European Commission

The UK financial services industry's hand in European Union negotiations has been strengthened by the surprise appointment of a Conservative peer to the key role of EU commissioner for financial services.

Lloyds Banking Group has announced plans to float a 25% stake in its TSB business next month in a bid to meet European rules on state aid for banks.

The European Commission has accused 13 banks, including Barclays, HSBC and the Royal Bank of Scotland, of colluding to hamper competition in the credit derivatives market.

The European Parliament has voted against a ban on commission payments in Europe in a move placing it at odds with the FSA's stance under the incoming Retail Distribution Review (RDR).

The European Commission is consulting on potential changes to the UCITS framework with improvements to the regulation of money market funds, short-termism and harmonising the investment industry's approach to fund redemptions among the items on the agenda....

The government will be able to widen the scope for VCT investment after the European Commission approved its proposals.

The European Commission is considering offering Spain direct aid from the eurozone rescue fund to recapitalise distressed banks, as the country's government bond yields approach record highs.

Developed market shares were fleeting between positive and negative territory this afternoon as US jobs data disappointed and investor confidence in the eurozone weakened.

The European Commission has warned the eurozone will be back in recession this year despite "signs of stabilisation" on the continent.

HUNGARY