ROYAL BANK OF SCOTLAND

The ailing bank, which is 73 percent owned by the British government, reported its eighth consecutive year of net loss Friday.

The lender’s annual profits are expected to take a massive hit after it set aside funds to cover litigation costs and wrongful sales.

The deal is part of GE's plan to sell off the about $200 billion worth of assets of its finance arm, GE Capital.

Royal Bank of Scotland is winding down its Greek operation and putting its $5 billion shipping loans portfolio up for sale as the group scales back non-core activities, sources said, according to an exclusive Reuters report.

UBS said its settlement includes a $203 million penalty for pleading guilty to allegations it rigged Libor benchmark interest rates.

S&P said it believed the affected banks had sufficient capital buffers to cope with the charges.

The loss compared with an attributable loss of 9 billion pounds ($14 billion) the previous year.

The regulator said it had handed out the fine for "inadequate systems and controls" at the bank.

RBS said in May it will eliminate hundreds of jobs in the United States over the course of two years.

The 2012 computer systems fiasco cost Ulster Bank 59 million euros ($74 million) in compensation.

It would be the first settlement over allegations of misconduct in the $5.3 trillion-a-day foreign exchange market.

Rival Barclays said on Thursday that it had set aside $800 million. JP Morgan, UBS and Citi have also set aside large sums.

RBS said on Tuesday it also expected losses from bad loans to be "significantly" lower than its previous guidance.

The economic future of an independent Scotland will depend on what happens to its currency, which is still unclear.

Lloyds and RBS, whose registered offices are in Edinburgh, have warned that Scottish independence would pose a big risk to their businesses.

Scottish bank plans to cut its mortgage trading business in the U.S.

Citigroup, Merrill Lynch, RBS, Credit Suisse targeted by Justice Department, sources say.

A Royal Banks Of Scotland report has said that European banks must continue to reduce their balance sheets.

The bailout era CEO says the move is the board's decision but he understands the rationale.

An incoming legislative report turns up the political pressure on UK Chancellor George Osborne, who believes RBS should be fully privatized.

The lender says the job reductions are part of efforts to restructure its retail division's head office and customer-facing positions remain.