The Royal Bank of Scotland (RBS), a United Kingdom banking group, has reached an agreement with USA lawmakers to pay $4.9 billion to settle an investigation into its U.S. mortgage bond services. However, the agreement that was disclosed by the US government and RBS conjointly this Thursday, is reported to be absolutely civil in nature, with a clear indication of no criminal charges in the near future.
The taxpayer-backed lender said the penalty with the US Department of Justice (DoJ) was a "milestone" for the group, ending a long-running probe and paving the way for the Government to relaunch plans to sell its 72 per cent stake in the bank.
"The number is a firm number", finance director Stevenson said.
RBS said 3.46 billion USA dollars (£2.5 billion) of the proposed civil settlement will be covered by existing provisions and the bank will take a 1.44 billion U.S. dollar (£1.1 billion) hit in its second quarter results.
The Royal Bank of Scotland (RBS) has been fined nearly $5bn by the US Department of Justice (DoJ) relating to its role in the subprime crisis.
The widening of the appeal process shows RBS still grappling to deal with past misconduct issues on the same day it reached a $5 billion settlement with US authorities over its sale of mortgage bonds.
McCain urges Senate to reject Haspel's nomination
Wednesday morning, lawmakers asked Haspel if she would allow the agency to waterboard suspects again if the president ordered it. She appeared to find it shortly after the hearing when Democrat Joe Manchin said he would support her.
The prospect of a heavy fine by USA authorities made the government reluctant to sell shares in the bank bailed out by United Kingdom tax payers after the 2008 financial crisis. The British government announced in November that it planned to sell off £3 billion ($4.07 billion) worth of RBS shares in the 2018-2019 fiscal year and it looks as if those plans will now go ahead. Big shots of the bank seem to be highly positive about the deal, claiming it to be a "milestone".
The US Department of Justice said further details must be negotiated with RBS before a final deal is done. He described a new policy in which USA prosecutors will work closely with their counterparts in other enforcement agencies to coordinate penalties, with the Justice Department adjusting its assessments to account for other fines.
However, one of the bank's largest 20 investors said shareholders should be cautious about the prospects of getting their hands on the bank's excess capital just yet.
"This is hardly a Silicon Valley company".
RBS however appears to have benefited from settling under the Trump administration, which has been less hostile towards the banking sector than that of his predecessor Barack Obama. Some analysts predicted RBS might have to pay up to $12 billion.
David Goodall , who was not terminally ill, died while listening to Beethoven having enjoyed his last meal of fish and chips. Ethicists at a leading Swiss medical association oppose assisted suicide for anyone besides people with terminal illnesses.
This vulnerability only affects Windows 7, Windows Server 2008, and Windows Server 2008 R2, the bulletin said. Development on the feature will continue and it is too early to tell how useful it will be in the end.
Ritchie is now keeping busy with Disney's live-action Aladdin remake , which is slated to arrive in theaters on May 24, 2019. Sherlock Holmes on-screen adaptations are like buses, it seems; we wait ages for one, and then three come along at once.
The US company can not open physical stores in India, according to rules governing the multi-brand retail sector. Sachin Bansal will sell his 5.5 percent stake in Flipkart for an approximate value of Rs 7650 crore .
Since launching its spring offensive, the Taliban also has overrun at least four Afghan districts and threatened several others. Afghan security personnel inspect at the site of a suicide attack, in the center of Kabul, Afghanistan, on Wednesday.
Her new awareness campaign, called " Be Best ", is dedicated to children's well-being , cyberbullying and opioid abuse . First Lady Melania Trump took a major step toward solidifying her legacy during the Trump Administration on Monday.
State Department has said not all political parties have agreed to the elections, limiting the ability of individuals to run. This story has not been edited by Firstpost staff and is generated by auto-feed.
It is a bold, biting commentary on modern American discourse and the racial disparity, gun violence and vanity that come with it. In the video, Glover is joined by a number of schoolchildren who jive in unison with the rapper.
Belhaj and Saadi were released from jail in Tripoli in 2010 under a reconciliation deal arranged by Gaddafi's son Saif al-Islam. Boudchar was in the public gallery of the House of Commons with her son, now 14, to hear the apology.
With few major policy differences, the candidates ran bitter campaigns by arguing who's the strongest Trump supporter. The Vice President's brother, Greg Pence, won the GOP primary for Indiana's 6th Congressional District on Tuesday.
Bank of England Puts Off Interest Rate Rise
The Bank of England has announced it is keeping its main interest rate at 0.5% amid evidence that the economy is slowing. However, the Bank described that as a "temporary soft patch" with "few implications" for the outlook for the economy.
Severe thunderstorms possible Thursday afternoon
Wednesday, there is a 50 percent chance of showers and thunderstorms, with a high near 85, the weather service said. With the increased heat and humidity, afternoon shower and storm chances are possible both days.
Spoon and Stable's Gavin Kaysen wins second James Beard
The duo recently partnered with Compere Lapin sous chef Levi Raines to open Bywater American Bistro earlier this year . Freret Street cocktail lounge Cure won Outstanding Bar Program , which a year ago went to Arnaud's French 75.
Google launches auto-complete sentences in Gmail
Google has said that, in the coming months, users should keep an eye on upcoming apps and devices which work with Google Photos . When you type a sentence in an email, lighter text to potentially complete the sentence will appear.