Ross McEwan's response to systems failure
"For decades, RBS failed to invest properly in its systems. We need to put our customers' needs at the centre of all we do. It will take time, but we are investing heavily in building IT systems our customers can rely on.
"I'm sorry for the inconvenience we caused our customers. We know we have to do better. I will be outlining plans in the New Year for making RBS the bank that our customers and the UK need it to be. This will include an outline of where we intend to invest for the future."
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Deflation has reached the US, but not to worry it’s the “good” sort that helps boost household spending. In contrast, continuing Eurozone deflation contains some of the “bad”. For the UK, lower oil prices were not all good news. Business investment fell, due primarily to a postponement of oil and gas projects.
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