Peter MacMahon comments on the Treasury Select Committee of last week and the banking crisis.

Banking Bonuses: Chancellor, Alistair Darling, yesterday made a move towards a 90% cut in the bonuses of employees at the Royal Bank of Scotland announcing also that lesser-paid staff will be given a 10% pay-rise to make up for the shortfall in…

Lloyds Banking Group/HBOS: Sir Peter Burt, the last chief executive of Bank of Scotland, has blamed “greed” for the over-expansion of the bank (Herald page 1). Analysts warned that Lloyds Banking Group could lose an additional £16bn. Moody’s Investor…

Lloyds banking group and the Treasury will defy calls for the bank to be nationalised despite the collapse in its shares triggered by bigger than expected losses at HBOS.