News Josef Ackermann spoke of ‘shock’ at the suspected suicide of his colleague

Josef Ackermann, the chairman of Switzerland’s top-ranking Zurich Insurance Group and a former head of Deutsche Bank, has stepped down with immediate effect following the suspected suicide of the company’s chief financial officer.

RBS hit with £5.6m fine over reporting failures on 45 million transactions

Taxpayer-backed bank failed to properly report almost 45 million deals on wholesale money markets

Banks face stringent new audit controls

Banks and other financial institutions are set to face a beefed up internal auditing regime under a new code for auditors unveiled today.

James Moore: Furse needs to shake off the Fortis factor

Outlook Clara Furse's appointment to the Financial Policy Committee of the Bank of England has taken a considerable amount of flak thanks to her previous role on the board of Fortis.

An FSA report found that chief executive Fred Goodwin's 'assertive and robust' management style was flagged as a potential risk to RBS as early as 2003, four years before the disastrous ABN Amro deal

Vince Cable urges quick decision on RBS prosecution

Business secretary says there is 'serious public concern' over actions of lender's leadership before £45.5bn taxpayer bailout

Margareta Pagano: Don't blame Mrs T for today's fractured Britain

The City was shaken up under Margaret Thatcher but she would not have tolerated the bonuses, credit bubbles and bailouts

UBS pays £17m 'golden hello' to the man who broke RBS

Andrea Orcel paid in cash and shares after being poached by the Swiss bank
George Osborne in Davos

Osborne warns bankers Libor fines will come out of bonuses

Royal Bank of Scotland braced for huge fine

James Moore: It's far too easy to make FSA the scapegoat again in this inquiry into RBS wrongdoing

The Treasury Select Committee has cast another very unfavourable light on the performance of Britain's financial regulator and not without good reason. There have been years of this sort of thing: institution fails, scandal erupts, mea culpa follows from the Financial Services Authority promising that lessons will be learned. Only for complacency to return when the dust has settled. In giving it a kicking, and I'm not saying it isn't deserved, the committee is tapping into a rich seam of public fury. It really isn't good enough that in having wreaked such damage on the futures of so many, nobody from Royal Bank of Scotland has faced any penalty.

RBS sells historic tockbroker Hoare Govett to Jefferies

Royal Bank of Scotland has confirmed the sale of its historic UK stockbroking arm Hoare Govett to the US investment bank Jefferies. The pair have been in talks for weeks over the deal, which comes as RBS's chief executive, Stephen Hester, scales back dramatically the bank's investment banking division.

Former RBS chief Sir Fred Goodwin

Goodwin's knighthood on the agenda

Senior civil servants will meet this week to decide whether ex-Royal Bank of Scotland boss Sir Fred Goodwin should be stripped of his knighthood, David Cameron said today.

Criticism of Sir Fred Goodwin removed from FSA report

A direct criticism of Sir Fred Goodwin in the Financial Services Authority's report on the near-collapse of RBS was removed after a final draft was shown to the former banking boss's lawyers, MPs were told today.

The FSA identified six key factors in the failure of RBS, most significantly its weak capital position and over-reliance on risky short-term funding in wholesale markets

Management and light-touch regulation blamed for RBS crisis

Poor management decisions and the last Labour government's light-touch regulatory regime were key factors in the near-collapse of Royal Bank of Scotland, a long-awaited report by the City watchdog said today.

Former RBS chief Sir Fred Goodwin

Fears raised over RBS chief in 2003

Sir Fred Goodwin's "assertive and robust" management style was flagged as a potential risk to RBS as early as 2003, the FSA said today.

Cable seeking advice on RBS chiefs

Business Secretary Vince Cable today said he will continue to look into whether any Royal Bank of Scotland directors should face disqualification following today's report into the bank's failure.

City regulator to admit shortcomings in RBS case

The Financial Services Authority will today hold its hands up and admit serious shortcomings in the way it handled the Royal Bank of Scotland and the banking system in the run-up to the multi-billion pound taxpayer-funded bailout of the Edinburgh-based giant.

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Turkey-Kurdish conflict: Obama's deal with Ankara is a betrayal of Syrian Kurds and may not even weaken Isis

US betrayal of old ally brings limited reward

Since the accord, the Turks have only waged war on Kurds while no US bomber has used Incirlik airbase, says Patrick Cockburn
VIPs gather for opening of second Suez Canal - but doubts linger over security

'A gift from Egypt to the rest of the world'

VIPs gather for opening of second Suez Canal - but is it really needed?
Jeremy Corbyn dresses abysmally. That's a great thing because it's genuine

Jeremy Corbyn dresses abysmally. That's a great thing because it's genuine

Fashion editor, Alexander Fury, applauds a man who clearly has more important things on his mind
The male menopause and intimations of mortality

Aches, pains and an inkling of mortality

So the male menopause is real, they say, but what would the Victorians, 'old' at 30, think of that, asks DJ Taylor
Man Booker Prize 2015: Anna Smaill - How can I possibly be on the list with these writers I have idolised?

'How can I possibly be on the list with these writers I have idolised?'

Man Booker Prize nominee Anna Smaill on the rise of Kiwi lit
Bettany Hughes interview: The historian on how Socrates would have solved Greece's problems

Bettany Hughes interview

The historian on how Socrates would have solved Greece's problems
Art of the state: Pyongyang propaganda posters to be exhibited in China

Art of the state

Pyongyang propaganda posters to be exhibited in China
Mildreds and Vanilla Black have given vegetarian food a makeover in new cookbooks

Vegetarian food gets a makeover

Long-time vegetarian Holly Williams tries to recreate some of the inventive recipes in Mildreds and Vanilla Black's new cookbooks
The haunting of Shirley Jackson: Was the gothic author's life really as bleak as her fiction?

The haunting of Shirley Jackson

Was the gothic author's life really as bleak as her fiction?
Bill Granger recipes: Heading off on holiday? Try out our chef's seaside-inspired dishes...

Bill Granger's seaside-inspired recipes

These dishes are so easy to make, our chef is almost embarrassed to call them recipes
Ashes 2015: Tourists are limp, leaderless and distinctly UnAustralian

Tourists are limp, leaderless and distinctly UnAustralian

A woefully out-of-form Michael Clarke embodies his team's fragile Ashes campaign, says Michael Calvin
Blairites be warned, this could be the moment Labour turns into Syriza

Andrew Grice: Inside Westminster

Blairites be warned, this could be the moment Labour turns into Syriza
HMS Victory: The mystery of Britain's worst naval disaster is finally solved - 271 years later

The mystery of Britain's worst naval disaster is finally solved - 271 years later

Exclusive: David Keys reveals the research that finally explains why HMS Victory went down with the loss of 1,100 lives
Survivors of the Nagasaki atomic bomb attack: Japan must not abandon its post-war pacifism

'I saw people so injured you couldn't tell if they were dead or alive'

Nagasaki survivors on why Japan must not abandon its post-war pacifism
Jon Stewart: The voice of Democrats who felt Obama had failed to deliver on his 'Yes We Can' slogan, and the voter he tried hardest to keep onside

The voter Obama tried hardest to keep onside

Outgoing The Daily Show host, Jon Stewart, became the voice of Democrats who felt the President had failed to deliver on his ‘Yes We Can’ slogan. Tim Walker charts the ups and downs of their 10-year relationship on screen