Economics / Markets

The Bank of England's deputy governor Paul Tucker has asked to be allowed to address the Treasury Select Committee following the revelation he contacted Bob Diamond to discuss Barclays' LIBOR submissions.

Banks should be subject to the same level of scrutiny as the trustees of pension funds, a consultancy says.

The International Monetary Fund has trimmed its US GDP forecasts and warned the nation's economic recovery remains fragile.

Barclays' submission of a memo to the Treasury Select Committee has revealed how Bank of England (BoE) officials advised the bank on LIBOR.

Manchester United is set to float onto the New York Stock Exchange, seeking to raise $100m in an IPO.

DIAMOND

The FTSE 100 has risen in early trading as investors build on recent gains, but Barclays' share price remains volatile as investors react to CEO Bob Diamond's resignation.

The resignation of Barclays CEO Bob Diamond does not lessen the possibility of criminal proceedings against those involved, Chancellor George Osborne has warned.

Barclays boss Bob Diamond has resigned from the bank with immediate effect, just one day ahead of a parliamentary hearing into his conduct following the LIBOR scandal.

The government has ordered a parliamentary inquiry into professional and cultural standards in British banking less than a week after Barclays was fined for attempting to fix Libor and its European equivalent, Euribor.