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.

News
The guide, since withdrawn, used illustrations and text to help people understand the court process (Getty)
newsMinistry of Justice gets law 'terribly wrong' in its guide to courts
News
Bobbi Kristina Brown with her mother Whitney Houston in 2011
people
News
Starting the day with a three-egg omelette could make people more charitable, according to new research
scienceFeed someone a big omelette, and they may give twice as much, thanks to a compound in the eggs
News
Top Gun actor Val Kilmer lost his small claims court battle in Van Nuys with the landlord of his Malibu mansion to get back his deposit after wallpapering over the kitchen cabinets
people
News
The actress Geraldine McEwan was perhaps best known for playing Agatha Christie's detective, Miss Marple (Rex)
peopleShe won a Bafta in 1991 for her role in Oranges Are Not The Only Fruit
News
newsPatrick Cockburn was able to update his agenda-setting 'The Rise of Islamic State' while under attack in Baghdad
News
Robert Fraser, aka Groovy Bob
peopleA new show honours Robert Fraser, one of the era's forgotten players
Life and Style
Torsten Sherwood's Noook is a simple construction toy for creating mini-architecture
tech
Sport
David Silva celebrates with Sergio Aguero after equalising against Chelsea
footballChelsea 1 Manchester City 1
News
i100
Career Services

Day In a Page

Independent Travel
Pompeii, Capri & the Bay of Naples
Dubrovnik, the Dalmatian Coast & Montenegro
Burgundy, the River Rhone & Provence
Lisbon, Oporto and the Douro Valley
Lake Garda, Venice & Verona
Spain
Prices correct as of 30 January 2015
As in 1942, Germany must show restraint over Greece

As in 1942, Germany must show restraint over Greece

Mussolini tried to warn his ally of the danger of bringing the country to its knees. So should we, says Patrick Cockburn
Britain's widening poverty gap should be causing outrage at the start of the election campaign

The short stroll that should be our walk of shame

Courting the global elite has failed to benefit Britain, as the vast disparity in wealth on display in the capital shows
Homeless Veterans appeal: The rise of the working poor: when having a job cannot prevent poverty

Homeless Veterans appeal

The rise of the working poor: when having a job cannot prevent poverty
Prince Charles the saviour of the nation? A new book highlights concerns about how political he will be when he eventually becomes king

Prince Charles the saviour of the nation?

A new book highlights concerns about how political he will be when he eventually becomes king
How books can defeat Isis: Patrick Cockburn was able to update his agenda-setting 'The Rise of Islamic State' while under attack in Baghdad

How books can defeat Isis

Patrick Cockburn was able to update his agenda-setting 'The Rise of Islamic State' while under attack in Baghdad
Judith Hackitt: The myths of elf 'n' safety

Judith Hackitt: The myths of elf 'n' safety

She may be in charge of minimising our risks of injury, but the chair of the Health and Safety Executive still wants children to be able to hurt themselves
The open loathing between Barack Obama and Benjamin Netanyahu just got worse

The open loathing between Obama and Netanyahu just got worse

The Israeli PM's relationship with the Obama has always been chilly, but going over the President's head on Iran will do him no favours, says Rupert Cornwell
French chefs get 'le huff' as nation slips down global cuisine rankings

French chefs get 'le huff' as nation slips down global cuisine rankings

Fury at British best restaurants survey sees French magazine produce a rival list
Star choreographer Matthew Bourne gives young carers a chance to perform at Sadler's Wells

Young carers to make dance debut

What happened when superstar choreographer Matthew Bourne encouraged 27 teenage carers to think about themselves for once?
Design Council's 70th anniversary: Four of the most intriguing prototypes from Ones to Watch

Design Council's 70th anniversary

Four of the most intriguing prototypes from Ones to Watch
Dame Harriet Walter: The actress on learning what it is to age, plastic surgery, and her unease at being honoured by the establishment

Dame Harriet Walter interview

The actress on learning what it is to age, plastic surgery, and her unease at being honoured by the establishment
Art should not be a slave to the ideas driving it

Art should not be a slave to the ideas driving it

Critics of Tom Stoppard's new play seem to agree that cerebral can never trump character, says DJ Taylor
Bill Granger recipes: Our chef's winter salads will make you feel energised through February

Bill Granger's winter salads

Salads aren't just a bit on the side, says our chef - their crunch, colour and natural goodness are perfect for a midwinter pick-me-up
England vs Wales: Cool head George Ford ready to put out dragon fire

George Ford: Cool head ready to put out dragon fire

No 10’s calmness under pressure will be key for England in Cardiff
Michael Calvin: Time for Old Firm to put aside bigotry and forge new links

Michael Calvin's Last Word

Time for Old Firm to put aside bigotry and forge new links