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RBS sets aside $639 million for currency probe

By WTOP Staff

LONDON (AP) — Royal Bank of Scotland, which is majority-owned by the U.K. government, has set aside 400 million pounds ($639 million) to cover potential fines arising from international investigations into alleged manipulation of foreign currency trading.

The total represents over half the 780 million pounds the bank earmarked for “conduct and litigation costs” in third-quarter earnings released Friday.

The results show the bank, which was bailed out by the government during the 2008 financial crisis, swung back to profit during the July-September period. Its net income of 896 million pounds follows an 828 million-pound loss last year.

CEO Ross McEwan says the bank knows it has “a long list of conduct and litigation issues to deal with and much, much more to do to restore our customers’ trust in us.”

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Emergency guide: What you should do to prepare for emergencies

By WTOP Staff
WASHINGTON — Do you know what you'd do if an emergency hits? What if you're at work, your spouse is stuck in traffic and your children are in school? There's no way to plan for every emergency, but you can make sure you're prepared for different scenarios, including making a plan for your family and building a kit of emergency supplies.
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