Economics / Markets

A Goldman Sachs executive has quit after criticising the "toxic" and "destructive" culture at the investment bank.

The government is considering issuing "super gilts" - bonds with a repayment date lasting 100 years or more - which it hopes will allow it to lock in the current record low base rate.

Part-nationalised banks Lloyds and Royal Bank of Scotland (RBS) have announced plans to cut some 1,900 jobs in a move the Unite union called "brutal".

The FSA has fined the head of European credit sales at Credit Suisse £210,000 for improper market conduct and disclosing confidential client information.

The UK economy is perpetually subjected to shocks and pressures, rendering hopes of maintaining financial stability indefinitely "over-optimistic", Monetary Policy Committee (MPC) member Paul Fisher said last night.

The Royal Bank of Scotland (RBS) and 17 former directors, including former CEO Fred Goodwin, have been hit with a £2.4bn legal claim from a group of investors.

FIVE THINGS

The Chancellor George Osborne is to set out a plan to reduce corporation tax to 20% in next week's Budget.

The Bank of England will keep interest rates at record lows for another three years, according to Capital Economics.

The pick of this week's articles on IFAonline...