Ross played down the prospect of an agreement being reached at the G-20 meeting in Osaka on June 28-29.Paris Airshowread more
Boeing is scrambling to restore confidence in the 737 Max from regulators, customers and the flying public.Paris Airshowread more
Heavy rains caused unprecedented delays in planting this year and contributed to record floods across the central United States.Agricultureread more
Huawei CEO and founder Ren Zhengfei said that the Chinese tech company will report revenues of around $100 billion in 2019 and 2020, which would be flat growth versus 2018.Technologyread more
Bitcoin leapt across the $9,000 mark on Sunday, boosted by reports that Facebook is soon set to launch its own cryptocurrency.Cryptocurrencyread more
Although Cook did not mention companies by name, his commencement speech in Silicon Valley's backyard mentioned data breaches, privacy violations, and even made reference to...Technologyread more
In the survey, 66% of Democratic primary voters say they'd be enthusiastic or comfortable about Biden as their nominee to take on President Trump in the 2020 election. Just...Politicsread more
Organizers claimed that nearly 2 million Hong Kong protesters took to the streets Sunday in a rally to demand the city's top official resign a day after she suspended — but...China Politicsread more
African swine fever, which has already ravaged pig herds in China and pushed up food prices there, could also drive up inflation in the other emerging markets, according to...Asia Economyread more
Consumer goods giant Unilever has taken the unusual step of having some of its marketing staff read their own DNA profiles to see whether finding out about their heritage has...Marketing.Media.Moneyread more
Stocks in Asia were mixed on Monday as investors await a U.S. Federal Reserve meeting set to happen later in the week stateside.Asia Marketsread more
The Royal Bank of Scotland announced Friday the intention to pay its first dividend in a decade, once its settlement with the U.S. Department of Justice (DOJ) is finalized.
While well below the pre-crisis payout, the ability to offer a dividend to shareholders is a milestone for the group, RBS Chief Financial Officer Ewen Stevenson said on Friday. This initial interim dividend will stand at 2 pence per share.
"It's obviously a massive event for the organization — last time we paid a dividend was 2007. I think it's a really positive sign of how much progress the bank has made over the last few years," he told CNBC's Nancy Hungerford.
The U.K. lender has been mired in a years-long legal saga with the DOJ over its selling of toxic mortgages in the U.S. in the run-up to the 2008 financial crisis. The lengthy settlement agreement process has prevented the bank from providing dividends to its shareholders. In May, RBS agreed to pay a £3.6 billion ($4.9 billion) penalty to the DOJ to end the investigation.
"We do have to get the DOJ agreement signed relating to RBS, but once that's signed we've declared today a 2 (pence) dividend subject to that," the CFO said. "And I do think from here we'll build payouts very nicely, we do expect payouts to increase significantly going into 2019 and 2020."
RBS also reported a loss for the first half of the year after paying out £1 billion ($1.3 billion) of the DOJ fine. Attributable profit for the British lender came to £888 million, down 5 percent from £939 million in the first half of 2017.
The payout of the charge will pave the way for the U.K. government to sell its 71 percent stake in the bank, which has been majority taxpayer-owned since its bailout in 2008.
"We're pretty pleased with the results today, another good six months for us," Stevenson went on. "We've managed to keep income stable in the retail commercial bank despite the pretty tough operating conditions out there, costs continue to come down and a really nice build in capital. So overall pretty pleased with the results."
Conduct and litigation costs were £801 million for the year's first half, including the £1 billion DOJ settlement. Still, costs are down for the group by £133 million, down 3.6 percent compared to the same period in 2017.