Royal Bank of Scotland is preparing a dramatic retrenchment that would see it become a much smaller U.K. retail and commercial bank. The FT reports.» Read More
First it was HSBC, then Standard Chartered, now it is Royal Bank of Scotland. The Financial Times is reporting that RBS is under scrutiny by US authorities for possible transactions with Iran. Catherine Boyle has more.
The Bank of England is not expected to boost its bond buying program this time around. But it has been suggested the UK government might have another idea for getting more money into the UK economy. Catherine Boyle has more on the story.
CNBC's Kelly Evans reports on all the market moving events from Europe, as Central Bank measures fail to boost investor confidence, and RBS pulls out of Tibor, Japan's version of Libor.
Peter Toogood, head of investment at Old Broad Street Research, told CNBC that the Moody's Corporation downgrade of 12 UK banks told investors nothing they did not already know about systemic risk.
The UK proposal to ring-fence investment banking from retail banking, which is currently under consideration by the Independent Commission on Banking, is "barking mad ", John Cridland, director general of the Confederation of British Industry, told CNBC.