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Browsing: financial services

Business

Five banks fined £2 billion for forex rigging

Five banks have been fined a total of £2 billion by UK and US regulators for traders’ attempted manipulation of foreign exchange (FX) rates over a five year period.

RBS will not be split into ‘good’ and ‘bad’ banks

Royal Bank of Scotland has said that it will not split the company into ‘good’ and ‘bad’ banks, but instead ring fence a ‘bad bank’ of bad assets internally.

Huge growth for “payday loans” companies offering 7000% interest

Controversial payday loans companies, some charging interest rates as high as 7,000%, have experienced phenomenal growth since the start of the recession.

Politics

House Of Bankers: 16% Of Lords Are Paid By City Firms

The House of Lords is awash with voices from the City. According to research by the Bureau, 16% of active peers benefit from links to the financial services sector.