Almost half the victims of the Bernie Madoff ponzi investment scheme will get their money back after a $1.5bn payout was announced, The Times reports.
Trade minister Lord Green, the former CEO and chairman of HSBC, has been warned he has "serious questions" to answer over the bank's failure to stop money-laundering by drugs cartels and terrorists.
Imminent plans for another round of US quantitative easing were ruled out yesterday following the publication of the US Federal Reserve minutes, disappointing markets.
The US Federal Reserve raised concerns about LIBOR as early as 2007 and shared proposals for reform with the UK regulator, according to reports.
The International Monetary Fund has trimmed its US GDP forecasts and warned the nation's economic recovery remains fragile.