Business Live: RBS accusations plus business headlines

Key points

  • RBS accused over small business treatment
  • Oil prices fall in response to Iran nuclear deal
  • Government announces plans to cap payday loans rates

Live text

Reporting:

  • Edwin Lane 
  • Ben Morris 

Last updated 25 November 2013

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Ben Morris, Business Reporter

Good morning from the Business Live team. Unlike the English cricket team we are back at work this morning. No doubt about the top story so far - Royal Bank of Scotland is accused of killing off companies. Plenty more on that here. If you want to get in touch, it's bizlivepage@bbc.co.uk or tweet @bbcbusiness.

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Edwin Lane, Business reporter, BBC News

Good morning all. Coming up: lots of reaction to the RBS accusations, plus we'll be keeping a close eye on the global oil markets following the Iran nuclear deal and look ahead to more debate over HS2, with the bill published later.

STANDARD 0601 RBS REPORT

Radio 5 live
RBS HQ

A "very very very profound accusation" Mark Garnier, Conservative MP and member of Treasury Select Committee said on Wake Up to Money this morning. He was reacting to a claim in a report by government adviser Lawrence Tomlinson saying RBS put some "good and viable" businesses into default so it could make more profit.

STANDARD 0605 OIL PRICES

Oil prices have fallen after Iran agreed a deal to curb some of its nuclear activities. Iran holds the world's fourth-largest oil reserves but its exports have been hurt by tough sanctions. Brent crude fell more than 2% in trading in Asia early this morning.

STANDARD 0611 PAYDAY LOANS

Radio 4

BBC political correspondent Vickie Young reports that the government is introducing a new cap on the amount of interest payday loan companies can charge. She says the level of the cap will be decided by the Financial Conduct Authority.

STANDARD 0618 PAYDAY LOANS

Radio 4

Gary O'Donoghue, another of our political correspondents, tells the Today programme that regulators have been "pretty sceptical about the efficacy of caps" on payday loans in the past, but this new law will give them a duty to impose one. There are concerns that making loans less available will simply drive the industry underground.

STANDARD 0624 FLOOD DEFENCES

Radio 5 live
Flooding 2012

Last year extreme weather, including floods, cost business £200m. As a result flood defences are a good investment says David Rooke, Director of Flood and Coastal Risk Management at the Environment Agency on Wake Up to Money.

STANDARD 0628 RBS REPORT

Radio 4

David Cumming, head of UK equities at Standard Life Investments, an RBS shareholder, says he is worried by the allegations that RBS was deliberating pushing businesses under, but says he wants to hear their side of the story before jumping to conclusions.

STANDARD 0632 LATE NIGHT SHOPPING

Radio 5 live
Regent Street

"Up to 73%" of us would consider shopping as late as midnight, Kate Hardcastle, consumer expert, tells Wake Up to Money. In the run up to Christmas many shops are planning to open that late this year.