George Osborne

The resignation of Barclays CEO Bob Diamond does not lessen the possibility of criminal proceedings against those involved, Chancellor George Osborne has warned.

Chancellor George Osborne is to announce an inquiry into UK banking standards, with the Serious Fraud Office (SFO) also considering launching criminal prosecutions over the LIBOR rate-fixing scandal.

The reputation of the UK banking sector hit a new low last week after the FSA hit Barclays with its largest ever fine of £59.5m for breaching LIBOR regulations.

Governments across Europe are set to buy Spanish and Italian bonds through two European rescue funds, a move the ECB hopes will send a signal to financial markets that Germany is behind the eurozone.

The UK Chancellor George Osborne and the Bank of England's governor Mervyn King have unveiled a £100bn package to prop up the UK's flagging economy and protect it from the encroaching eurozone crisis.

Bankers have told Chancellor George Osborne any move by the government to protect savers in the event of a bank collapse would force them to increase borrowing costs.

The Chancellor, George Osborne, is taking legal action against the EU over plans to give a pan-European superviser far-reaching powers to ban or limit the short-selling of financial products, the Financial Times reports.

Chancellor George Osborne has done a U-turn on plans to cap tax relief on charitable donations.

Andrew Tyrie, the chairman of the Treasury Select Committee, has asked George Osborne to respond to suggestions from Barclays that retrospective tax action taken against the bank earlier this year was "unwarranted".

The Chancellor will not press ahead with the so-called 'pasty tax' after agreeing the plans were too complex and burdensome to business, according to reports.