Iain Banks, the acclaimed Scottish sf and thriller writer, has joined with an illustrious list of prominent Scots in calling on the British government to reform the Royal Bank of Scotland. RBS received a titanic tax-funded bailout (much of which was diverted into a stupendous pension for Fred Goodwin, the bank's erstwhile CEO, who led it to ruin), which means that the taxpayer is now a major shareholder in the bank. But the bank is still refusing to lend to Britons who need mortgages, preferring instead to make dirty investments in climate-wrecking tar-sands in Alberta, as well as taking the astonishing step of loaning money to Kraft, an American firm, which is trying to buy Cadbury's a British firm -- if Kraft succeeds, then RBS will have funnelled British workers' pay into a loan that resulted in the shut-down of British factories and sent British jobs to America.
More than 30 signatories, including Gordon Roddick, who founded the Body Shop with his late wife Anita, leading green campaigner Tony Juniper and Rev Ian Galloway, convenor of the Church of Scotland, take the government to task for failing to push RBS and the other bailed-out banks into supporting socially useful investments.
Celebrities, MPs and clergy urge government to rein in RBS
In their letter, written to mark the first anniversary of the British taxpayer becoming its largest shareholder, they call on Darling to transform RBS into the "Royal Bank of Sustainability".
The strongly-worded communication criticises the Treasury for standing on the sidelines while RBS took a controversial decision to support US foods group Kraft in its bid for chocolate maker Cadbury, despite the fact the bid will put jobs at risk and therefore work against the interests of the UK taxpayer. The bank's conduct has also raised eyebrows in the City because it breached protocol by neglecting to inform Cadbury of its planned defection to the Kraft camp, despite having a decades-long relationship with the confectioner.
Rolls Royce just arranged for a “deferred prosecution” with UK prosecutors over revelations that it had committed jailable offenses by bribing overseas officials in order to secure their business; under this arrangement, prosecutors have allowed Rolls Royce to pay to have the prosecution halted and to have their executives immunized from criminal repercussions for their […]
The “nonpology” is a corporate standard: a company does something terrible, and then it tells you it’s sorry that you found its behaviour upsetting. But HP’s October 2016 public statement on its secret, aftermarket attack on its customers’ property has made important advances in the field of nopologyology.
In a new paper in Progress, Oxford economist Vuk Vukovic argues that the key to re-election in local politics is to be just corrupt enough: giving lucrative contracts and other benefits to special interests who’ll fund your next campaign, but not so much that the people refuse to vote for you.
Whether I’m trying to relieve some stress at work or entertain myself on the metro, Space Putty is there. You can bring this magical goo home and try it for yourself for just $9.99Like Silly Putty of yesteryear, this viscoelastic substance can be molded into different shapes and stretched around in your hands. Use it […]
You know as well as I that writing complex, long-long form text requires significant organization. You’re probably also well aware that Word just isn’t up to the task. That’s why I’m a huge fan of Scrivener, the software suite used by best-selling authors and technical writers alike.Scrivener is much more than another digital typewriter. With a […]
Looking to upgrade your weekend? Here are three randomly awesome products on my mind this week.#3 FRESHeBUDS Pro Magnetic Bluetooth EarbudsAs more and more phones and gadgets switch to Bluetooth-only compatibility, you’ll need to get Bluetooth headphones like the rest of us. I’ve been super impressed with these affordable magnetic headphones. Pull the magnetic earbuds apart to auto-connect […]