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.
Accountants will have to determine more thoroughly if a bank can stand on its own two feet for well over a year without taxpayer help under draft changes from Britain's audit regulator.
There is a new twist in the London Whale trading scandal that cost JPMorgan Chase $6.2 billion in trading losses last year. Some of the firm's own traders bet against the very derivatives positions placed by its chief investment office, said three people familiar with the matter.
Anglo American took a $4 billion hit to its Minas Rio project on Tuesday, clearing the decks for new boss Mark Cutifani and indicating that the delayed Brazilian operation will eventually get off the ground.
The policy of quantitative easing pursued by the Bank of England since 2008 has hurt the nation's savers and any further stimulus would have marginal benefits, according to evidence heard by U.K. policymakers.
U.K. employment creation has had a "+" sign in front of it for the last two years at the same time as gross domestic product shows the U.K. has not fully emerged from recession. How is this possible?
The world's top economic policymakers are likely to discuss how Japan's new monetary and fiscal policy drive is weakening the yen when they meet next month, but will stop well short of calling it a competitive devaluation, G20 officials said.
Kit Juckes, global head of foreign exchange strategy at Societe Generale, discusses whether the sterling will fall further, and says there is a "major" risk the U.K. will lose its triple-A rating.
David Riley, global managing director for sovereign ratings at Fitch Ratings, says the U.K. faces a "significant" risk of being downgraded.
Nick Clegg, leader of the junior party in Britain's ruling coalition, denounced David Cameron's pledge to hold a referendum on quitting the European Union, as polls on Sunday indicated the prime minister's move may gain him votes.
Bank of America has begun moving more than $50bn of derivatives business out of its Dublin-based operation and into its UK subsidiary, according to people close to the operation.
Japan's economy minister rejected criticism on Saturday that his country's extraordinary fiscal and monetary stimulus program was aimed at weakening the yen and undermined central bank independence.
The Financial Stability Board is expected to make proposals on how to regulate this dark area of the financial sector before the G20 autumn summit in Russia.
Corporations are leaving billions on the table by failing to follow that old crunchy-granola practice: Recycling.
International bankers and finance ministers warned on Saturday that Europe's crisis was not over even though the euro currency is now stabilized.
Michael Plavnik, head of short term interest rate trading at Citigroup, says the U.K.'s worse-than-expected fourth quarter contraction is partially due to an unwinding of the London Olympics boost. He thinks the British pound will continue to weaken.
The European Commission confirmed on Friday that it had looked at ways of getting a deal on the European Union's next long-term budget without British consent so as to prevent Prime Minister David Cameron from vetoing the package.
Pressure continues to mount up on sterling as sluggish growth in the country was confirmed in Friday's report on gross domestic product (GDP) - and manufacturers have told CNBC that while they welcome a fall in the currency, a significant fall could be risky.
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.
London trumped Hong Kong for the dubious accolade of world's most expensive city for office space, according to a recent survey.