Economics / Markets

Mervyn King has claimed low capital requirements and inadequate limits on leverage have been the most "tragic" aspects of financial regulation.

Shares in major UK banks have plunged following reports Chancellor George Osborne will force lenders to ring fence their retail arms.

Two of the banking industry's biggest names were paid more than fifteen times their 2009 earnings last year, analysis suggests.

The government is set to force banks to ring-fence their retail operations from investment banking.

May's UK inflation reading remained unchanged from April, official figures have shown, giving Bank of England governor Sir Mervyn King some respite.

Greece's credit rating has been cut to the lowest level of any nation in the world after Standard & Poor's warned that the danger of a default by the country has risen significantly.

The International Monetary Fund (IMF) has shortlisted French finance minister Christine Lagarde and governor of the bank of Mexico Agustin Carstens for the top job as managing director.

Barclays will pay out compensation to all customers it sold payment protection insurance (PPI) who made a complaint before 20 April.

The Bank of England (BoE) today held interest rates at a record low as concerns about sluggish growth outweigh worries over high inflation.

Royal Bank of Scotland (RBS) group chief executive Stephen Hester has admitted the government's implicit subsidy to the industry may have fed into bankers' bonuses.