Vince Cable has been forced to defend a report drawn up by one his advisers which accuses Royal Bank of Scotland of deliberately forcing viable businesses to the brink to make profits for the bailed-out bank.
Why are we giving Bitcoin house room? Surely it is akin to a counterfeiting scam promoted by people who like the idea of their computer making them rich without lifting much more than a finger?
City regulators have been handed a dossier of evidence compiled by an adviser to Vince Cable which claims that Royal Bank of Scotland was deliberately wrecking viable small businesses to make profits for the bailed out bank.
Yet another dark cloud is looming over global banks as officials examine their behaviour in the massive foreign exchange market, threatening to deal a new blow to earnings and reputations.
Foreign-exchange traders were asked to come in for interviews by the U.K. markets regulator as the probe into currency-rigging widens, two people with knowledge of the investigation said.
BlackRock and Fidelity Investments will be studied by U.S. regulators who are in the early stages of reviewing whether asset managers pose a potential risk to the financial system, two people with knowledge of the matter said.
The Financial Conduct Authority has warned City firms to strengthen their defences against financial crime after it found serious failures in wealth and asset managers' anti-money laundering and corruption measures.
Barclays has become caught up in the new investigation by global regulators into the potential manipulation of the £3tn-a-day currency markets, in the latest set back for bank as it attempts to cleanup in its reputation in the wake of the Libor rigging scandal.
The Libor rigging scandal was reignited on Tuesday, forcing the chairman of Rabobank to quit after the Dutch bank was fined €774m (£662m) for rigging the benchmark interest rate.
UBS has said it has taken and will take personnel measures as it conducts an internal review of its foreign exchange business, which is being examined by regulators.
JP Morgan reached a $5.1bn (£3.2bn) settlement with the US mortgage company regulator on Friday as the bank continues to negotiate with the justice department over what is expected to be an even larger fine related to bond sales.
The Bank of England is to begin consulting over a pay code for top City firms next year to incorporate the recommendation of an influential parliamentary report that bonuses should be deferred over 10 years.