Bank of England concern about the pound's strength has been revealed in comments from one of Threadneedle Street's top officials, who has said a further rise in sterling would damage hopes of an export boost to the economy.
UBS will restart investment banking operations in Brazil as early as this week, sources said, almost five years after the bank sold its highly profitable securities unit there following the global financial crisis.
Banks, hedge funds and fund managers will recoup all the cash they were owed by the UK arm of Lehman Brothers when it collapsed five years ago, and the administrators said on Wednesday they expect to be left with a £5bn surplus.
Bankers who earn more than $1.4m won the chance of a reprieve from European Union bonus curbs as regulators published a blueprint to implement rules on rewards for irresponsible risk-taking.
Ross McEwan may work in the same oversized office that used to be occupied by Fred Goodwin, but the bank he is running is already markedly different from the global empire that the disgraced Scottish banker built up before it collapsed into a £45bn taxpayer bailout in 2008.
Despite the refrain that the financial crisis has discouraged students from pursuing jobs in finance, the number of elite students who continue to seek lucrative positions at financial firms indicates that Wall Street has not yet lost its luster.
Hopes that the recovery kept up momentum at the close of last year will be boosted by a report suggesting businesses are enjoying their strongest growth since before the financial crisis.
Antony Jenkins, the boss of Barclays, warned yesterday that there would be another financial crisis once the current crop of bankers, who bore the scars of 2008, had retired or died. "I don't think we're going to have another crisis like this in the next five years, but we will have another problem when all the people like us … have retired or died."
It's a mystery.