News in brief: Osborne asks EU to agree RBS split, NatEx shortlisted to run Berlin rail line, Thomas Cook dual Middle East sell-off

Chancellor George Osborne has applied to Europe for clearance to split taxpayer-controlled Royal Bank of Scotland into a “good” bank and “bad” bank.

The application does not prejudge a Treasury review of splitting the bank due later this month, officials said. However, it would avoid some of the stricter European Union rules on state aid for banks.

National Express was today shortlisted to run a German railway, potentially replacing the incumbent state-owned operator.

A month after the transport giant signed a 15-year deal worth £1.35 billion to run trains in Germany’s North Rhine Westphalia, it has been shortlisted to run the Berlin Ringbahn, a line around the German capital.

Thomas Cook today sold its Egypt and Lebanon businesses to a Gulf conglomerate for £6.5 million.

Thomas Cook Egypt and Thomas Cook Lebanon sold outbound corporate and leisure travel to Egyptian and Lebanese customers, plus foreign exchange services in both countries. The buyer was Bahrain’s Yusuf Bin Ahmed Kanoo group.