Papers

Britain's high street banks could incur another £130bn of losses in the next 18 months, ratings agency Moody's warned yesterday, on top of the £110bn hit they have taken on bad loans since the start of the financial crisis in 2007.

Two of Britain's biggest banks have laid out their defence of the bonus culture following new evidence that bankers are on course for another year of bonanza pay-outs, The Daily Telegraph says.

Homeowners are paying an average £1,800 a year extra for their mortgages as banks fail to pass on cuts in borrowing rates.

Tesco has emerged as a potential bidder for Northern Rock as the Government races to sell the state-owned lender before a general election, The Times has learnt.

City finance professionals are so worried about the future that nearly 30% are planning to leave London, according to a survey by jobs website eFinancialCareers.

Alistair Darling has predicted the recession will be over by Christmas, brushing aside doubts that his Budget forecasts are overoptimistic.

Mervyn King's pension increased by more than 10% last year to just under £200,000 a year during a period the governor of the Bank of England described as the "most challenging" for Threadneedle Street since it was granted independence in 1997, The Guardian...

An entire department of the Financial Services Authority (FSA) is at home in quarantine after a colleague returned from the US with probable swine flu.

Thousands of British jobs have been put in jeopardy by plans to merge the European operations of the American carmaker General Motors with its Italian rival Fiat in a deal that would create the world's second-largest autos group.

The managing director of the International Monetary Fund has raised doubts over the validity of Alistair Darling's Budget forecasts this week, declaring that the figures may have been intentionally over-optimistic, The Telegraph reports.