MF Global Holdings, which filed for bankruptcy in 2011 after risking a $6.3 billion bet on bonds from some of Europe’s most indebted nations, is suing PricewaterhouseCoopers (PwC) for $1 billion (£600,000)
Russian President Vladimir Putin has vowed to build a Russian rival to financial transaction companies Visa and Mastercard as the US-led sanctions on Russian financial institutions begin to bite.
EU ministers have agreed to create a €54 billion (£46bn) fund, financed by the banking industry, to respond to future crises of failing eurozone banks.
The EU has made progress on the construction of a banking union, by agreeing on common rules for dealing with failed banks. The downside is that these rules won’t kick in until 2015.
Lloyds Banking Group, which is part-owned by the UK government, posted a profit of £2.1 billion in the first six months of 2013.