'Black day' for Scottish independence campaign
Two major banks have decided if voters decide to leave the UK, they will partially relocate to London.
LONDON - It's being described as a "black day" for the Scottish independence campaign.
Two major banks have decided that if voters decide to leave the UK, they will relocate major parts of their business to London for financial stability.
The question being asked is whether or not this is a game changer in the vote, which is now just a week away.
The unanswered questions of what currency Scotland would use and what central bank it would have led to alarm in the corporate world as well as weighing on voters' minds.
The Royal Bank of Scotland says it will relocate to London if Scotland votes for independence.
The bank has been based in Scotland since 1727 but would redomicile the bank's holding company while keeping a "significant level" of jobs north of the border.
Lloyds Banking Group which owns Bank of Scotland says it could shift some of its business from Scotland too.It's part-owned by the UK taxpayer.
In another development, the leader of the independence campaign has been accused of deliberately exaggerating the extent of North Sea oil reserves in order to boost his prediction of future income.
In the past week, polls had shown a surge in support for the independence campaign led by Alex Salmond's Scottish National Party, and it appeared they were on a march to victory in next Thursday's vote.
That prompted Conservative Prime Minister David Cameron and David Miliband of the Labour Party to head to Scotland on Wednesday to make emotional appeals for Scots to stay within "Britain's family of nations".
The pro-independence camp says it is time for Scots to rule their own country and build a fairer society without being told what to do by a political elite in London. The campaign for staying together says Scotland is more prosperous and secure within the United Kingdom, and says an independent nation would struggle to be economically viable.