European Commission

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

Germany and France have begun preliminary talks about a possible break-up of the eurozone, according to reports, amid fresh fears about the future of Italy after the nation's cost of borrowing hit a new record.

European regulators may be given new powers to suspend credit ratings of countries seeking or undergoing bailouts to prevent the "negative spillover effects to other countries", according to proposals for tougher regulation issued by the European Commission....