News

Part nationalised bank Royal Bank of Scotland today reported clean operating profits had fallen sharply in the third quarter, while it had also taken a loss on its Greek debt holdings.

Bob Diamond, chief executive of Barclays, has said banks must accept responsibility for what went wrong during the financial crisis admitting they still had a long way to go to restore public trust.

The government will allow the Local Government Pension Scheme (LGPS) to ditch Lord Hutton's proposals for a career average scheme and keep the final salary arrangements, a source close to government said.

A British man has been arrested in Australia accused of faking his own death so his wife could claim life insurance.

The Insolvency Service has wound up two land banking firms in the latest clampdown on the fraudulent investment activity.

Bank of England governor Mervyn King said badly managed banks should be left to fold, as he demanded sweeping powers to force financial institutions to be more transparent.

The deputy governor of the Bank of England has revealed how the Monetary Policy Committee (MPC) nearly raised rates earlier this year, before the downturn hit markets.

ETF flows have been subdued this week as investors await a decision from the G20 before deciding where to allocate their cash, according to iShares.

Greece has scrapped plans to hold a referendum on the European debt deal thrashed out by ministers last week after the country's opposition leader publicly backed the proposals.

Members of the Unison trade union have voted in favour of strike action on 30 November in response to public sector pension reforms.