British Chancellor calls for retired bank boss to surrender pension

British Chancellor Alistair Darling urged failed banking boss Fred Goodwin to give up his £650,000 (€726,831) pension today - threatening legal action if he fails to act voluntarily to end the controversy.

The British Treasury was angered by the revelation that the former chief of Royal Bank of Scotland, which today announced a UK record £24.1bn (€27bn) annual loss, is already benefiting from his £16m (€17.9m) pension pot, even though he is only 50.