News

EU watchdogs are preparing to impose multi-million euro fines on six banks, including Royal Bank of Scotland and HSBC, where traders are suspected of having tried to manipulate Euribor interest rates.

US regulators plan to curb speculators

US regulators are considering sweeping changes to commodities trading to stamp out the excessive speculation that has been blamed for the volatility of oil prices. While real-world businesses that need to buy oil on the global markets would be unaffected, a vast industry of financial investors and speculators could face curbs on the size of their activities.

Derek Pain: Fresh thinking provides a greater Clarity

No Pain, No Gain

Soros calls for ban on credit default swaps

George Soros, the billionaire hedge fund manager, called for credit default swaps to be banned, saying these financial instruments had the potential to wreck individual companies and to bring down the banking system.

Lobbyists and agency rivals fight to shape the new Wall St

The Obama administration is grappling with inter-agency turf wars and an intensive rearguard lobbying effort by Wall Street as it tries to finalise its sweeping reform of financial regulation in the US.

US push to curb derivatives gathers steam

The US government and regulators are stepping up their efforts to bring the wilder reaches of the vast credit derivatives market under central supervision for the first time.

Obama's plan to purge US banks of toxic assets falters

The Obama administration's much-heralded $1 trillion (£626bn) plan to rid US banks of their toxic loans appears to be crumbling, amid disinterest from the very banks it was designed to help.

Exchange looks to life after Clara

Dame Clara Furse's departure will open a new chapter in the LSE's 300-year history. It may be the toughest one yet. Nick Clark reports

Jeremy Warner: Women bankers are no protection

Outlook Harriet Harman, Labour's deputy leader, would be well advised to read Gillian Tett's excellent new book on the origins of the banking crisis, Fool's Gold, before sounding off again on the merits of packing the boards of nationalised banks with women so as to protect us all from the supposed greed-fuelled recklessness of male bankers.

Wall Street baulks at Geithner's regulation reform plans

Treasury Secretary urged to delay federal involvement

White House orders legal action over bonuses for AIG traders

Employees at AIG's London-based derivatives business face losing $165m (£117m) in retention bonuses amidst a political firestorm in the US. Barack Obama stepped in to the row yesterday to order that AIG, which was nationalised by the US government to stop it going bust last year, use all legal means to avoid paying the bonuses.

Dow sinks to 12-year low on fears for AIG

Wall Street lurches downwards again amid more financial turmoil

Derivatives clearing to be introduced in July

The European Commission announced yesterday that credit default swaps will be cleared centrally from July. Regulators have been working with the industry to boost transparency and reduce risks in trading the instruments.

Credit Suisse posts record Sfr8bn losses

Another day, another unwanted record for the Swiss banking community. Just 24 hours after UBS posted the country's highest annual corporate loss, Credit Suisse revealed its own worst ever numbers, as losses in 2008 hit Sfr8.2bn (£4.9bn).

JPMorgan Chase faces lawsuits after pulling cash from Madoff

JPMorgan Chase, the banking giant, is bracing for lawsuits over the Madoff affair, after admitting that it pulled its own money out of hedge funds linked to the Wall Street swindler while leaving hundreds of European clients exposed.

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