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RBS reports $8 billion loss

Published

8 years ago

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London : Royal Bank of Scotland on Friday reported losses of 7 billion pounds sterling ($8 billion) for 2016, taking its overall losses since its 2008 government bailout to over 58 billion pounds.

The taxpayer-backed bank has also admitted it will not return to profit until 2018, indicating that it will report 10 years of losses before it returns to the black, the Guardian reported.

“The bottom line loss we have reported today (Friday) is, of course, disappointing but given the scale of the legacy issues we worked through in 2016, it should not come as a surprise,” said RBS Chief Executive Ross McEwan.

“These costs are a stark reminder of what happens to a bank when things go wrong and you lose focus on the customer, as this bank did before the financial crisis,” said McEwan.

The loss, the bank said, was caused by 10 billion pounds of one-off items, including 5.9 billion pounds for potential fines and legal costs, largely related to an upcoming penalty from the US Department of Justice for mis-selling toxic bonds in the run-up to the crisis.

Ninety thousand jobs have gone since the bank was bailed out in 2008 as it pulled out of risky businesses and sold off huge parts of its business to reduce the number of employees to 80,000.

A total of 540 branches have been shut since 2014.

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Apple is giving a huge discount on its gadgets: Details inside

Published

3 years ago

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May 5, 2022

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If you want to buy an iPhone and were waiting for a nice offer, then we have a piece of good news for you! Amazon Summer Sale May 2022 has begun and they are offering major discounts on various smartphones, laptops, and smart TVs, among others.

The sale is live now on the e-commerce platform with no-cost EMI options and exchange discounts on various products. In addition to this, Amazon has also partnered with several banks including ICICI, Kotak Bank, and RBL so that customers get instant discounts of up to 10% using their cards and EMI transactions.

Customers can easily enjoy this summer sale and get massive discounts on iPhones. They can also compare prices on Flipkart Big Saving Days Sale 2022 before making a purchase.

 

Amazon Summer Sale May 2022: Discount offer on iPhone 13 

Apple’s coveted phone model iPhone 13 in the 128 GB storage model will be available during the Amazon Summer Sale May 2022 for Rs 64,900. The MRP of the phone is Rs 79,900. This means that the customers will be able to enjoy a discount of up to Rs 15,000 on the purchase of the iPhone 13.

If you have an old iPhone in working condition then you will also be eligible to receive another additional discount worth up to Rs 17,000 on the iPhone 13.

Buy at Rs. 64,900 (MRP – Rs. 79,900)

Features of Apple iPhone 13 

The iPhone is powered by an A15 Bionic processor with 6 core CPU. Apart from this, it has 16 core neural engines. With the iPhone 13, up to 512 GB of storage will be available. The iPhone 13 has a 6.1-inch Retina XDR display with 1000 nits brightness.

The iPhone 13 has a 12-megapixel dual rear camera setup. This time a new wide-angle camera has been given, whose aperture is f/1.6. With this, there is support for sensor optical stabilisation. Night mode has been made better than before. The second lens is also 12 megapixels ultra-wide and has an aperture of f/2.4.

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