Economic recovery in Britain will be slowed down by a possible credit shortfall of £180bn next year caused by the weakness of the banking sector and the state budget deficit, the International Monetary Fund (IMF) warned today.
Credit Suisse has rebounded from large losses at the start of the year to post a better than estimated CHF 1.2bn (£580m) profit in Q2.
Billionaire hedge fund manager John Paulson has warned global credit crisis write-downs and losses could reach $1.3trn.
The strength of emerging markets is the only thing preventing a full-blown global recession, Hexam's Marina Akopian believes.
The IMA has warned compensation levels are rising in the investment arena and the industry will be in trouble if it continues to allow or encourage unattainable client expectations.
European Central Bank chief Jean-Claude Trichet says the worst of the credit crisis may still be ahead.
Arrears at Northern Rock have increased due to a squeeze on the availability of mortgages in recent months.
Northern Rock's shareholders have begun a legal challenge against the Government to receive compensation for the shares lost when the bank was nationalised.
Northern Rock has revealed details of 2,000 redundancies to take place over the next few years.
Leader of the Conservative Party David Cameron says the FSA lacks expertise in key areas and should not be in charge of rescuing banks.