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Round-up

ROYAL Bank of Scotland (RBS) chief executive Ross McEwan will receive £1 million in shares in the state-owned bank every year from 2015 under a "back-door bonus scheme".

UK Financial Instruments (UKFI), the government body which looks after taxpayers' stakes in the bailed-out banks, will signal its approval to the payments this week, according to The Sunday Times.

The newspaper claimed the "allowances" were created to circumvent new European Union caps on bankers' bonuses. It said "dozens" of other RBS bankers are already benefiting.

The same paper reports that Asos has temporarily stopped taking orders from its website after the online clothing retailer's massive distribution centre near Barnsley was hit by fire.

The blaze follows profits warnings issued by the firm this month and in March.

Bank of England governor Mark Carney has been urged to act "quickly and decisively" to prevent a housing market crash.

Two senior Nordic ­regulators made the case for introducing market-cooling measures such as loan-to-value caps and requiring borrowers to put down higher deposits when buying homes in interviews with The Sunday Telegraph.

Their intervention comes with Mr Carney expected to announce measures to prevent the economy over-heating this week.

Analysts at Netherlands-based Rabobank meanwhile have the Scotch whisky industry in their sights.

The Sunday Herald delves into a new report from the global bank calling on the sector to avoid the mistakes the Australian and Californian wine industries made in the late 1990s and early 2000s, when over-production at times of high demand led to years of lower prices.

The report also suggests whisky producers should be more innovative with new product development. It notes that whisky-makers in the US and Canada have seen sales rise on the back of innovations such as fruit-flavoured drams.

Private companies are to tap into classified information picked up by intelligence agency GCHQ in Cheltenham to protect them against cyber attacks.

The Mail on Sunday reports the move aims to protect "critical networks" such as banking.

Contextual targeting label: 
Finance

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