Facebook will disclose extensive financial information or go public by early 2012 following a $2bn private fund-raising which values the social networking site at $50bn, according to reports.

A family-owned hedge fund will offer investors the chance to use Twitter posts to gauge the mood of the stockmarket.

The Treasury and the FSA are proposing to extend the regulator's powers to discipline firms who flout EU regulations or decisions made under UCITS IV.

Sterling touched a three-month low against the dollar before rebounding as the Monetary Policy Committee (MPC) revealed continued division on interest rates while UK growth was revised down.

Ernst & Young (E&Y) "sat by silently" as Lehman Brothers tried to hide its financial problems from investors in the months before its collapse, US prosecutors have alleged in a lawsuit.

The Monetary Policy Committee's (MPC) Adam Posen has warned the Bank it should not try to compensate for its past mistakes in underestimating inflation by pushing up interest rates.

Britain's financial system is vulnerable to increased EU sovereign debt woes and bubbles in emerging market assets and junk bonds, the Bank of England (BoE) says.

Bank of England governor Mervyn King plotted a secret bailout of the world banking system using funds from four cash-rich nations, including the UK, in March 2008, according to a US embassy cable released by WikiLeaks.

Lifemark investors never had a chance of getting their money back on time, a leading actuary involved in the fund's restructuring says.

The trustee for the victims of Ponzi scheme fraudster Bernard Madoff has filed an $80m case in London's High Court of Justice against the swindler's UK operations.