Royal Bank of Scotland boss Stephen Hester saw his controversial £7.7m pay package rubberstamped by the Government today as the bank insisted it had to pay staff “fairly”.

Ulster Bank has announced its chief executive Cormac McCarthy is to leave the company after 10 years.

Liverpool are in talks with private equity firm the Rhone Group over a proposed £118.5m (€130.85m) deal to buy a significant share of the club.

The Royal Bank of Scotland (RBS) is to end its backing of the Williams Formula One team at the end of their current agreement, as a result of the economic downturn.