News Emergency services were called to 25 Bank Street at around 8am this morning

Gabriel joined JPMorgan in 2004 and worked in technology. He was not a trader or a banker.

'Darth Vader' to head JPMorgan's inquiry into losses by London Whale

One of America's most notorious oil executives has been selected by JPMorgan to lead the internal inquiry into the $6bn (£3.8bn) of trading losses run up by the so-called London Whale.

Barclays, HSBC and Royal Bank of Scotland face US Libor inquiry

The rate-rigging scandal that has rocked the banking industry showed no signs of abating today as US authorities summoned three British banks for questioning.

Margareta Pagano: The same old banking model needs to change

Barclays and most of Wall Street's banks are backing Mitt Romney to be president as he will keep the status quo. But investors are shunning them

Satyajit Das: Libor warning signs were there, but no one acted

The definitions do not allow for consideration of derivatives trader' positions

JP Morgan botched bets lose £3.7bn

The losses racked up by disastrous trades at the London office of America's biggest bank nearly trebled to £3.7 billion, it emerged today.

LME shareholders to vote on takeover

Shareholders in the London Metal Exchange will vote on 25 July on a £1.4bn takeover offer by the Hong Kong stock exchange, which could deliver a payout of £7.4m for the LME's chief executive, Martin Abbott.

Daniel Pinto: If it's your money at stake, you don't gamble

Senior staff must lock up their bonuses in the products they sell

Wave of scandals 'puts reputation of Square Mile at risk'

Business leaders this weekend expressed major concerns that the wave of banking scandals could permanently damage the status of London as the world's greatest financial centre.

Stephen Foley: Moody's will tighten the vice on bank downgrades

US Outlook: Arbitrary! Backward looking! Completely unwarranted! Complaining by the banks downgraded by Moody's started the second the rating agency's actions hit the wire late on Thursday night. Citigroup sounded especially aggrieved at the two-notch cut to its credit rating, but all the affected institutions rushed out statements to assert that they have never been safer.

Invensys dives after Emerson walks away

Shares in Invensys tumbled by 14 per cent yesterday, after it was forced to make an embarrassing U-turn and admit US giant Emerson had made a £2bn-plus bid approach but gone away.

Business week in review

In profit...

Stephen Foley: Dimon causes a tangle

US Outlook Hedge/hej/*. A tangle of impenetrable bushes designed to obscure your activities from public view. (From the Oxford English Dictionary, as reimagined by Jamie Dimon.)

JP Morgan executives may have to return pay

Executives responsible for JP Morgan Chase's $2bn (£1.3bn)-plus trading losses will have some of their pay clawed back, the bank's chief executive, Jamie Dimon, told the US Congress yesterday.

Jamie Dimon to give evidence on $2bn loss

JPMorgan Chase was trying to prepare for new international regulations designed to make the financial system safer when it put on the disastrous hedging strategy that has cost it $2bn and counting.

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