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RBS fined £390m over Libor

The Royal Bank of Scotland has been fined £390m by the Financial Services Authority and US authorities for its role in the Libor rate-rigging scandal.

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Vince Cable: It makes no sense to 'pass on the costs'

The Royal Bank of Scotland will announce how much it will be fined by the Financial Services Authority and US authorities for its role in the Libor rate-rigging scandal today.

Business secretary Vince Cable will today revive a plan to return the Royal Bank of Scotland to the private sector.

Speaking to ITV Daybreak he said if the country was to recover from the prolonged banks crisis, positive initiatives to get the banks lending again needs to be introduced.

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