Economics / Markets

SOAPBOX

The senior executives of collapsed bank HBOS will come under fire from MPs on Thursday with the publication of a damning report on the failed bank.

The largest equity markets in the US have reached new record highs after an uptick in manufacturing data boosted investor sentiment.

FIVE THINGS

Santander has confirmed it has stopped offering investment advice to new customers resulting in the potential loss of 724 jobs.

Cyprus has implemented a series of stringent capital controls as it seeks to prevent assets fleeing the country when its banks reopen today.

The Bank of England's Financial Policy Committee (FPC) has said UK banks had a £25bn shortfall in their capital requirements at the end of 2012, as stricter capital requirements impacted balance sheets.

The third reading of UK's GDP growth for Q4 2012 has confirmed a 0.3% contraction between the third and fourth quarter.

GOSLING'S GROUSE

The UK's five major banks could see their profits take a significant hit in 2012 as regulatory pressures and a series of recent scandals take their toll, according to KPMG.