News

Industry trade bodies have criticised proposed changes to the Financial Services Compensation Scheme (FSCS) sourcebook, with the IMA calling for a "complete overhaul" of the scheme.

Fred Goodwin, the former CEO of Royal Bank of Scotland (RBS) stripped of a knighthood for his role in the bank's near collapse, is among several former RBS directors fighting claims they were at fault for the lender's troubles.

F&C has made a "very significant saving" after the Court of Appeal reduced the amount the group has to pay to two hedge fund managers following a 2011 High Court case.

Spanish short-term borrowing costs have risen substantially in its latest debt auction, reflecting the country's struggle to service its debts at a sustainable level.

SWIP's James Clunie has said he is shorting Unilever in the belief the market is "very complacent" over the stock's resilience.

Bank of England governor Mervyn King said he voted for more QE at the last meeting of the MPC because he is fearful over the outlook for Asia, emerging markets, and the US, as well as the ongoing eurozone crisis.

The Financial Services Authority (FSA) has publicly censured Kaupthing Singer and Friedlander Limited (KSFL) for failures in the assessment and reporting of its liquidity position in 2008.

Cyprus has told European authorities it intends to apply for a bailout, making the country the fifth eurozone country to request international aid.

Moody's Investors Service has downgraded the credit rating on 28 Spanish banks, including Banco Santander, less than a month after cutting the nation's sovereign rating.

The computer glitch which has seen NatWest customers unable to access their money for a week could cost RBS chief executive Stephen Hester his bonus, according to reports.