News

Ben Bernanke, chairman of the US Federal Reserve, branded LIBOR "structurally flawed" in his first remarks since Barclays was fined £290m for attempting to rig the inter-bank lending rate.

HSBC has apologised to the US Senate after the bank was found to have allowed drug money to be laundered through its accounts.

PIMCO's Bill Gross has predicted the US is poised to fall back into recession amid a climb in unemployment and tough times for corporates.

PIMCO CEO Mohamed El-Erian has dismissed reports tipping him to become the next prime minister of Egypt.

Caroline Keen has been promoted to lead manager on the £266m BNY Mellon Asian Equity fund, previously led by Jason Pidcock.

After two years of intense negotiations and 19 crisis summits, EU leaders are still deeply divided over what action is needed to solve the eurozone sovereign debt crisis.

Investors are now paying to hold European Financial Stability Facility debt, after six-month t-bills sold at a negative yield at auction for the first time ever.

Invesco Perpetual's Neil Woodford has given his backing to G4S chief executive Nick Buckles, saying the group's failure to deliver on its Olympic commitments is the fault of local management.

The governor of the Bank of England, Sir Mervyn King, has insisted he did not call for Bob Diamond's scalp before Barclays' former chief executive stepped down.

GMO's Jeremy Grantham has said there will be a number of opportunities for investors to snap up discounted European equities, as the crisis continues to roll on.