Here is a round-up of the financial news from around the world:
1. Royal Bank of Scotland Plc (RBS) - Get Royal Bank of Scotland Group Plc Report posted a larger-than-expected full year loss of just under £7 billion, the bank said Friday, after massive litigation and writedown costs hammered the bottom line of the taxpayer owned bank.
2. Pearson (PSO) - Get Pearson Plc Reportshares were volatile on Friday after the publishing group said it would launch a strategic review of its Wall Street English and Global Education businesses following a full-year pre-tax loss of £2.56 billion ($3.3 billion).