As many as 10,000 bankers at Royal Bank of Scotland face the prospect of losing their jobs, as the state-owned UK bank draws up detailed plans to retreat from investment banking, the FT reports.
UK chief financial officers (CFOs) see the break - up of the European single currency as the greatest threat to their businesses in 2012, a survey from the accountancy firm Deloitte showed on Tuesday.
American shareholders are suing Britain's Lloyds Banking Group and the bank's former executives, saying they were misled over its rescue of fellow lender HBOS in the depths of the financial crisis in 2008.
The International Monetary Fund (IMF) should resist pressure from European Union leaders to take part in inadequate bailout programs for European countries, Mohamed El-Erian wrote in the Financial Times.
There was a wide-ranging change of the guard in Europe in 2011. In 2012, there could be an even bigger shift, with several key countries facing possible changes at the top.
Fund managers and financial advisers should be forced to study financial history to reduce the likelihood of future market panics and crashes, according to a leading trade body for investment professionals. The Financial Times reports
Ten percent of the 40,000 construction workers employed for the 2012 Olympic Games were previously out of work, according to a report by the Olympic Development Authority (ODA).
Stung by souring loans and troubled government bond portfolios, many European banks are being forced by regulators to raise money to build up their cash cushions against future losses.
George Osborne has called time on Royal Bank of Scotland’s ambitions to be a force in global investment banking, as the chancellor backed sweeping reforms to ensure taxpayers never again have to rescue the banks. The FT reports.
The brawl has made for cracking entertainment. It's been a super-fun read. But it's time for government officials in the United Kingdom and France to shut their traps and get their heads back into the game of saving the euro zone's economy.
Japan, the US and the UK will retain zero interest rates policies until at least early 2014, according to a December report by Swedish bank SEB.
Rupert Murdoch’s son James received and responded to e-mail messages in 2008 that referred to “a nightmare scenario” of legal repercussions from widespread phone hacking at the tabloid The News of the World, the NYT reports.
Hold the condolence cards, but the recession cost the rich. The share of income received by the top 1 percent — that potent symbol of inequality — dropped to 17 percent in 2009 from 23 percent in 2007, according to federal tax data. The New York Times reports.
UK Prime Minister David Cameron on Monday defended his decision to veto European Union treaty changes at last week's summit of EU leaders, saying he was faced with a choice of treaty change without safeguards for Britain, or no treaty.
In the fiscal accord, the nations that use the euro essentially agreed to go back to Plan A — that is, the principles and rules with which they created their common currency two decades ago.
The UK had no choice but to opt out of further treaty changes and did the right thing by exercising its veto, analysts told CNBC Friday.
A solicitor employed at UK internal revenue service, HM Revenue and Customs (HMRC) is facing disciplinary action, which could include being fired from his position, and possible legal action for blowing the whistle on a deal which saw Goldman Sachs being let off from paying $15.6 million in tax, according to British newspaper The Guardian.
What may have seemed like timid or even bumbling leadership is looking more like a consistent strategy of brinkmanship aimed at remaking the euro zone in Germany’s likeness. The New York Times reports.
A break-up of the single European currency would have severe consequences on the UK economy, with unemployment pushing above 4 million, the pound appreciating sharply and major banks failing, analysts at ING wrote in a market note.
When Eventbrite, a start-up based in San Francisco that sells tickets online, decided to open its first international office, the founders turned to the East End of London. The New York Times reports.