THE DAILY BRIEFING

RBS RECKONING The Royal Bank of Scotland will be cleared of claims it systematically sought to destroy businesses, insiders have suggested.

An investigation into practices by the lender’s controversial global restructuring group after the financial crisis is set to be published by the Financial Conduct Authority.

RBS’s turnaround unit was supposed to help struggling businesses stay afloat – but there have been claims it instead seized their assets to boost its own ailing balance sheet.

MINER SPLIT Mining giant Anglo American is reportedly considering a £2bn spin-off of its South African coal and iron business.

The sale would allow it to focus on its diamond, copper and platinum operations.

It follows shareholder calls for a break-up of the company.

OIL FEARS oil and gas investors will be keeping a close eye on BP and Royal Dutch Shell this week as the rivals both post third-quarter results.

Business is still looking bleak for major oil firms, which continue to struggle to break even in a low-price environment.

While oil prices have almost doubled since hitting 12-year lows at the beginning of 2016, most producers still cannot cover their costs at $50 a barrel.

HIRE DRAMA Machinery rental firm Hewden is said to be urgently seeking backers after a business downturn squeezed its cash reserves.

The firm – which is also seeking to refinance £190m of debt – employs more than 1,000 people across the country.

It is working with Deloitte on a rescue plan and said it was optimistic a solution could be found.

FRACKING LOSS Cuadrilla Resources has posted a £15m loss as the controversial fracking firm struggles with red tape.

The business is hoping it can start to drill in lancashire next year after finally winning approval earlier this month.