Economists expect Beijing to turn on the stimulus taps to prop up the economy following a sharp deceleration in activity growth in August.» Read More
U.K. Chancellor George Osborne said on Monday that banks in Britain will have to separate retail banking from riskier investment banking activities.
British banks that fail to guard their day-to-day banking from risky investment activities will face being dismantled, finance minister George Osborne is set to say later on Monday.
Royal Bank of Scotland faces the prospect of scrapping all bonuses for its investment bankers this year to free up cash to pay fines for its involvement in a global interest rate rigging scandal.
Nigel Lawson, former Tory chancellor, has urged George Osborne to fully nationalize the Royal Bank of Scotland, attacking the banking industry's bonus culture and what he says are its overrated "star" traders, the Financial Times reports.
European equities scaled fresh two-year highs on Tuesday, boosted by miners, as optimism about economic recovery gained momentum following encouraging U.S. home price data and comments over growth in top metals consumer China.
China's central bank is signaling it is abandoning its traditional role in the domestic currency market as the ready supplier of liquidity, forcing corporations to bear more risk so that they learn how to cope with a more volatile yuan.
Barclays was forced to name former heads Bob Diamond and John Varley, finance director Chris Lucas and other top executives and traders linked to a global rate-fixing probe, despite their calls for anonymity.
Banks in Spain, Italy, Ireland and Britain need to set aside much more money to cover potentially bad loans, credit ratings agency Moody's said on Thursday, meaning European taxpayers may again be tapped for cash.
Barclays has launched a consultation with staff in its investment bank whose jobs are at risk following a strategic review by new Chief Executive Antony Jenkins, the bank said on Tuesday.
U.K. banks and other finance firms will shed another 18,000 jobs in the first quarter of 2013 after cutting 25,000 in the last quarter, according to a report by a business lobby group.
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Indonesia's rupiah spent the latter half of 2012 shielded from speculative strikes and volatility by the country's central bank. That veneer of stability is starting to peel, if early signs this year are anything to go by.
Investment banking has been the focus of much of the recent news in the financial universe, with politicians urging banks to refocus on their traditional retail operations.
UBS has yet to fully purge itself of a global interest rate scandal that has put it at risk of a wave of costly civil suits, its investment banking chief said on Wednesday.
UBS AG is expected to be hit with a $1 billion-plus fine to settle charges of rigging Libor interest rates this week.
Bank lending to Britain's property market is at its tightest since the collapse of U.S. investment bank Lehman Brothers, a report showed on Friday.
The study by commercial real estate services firm CBRE comes just days after Hong Kong announced its first residential property tax targeted at overseas buyers as U.S. quantitative easing and record-low interest rates boost the risk of a housing bubble in the Asian financial centre.
HONG KONG/ SHANGHAI, Oct 25- Hong Kong's commitment to its 29- year-old currency peg to the U.S. dollar risks making the already pricey city even more expensive as policymakers try to manage a wave of foreign money seeking to cash in on a potential Chinese recovery.
LONDON, Oct 12- The British government said on Friday the collapse of a Santander deal to buy 316 UK branches of state-backed bank RBS was a matter for the companies, adding that it remained committed to promoting competition in the banking sector. "This is a commercial matter for RBS and Santander," a Treasury spokesman said.
LONDON, Oct 12- Spain's Santander said it pulled out of a deal to buy 316 UK branches from Royal Bank of Scotland as there was no chance of the deal completing by the end of this year and it was unwilling to extend the deadline again.