ROYAL BANK OF SCOTLAND

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Royal Bank of Scotland to cut 3,500 jobs

Royal Bank of Scotland announced thousands of new job cuts on Thursday as the part-nationalised bank continues with its drive to trim costs and improve its profitability.

RBS set for WorldPay sale

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Royal Bank of Scotland is poised to sell its WorldPay arm to private equity firms Advent International and Bain Capital, the latest step in its restructuring plan after a humiliating taxpayer bailout in 2008.
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RBS poised to sell WorldPay

A healthier loan book drove higher second-quarter profits at Royal Bank of Scotland , echoing a pattern set by rivals' results this week, and the bailed-out group said its revival plan was on track.
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Asian stocks fall as yuan euphoria fades

Asian stocks and commodities retreated on Tuesday as wary investors took profits from a rally ignited by China's weekend decision to give its currency more flexibility.
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China unshackles yuan ahead of G20, as promised

China's yuan surged on Monday by the most of any day since its landmark revaluation in 2005, sending a clear signal ahead of this weekend's G20 summit that Beijing is keeping to its word and allowing greater currency flexibility.
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UK's RBS beats expectations with return to profit

Royal Bank of Scotland beat expectations with a return to profit in the first quarter as bad debts continued to shrink, even as investment banking earnings more than halved from its strong start to last year.
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UK's RBS returns to profit in Q1

Royal Bank of Scotland beat expectations with a return to profit in the first quarter as bad debts continued to shrink, even as investment banking profits more than halved after a bumper start to last year.
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Lloyds, RBS face fresh pressure over pay plans

Lloyds and Royal Bank of Scotland could face stormy investor meetings in the next two weeks after a leading governance body urged shareholders to oppose the banks' proposed pay plans.
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RBS kicks off bond restructuring scheme

Royal Bank of Scotland on Tuesday launched its planned bond exchange and buy-back to restructure up to 15.8 billion pounds ($24 billion) of debt, hitting prices of a few lower ranked bonds.
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Wilbur Ross backing Virgin Money in RBS branch bid

Billionaire investor Wilbur Ross said on Sunday he is prepared to commit up to 500 million pounds ($760 million) to support Virgin Money in its bid to buy the branch network of the Royal Bank of Scotland .
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RBS fined for breaching UK competition law

Bailed-out lender Royal Bank of Scotland has been fined 28.6 million pounds ($43 million) for illegally sharing loan pricing details with rival Barclays , Britain's Office of Fair Trading said on Tuesday.
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RBS loss shrinks, calls bad debt peak

Royal Bank of Scotland posted the largest 2009 loss of its European peers but shrank from record-breaking levels, despite a sharp jump in bad debts which it says may now have peaked.
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Stock market recovers as bank shares soar

The U.S. stock market is trading in positive territory in the afternoon session with banks leading the rally after investors shrug off concerns of global tightening.
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FOREX-Dollar keeps broad gains, euro teeters at 7-mth low

The dollar held at its highest levels in six months on Monday, while the euro huddled near seven-month lows on fiscal concerns, and higher yielding currencies remained pressured by the closing of leveraged trades. The Australian dollar hovered at its weakest since mid-December as investors briefly unwound yen-funded carry trades on a report that a UK regulator would like to restrain carry trading generally.
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Dubai World to meet creditor panel on debt crisis

Government-owned Dubai World will meet its main creditors next week to discuss a request to delay payment on $26 billion in debt that has shaken global markets and confidence in the Gulf Arab business hub.

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