Bloomberg reported that Britain’s four biggest banks will have eliminated about 189,000 jobs by the end of this year from their peak staffing levels in 2008, bringing employment to a nine-year low.
The Wall Street Journal said that five years after rescuing Royal Bank of Scotland, the British government still hasn’t figured out what to do with it.
International Game Technology entered into an amended and restated credit agreement for a $1 billion, five-year credit facility with The Royal Bank of Scotland as administrative agent and swing line lender.
The Wall Street Journal reported the Bank of England warned UK banks they must come up with $38 billion fresh capital, putting pressure on RBS and Lloyds to step up the pace of asset sales.
The Wall Street Journal reported that Royal Bank of Scotland, 81% owned by the British government, is set to present plans next week to float up to a quarter of its Citizens’ U.S. retail business.