The Bank of England and the Financial Conduct Authority published two long-delayed reports into HBOS on Thursday, which blamed HBOS's management for its failure and criticised the previous regulator, the Financial Services Authority. The BoE and the FCA should consider whether to take action against HBOS's chief executive at the time of the collapse, Andy...
The capital of euro trading prospers outside the euro zone, but London's dominance of the $5.3 trillion- a-day foreign exchange market could wane if Britain left the European Union. "If the UK left the European Union, London's dominance of foreign exchange including euro trading would gradually decline and then end as the flows moved to Asia and other European...
LONDON, July 14- HSBC should have made deeper checks before buying a Swiss private bank that allegedly allowed customers to dodge taxes and a Mexican business that breached anti-money laundering rules, its former chairman said. We didn't get everything right, " Stephen Green told British lawmakers on Wednesday. "We had that reputation sullied by things we didn't...
*Osborne says sale right thing to do for UK taxpayers. LONDON, June 10- Britain will start selling its 32 billion-pound stake in Royal Bank of Scotland in the coming months, finance minister George Osborne said on Wednesday, giving up on his previous intention to only sell the shares for a profit. Osborne said he had received independent advice from the Bank of...
A group of shareholders in Royal Bank of Scotland has launched a multi-million pound lawsuit against the state-owned bank for misleading investors at the height of the credit crisis in 2008.
LONDON, Oct 4- The activists who have protested in recent months at the tax arrangements of some leading British companies are united with many politicians in wanting to cut corporate tax avoidance.
By Guy Faulconbridge and Matt Falloon. MANCHESTER, England, Oct 2- Britain's opposition leader Ed Miliband cast himself as a humble man of the people on Tuesday in a confident speech, seeking to win over doubters and portray Prime Minister David Cameron as the product of a snobby education who has hurt the economy.
The government appears to be taking the proposals of the Independent Commission on Banking, in the UK seriously and looks as if it may implement the majority of Sir John Vickers proposals, writes the Financial Times’ Martin Wolf.
David Cameron will tell Angela Merkel on Thursday that she needs to act now to bring the eurozone back from the brink of disaster – a message likely to stoke irritation in Berlin and other eurozone capitals, the Finanical Times reports.
Plans to give shareholders more power over boardroom pay will be given centre stage in the Queen’s Speech, as highly paid executives face another week of lambasting from shareholders, the Financial Times reports.
Voters in the United Kingdom punished the coalition government’s two political parties at local elections across the country on Thursday in what will be seen by many as a rejection of the government’s austerity.
While the French presidential elections are drawing the attention of most in Europe, local elections in the UK, though unlikely to change the shape of Britain’s coalition government, could put pressure on its economic policy.
Rupert Murdoch is under pressure over his Sun tabloid after the arrests of several senior staff in a corruption probe, but whistleblowers inside his media empire may pose more of a threat than the public outrage that towards his business empire that he was forced to give up his closed its sister paper.
The United Kingdom will retain its triple-A credit rating this year thanks to the Bank of England’s policy of quantitative easing and demand for UK gilts, City-based analysts told CNBC.
The United Kingdom is likely already back in recession and may see unemployment approach three million before the end of the year, economic think tank the Ernst & Young Item Club forecast on Monday.
Occupy London Stock Exchange demonstrators announced on Friday they had “repossessed” a building belonging to Swiss investment bank UBS in Hackney East London.
Former British Prime Minister Gordon Brown has called on the United States to show leadership on the global economic recovery at the next G20 Summit to be held in Nice, France next month.
The British Prime Minister David Cameron defended the coalition government’s austerity plans on Wednesday telling delegates at the Conservative party’s annual conference in Manchester: “Our plan is right, and our plan will work.”
When chancellor of the exchequer, George Osborne, got up to speak at the Conservative party conference on Monday, he knew he had to tread a fine line between optimism that the British economy could recover and wasn’t going to fall into a "double-dip" recession, versus facing down calls from the Liberal Democrats to ease public spending cuts and those on the right of his own political party calling for an end to the 50p tax rate at the very least.
The UK’s finance minister, Chancellor of the Exchequer George Osborne vowed to continue the coalition government’s austerity program on Monday telling delegates at his Conservative party’s annual conference in Manchester, UK, that Britain would “ride out the storm.”