Britain's financial watchdog fined State Street U.K. 22.9 million pounds ($38 million) for deliberately overcharging its clients.
U.K. companies' legal liabilities soared 12 percent in 2013, driven by the hefty fines slapped on banks, new analysis shows.
The European Commission has outlined plans to crack down on banks' risky trading activities in an effort to put an end to lenders deemed "too big to fail."
January lived up to its reputation as being the leanest month Tuesday as several of London's major financial institutions announced swinging cutbacks.
John Nelson, chairman at Lloyd's, explains that companies are starting to invest again but that it's still "at a brittle stage" and that political instability could "take us off tracks."
Big-name funds have struggled to make money in 2013, underperforming as stock markets rallied.
The first sale of state-owned shares in Lloyds Banking Group resulted in a £230 million loss for taxpayers. The FT reports.
European equities closed lower on Wednesday after a U.S. budget deal added to expectations the Fed will scale back stimulus soon.
Royal Bank of Scotland said its finance director, Nathan Bostock, had resigned to join Spanish bank Santander after just 10 weeks in the job.
The mooted spin-off of HSBC's U.K. retail banking arm could be one of a number of U.K. bank fundraisings next year.
HSBC has sounded out investors about a flotation of its U.K. arm, in a move that would realize value from its high street banking business.
Chinese state-backed investors are eying a stake in a U.K. bank, and have hired lawyers in London to examine their options, sources told CNBC.
Scotland’s campaign to break ties with the rest of the U.K. kicks off in earnest this week – but the economic implications are fiercely debated.
Staging a comeback from having your corporate bonds slashed to "junk" status can be a long, difficult road.
Barclays on Wednesday reported a 26 percent drop in third-quarter net profit to £1.385 billion ($2.22 billion) as earnings at its investment banking arm dropped sharply.
Stocks finished near session highs Tuesday, with the S&P 500 touching a fresh high and the Dow within 50 points of an all-time record, as investors looked ahead to the Federal Reserve's announcement.
U.S. stock index futures held their gains Tuesday, with the S&P 500 poised to hit a fresh high, despite a weaker-than-expected retail sales report and ahead of the Federal Reserve's two-day meeting.
CEO hails an "important" nine months for the the U.K. retail lender as third-quarter underlying pretax profit hits of £1.5 billion.
Euro zone banks look set to raise funds to meet stricter capital limits, as the European Central Bank prepares to become the region’s bank watchdog.
The European Union has failed to heed the lessons from Iceland's banking crisis, Bjarni Benediktsson, the finance minister of Iceland, told CNBC.