A number of the UK's largest banks have warned the proposed changes to the country's regulatory system - including the scrapping of the FSA - will leave too much power in the hands of a small group.
The British Bankers' Association (BBA) has put together a working group to formulate an industry-wide response to the Government's proposals, reports the Telegraph.
However, such is the concern, most major UK banks are expected to make their fears known individually.
One source at a large UK bank said the lack of accountability was the biggest worry for the sector and would be the central complaint in responses to the Government's consultation on the new regulatory framework. Read more
BUSINESS confidence has fallen over the past three months, according to a survey, offering further evidence the recovery will be sluggish.
The latest business confidence monitor from the Institute of Chartered Accountants and Grant Thornton suggest that recovery will slow in the second half of the year, reports the Independent.
The index fell to 21.5 during the third quarter, which the report's authors take as the three months to July, from 25.5 in the previous quarter. Read more
SEVERAL FTSE 100-listed resources companies are set to face nervous markets this morning, in the first day of trading since Australia's indecisive election result over the weekend raised the spectre of more changes to Canberra's planned super-tax on mining industry profits.
Earlier this year, BHP Billiton, Rio Tinto and Xstrata agreed a watered-down set of proposals with Labor Prime Minister Julia Gillard, after she replaced Kevin Rudd as premier, reports the Independent.
Ms Gillard agreed to a 30% levy on the industry, after Mr Rudd's proposals for a 40% led to the miners threatening to withdraw investment from Australia. Read more
HOUSEHOLD FINANCES came under pressure on all fronts in August, according to market researchers Markit and YouGov.
Their survey of 2,000 households showed people were increasingly worried about losing their jobs and higher costs of living, reports the BBC.
The Household Finance Index suggests individuals are feeling few benefits from the growing economy.
Some 30% of polled households said their finances had worsened, compared to 6% who said they had improved.
Nearly 69% of respondents reported a rise in the price of their goods and services in August from July, the highest level since the survey began 18 months ago. Read more
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