RBS to axe 2,600 UK jobs

The bank's insurance division will suffer the bulk of the losses, with a further 600 posts to go at the head office of its retail banking arm, the BBC reports. RBS has already announced about 20,000 job losses across its business. It has been trying to slash costs since the massive government bail-out to save it from collapse in 2007, which resulted in RBS being 84%-owned by the taxpayer. The banks's insurance arm includes the Direct Line, Green Flag, Churchill and Privilege businesses and employs 16,000 people. It has retail banking headquarters at locations including Edinburgh...