The head of Royal Bank of Scotland’s embattled investment bank is in line to receive a special bonus this year of more than $6.1 million, an award that will be contentious given the government’s vow to crack down on excessive executive pay, the FT reports.
Global stocks will gain 20 percent by the end of 2012, according to a report by Citigroup’s head of equity strategy.
Shell is to close the FTSE 100’s last remaining final salary pension scheme to new hires in Britain, ending an era in which private sector workers could be confident of a guaranteed income throughout their retirements, the FT reports.
UK government bonds, having seen record lows in the 10-year yields at the end of 2011, will continue to be a sought-after safe haven asset as long as the euro zone's debt crisis remains unresolved, according to bond experts.
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.