Companies

May 8: Impairments at RBS soar to £3bn

Royal Bank of Scotland swung to a loss in the first quarter in spite of a jump in total income. Impairments at the majority state-owned bank quadrupled to almost £3bn, weighing down the surge in revenues from the group's investment banking division. Jane Croft, retail banking correspondent, analyses the numbers and explains to Richard Edgar why the share price has been buoyed by the announcement. Produced by Darryl Thomson. SA