John Oliphant, suspended as head of South Africa’s 1.2 trillion-rand ($114 billion) Government Employees Pension Fund over the award of an advertising contract, disputed the findings of an auditor’s report that he acted irregularly.
Royal Bank of Scotland Group Plc didn’t deliberately push small businesses into default in order to buy their assets at a discount, according to a law firm hired by the lender to investigate the allegations.
Co-Operative Group Ltd. lost 2.5 billion pounds ($4.2 billion) in 2013 after a bailout of its former banking unit spurred the worst crisis in the 150-year history of the customer-owned British retailer.
Mt. Gox Co., the bitcoin exchange that collapsed in February, gave up on a plan to revive itself, dealing a setback to creditors seeking the recovery of hundreds of millions of dollars in the virtual currency.
RSA Insurance Group Plc said the head of its U.K. and western Europe business will leave the company, marking the first resignation of a senior manager since Stephen Hester was hired to revamp the British insurer.
Achilles Macris, a former JPMorgan Chase & Co. executive who oversaw the unit where a trader known as the London Whale caused $6.2 billion in losses, won the chance to respond to allegations he misled regulators.
Royal Bank of Scotland Group Plc and the U.K. government agreed to scrap the state’s rights to preferential dividends, bringing the lender closer to making payouts to shareholders and a return to private ownership.