City morning headlines: RBS makes loss as it sets aside more cash for past misconduct

Royal Bank of Scotland has followed Barclays in beefing up the money it has set aside to cover costs for past misconduct.

The addition of an extra £865 million to its provisions meant the taxpayer-owned bank made a loss of £446 million, compared to £1.2 billion in profit last year.

Oil major Royal Dutch Shell has posted a 56% fall in first quarter profit due to the slumping oil price, but the decline was less than some analysts had feared.

It also surprised with decent profit growth from refining and trading, making $2.65 billion versus $1.58 billion the year before.

British Airways-owner IAG has made its first ever first quarter profit thanks to lower fuel costs and better performances at all three of its airlines.

IAG, which is trying to buy Irish flag carrier Aer Lingus, doesn't usually make money in the first quarter as fewer people tend to fly during that period, but it reported profit of £18 million for the three month to the end of March.

Property website Zoopla swoops to buy price comparison website uSwitch for £190 million.

There's more gloom from the London property market as Foxtons says its sales are down again.

Moneysupermarket.com benefits from renewed interest in personal loans and credit card deals from flusher consumers.

Over-50s insurer and holiday firm Saga’s first results since its lacklustre float see profits rise 9%. It shares are up only marginally from its 185p IPO price.

Fund manager Schroders sees strong net inflows of £5.1 billion.

Knees and hip replacement firm Smith & Nephew’s revenues rise 3%, with its US acquisition performing well.