SCOTLAND: ‘ RBS Concerns Over Independence for Scotland and the Adverse affect on Customer Numbers ‘

#AceFinanceNews – SCOTLAND – August 27 – BBC Scotland on August 01 2014 highlighted the concerns of Royal Bank of Scotland (RBS) over independence and the adverse affect it would have on customer numbers. In their report the BBC reported this: Royal Bank of Scotland has reiterated that Scottish independence could have a "material adverse effect" on its business.

The Edinburgh-based bank, 80% owned by the taxpayer, said a "Yes" vote in the 18 September referendum could cause uncertainty and hit credit ratings.

RBS said independence could also affect the fiscal and monetary backdrop under which the bank operates.

Scottish ministers said independence would boost the nation’s economy.

The bank’s comments came it announced its half year results, confirming figures published last week which showed a big jump in operating profits, to £2.6bn.

In a section of its results report on risk factors facing the group, RBS stated: "Although the outcome of the referendum is uncertain, subject to any mitigating factors, uncertainties resulting from an affirmative vote in favour of independence would be likely to significantly impact the group’s credit ratings and could also impact the fiscal, monetary, legal and regulatory landscape to which the group is subject.

"Were Scotland to become independent, it may also affect Scotland’s status in the EU.


SCOTLAND: ‘ More Than 130 Businesses Sign Letter Outlining Business Case for NO Campaign the Question You Have to Ask is it Better for them or Better for Scotland ‘

#AceFinanceNews – SCOTLAND – August 27 – More than 130 businesses have signed a letter saying the business case for Scottish independence "has not been made".

The signatories come from a variety of businesses including banking, mining, engineering, food, whisky, and technology.

But lobby group Business for Scotland said economic "facts and figures" support Scottish independence.

The letter has been published in The Scotsman newspaper.

Scotland will go to the polls in the referendum on 18 September, with voters being asked the "Yes/No" question: "Should Scotland be an independent country?"

The letter is signed by business leaders including Douglas Flint, the chairman of HSBC; Andrew Mackenzie, the chief executive of the mining giant, BHP Billiton; and Sir John Grant, executive vice-president of policy at the energy company, BG Group.

Others include Audrey Baxter, executive chairman of Baxters Food Group; Simon Thomson, the chief executive of Cairn Energy; and Ian Curle, the chief executive of Edrington, which owns the whisky brands The Macallan and The Famous Grouse.

The real question though is it better for them or better for Scotland – l suppose that will another debate.