Category: News Wire

Euro zone finance ministers and the International Monetary Fund clinched agreement on reducing Greece’s debt on Monday in a breakthrough to release urgently needed loans to keep the near-bankrupt economy afloat.

The City is braced for more radical attempts to break Britain’s growth deadlock after the surprise appointment of Mark Carney, the Canadian central bank chief, as the next Bank of England Governor.

Prime Minister David Cameron gained allies in his fight against EU spending rises on Friday to avoid having to wield a solitary veto that would have further isolated Britain and fuelled questions about its future in the 27-nation bloc.

Barclays has come under pressure from some of its largest shareholders to axe its investment bank as part of a radical restructuring.

UBS has been fined £29.7m by Britain’s financial regulator for failures in its systems and controls that allowed former employee Kweku Adoboli to conduct Britain’s biggest bank fraud.

One of Britain’s most respected think-tanks has warned the Chancellor that he will lose credibility if he uses a £35bn windfall from quantitative easing to meet his fiscal targets.

Frontrunner to be next governor of the Bank of England says economy is still at risk of being ‘blown up’ by non-retail banks

Judge orders repayment of $1.3bn to ‘vulture funds’ as debt campaigners hit out at speculators’ behaviour

A loophole in the Government’s planned bank reforms risks leaving the taxpayer on the hook for billions of pounds in the next financial crisis, the Governor of the Bank of England has warned.

Vince Cable wants regulators to define the duty of investment managers to “act in good faith”, as part of the Government’s bid to curb the City’s “quick buck” mentality.

Just months after being fired for colluding with the UBS “master fraudster”, Kweku Adoboli’s former colleague has set up a new enterprise – in online gambling.

Big banks are good for Britain and must not be broken up, according to George Osborne, as he argued the country’s largest lenders were beneficial to society.

The Government’s flagship deregulation policy is to be radically overhauled following criticisms that a promise to “light a bonfire” on red tape has failed to materialise.

Britain’s car industry will bring together the country’s biggest lenders and the automotive supply chain on Wednesday in an attempt to boost lending and investment in the sector.

France has suffered a serious blow to its economic credentials after being stripped of its prized AAA credit rating by Moody’s.