Osborne to sell RBS stake at a loss after gaining Carney and Rothschild backing

Chancellor George Osborne is to begin selling the government's 80% stake in Royal Bank of Scotland at a loss, saying any further delay could jeopardise the economy.

In his annual Mansion House speech last night, Osborne said that a “decision point” has been reached, signalling an initial sale of shares in the bank in the coming months. “The longer we wait, the...