The original Mastertronic actually disappeared in the mid-90s, but it was reborn in 2004 when one of its co-founders, Frank Herman, helped negotiate the purchase of the name from Sega. Sadly, the UK-based games publisher, now known as the Mastertronic Group, is once again facing a bleak future, as it has announced plans to close its headquarters, lay off 40 percent of its staff and completely exit the business of publishing physical copies of games, PC Gamer reported.

Top bankers in Britain will become directly accountable for their actions under proposals unveiled by regulators on Wednesday, with those behaving recklessly facing jail, Telegraph.co.uk reported. The Bank of England’s Prudential Regulation Authority (PRA) will also publish final rules on clawing back bonuses paid to bankers found guilty of misconduct, and consult on closer scrutiny of how awards are made. Bonuses handed to “code staff”, those who take the biggest risks at a bank, will be subject to a clawback lasting seven years from when they were awarded, Sky News reported.

Britain’s Serious Fraud Office said on Friday that it would pay 3 million pounds, or about $5.1 million, to settle civil claims brought by a property developer following a flawed investigation into the collapse of the Icelandic bank Kaupthing during the financial crisis, the International New York Times DealBook blog reported.

The number of recorded personal insolvencies has reached its lowest level in nearly a decade, according to official figures, BBC News reported. The Scottish government said more people were using its debt payment programmes to manage their finances. Enterprise Minister Fergus Ewing described the figures as "encouraging". However, the figures also showed a rise in corporate insolvencies, with 250 Scottish firms failing in the second quarter of 2014.

Britain and other non-euro states are at risk of losing their influence over financial legislation as single currency members pursue their banking union project, respondents to a UK Treasury review have warned, the Financial Times reported. The report into the balance of power between Westminster and Brussels recorded strong backing for Britain’s membership of the single market, with leading companies saying it was a key reason for their decision to locate in London.

Britain’s antitrust authorities said on Friday that they expected to open a formal investigation into the country’s retail banking industry, citing potential barriers to competition that include the control of a national network of branches by four big banks that offer free banking to many customers, the International New York Times DealBook blog reported. If the inquiry proceeds as expected, it could challenge the dominant role of Britain’s big four: the Lloyds Banking Group, Royal Bank of Scotland, HSBC and Barclays.

British regulators said on Tuesday that they planned to cap the fees and interest that so-called payday lenders can charge for short-term loans, the International New York Times reported. The Financial Conduct Authority, which began regulating consumer credit companies this year, is calling for a cap on interest and fees of no more than 0.8 percent per day on payday loans, beginning in January. Fixed default fees would be capped at 15 pounds, or about $26, and the overall cost of any loan would not be allowed to exceed the amount borrowed.

The London High Court is convening a meeting of creditors of Russia’s aluminum giant RUSAL to vote on a scheme of arrangement of restructuring the company’s $5.15 billion debt, RUSAL said in a statement on Friday. RUSAL, which is the world’s largest aluminum producer, has earlier applied to the London and Jersey courts for the first time in Russia’s corporate history for debt restructuring after failing to win unanimous support from its creditors, the ITAR-TASS News Agency reported. The date of holding the creditors’ meeting was not specified in the statement.

Visitors arriving at Edinburgh airport are greeted with a large Royal Bank of Scotland Group advert stating "This Is Home." The bank's management isn't sure for how long, The Wall Street Journal reported. In September, Scotland will vote whether to become independent from the rest of the U.K. after more than three centuries of union.

Royal Bank of Scotland hired real estate investment bank Eastdil Secured LLC to advise on the sale of Irish property loans, according to three people with knowledge of the matter, the Irish Times reported. Ulster Bank, a unit of Edinburgh-based RBS, is preparing to sell €800 million of commercial real estate loans, known as Project Achill, said the people, who asked not to be named as the sale isn’t yet public. RBS spokesman Erfan Hussain declined to comment, while officials at Eastdil in London didn’t return a call seeking comment.