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Banks: one step forward, many more to go
Amid the slurry of excessive bonuses and the exploitation of unsuspecting small and medium-sized businesses, the government has had a dramatic change of heart on banking.
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Amid the slurry of excessive bonuses and the exploitation of unsuspecting small and medium-sized businesses, the government has had a dramatic change of heart on banking.
Barclays chief executive Antony Jenkins says he is “shredding” Bob Diamond’s legacy as he tells MPs that bonuses will be cut to compensate people wrongly sold financial products.
George Osborne is threatening to break up banks if they fail to ring-fence risky investment banking activity away from their retail operations.
It’s amazing isn’t it, that five years on from the banking crisis, bank bosses are still having to forego their bonuses for bad behaviour. Today it was the turn of Antony Jenkins.
If overhaul of America’s healthcare system defined Barack Obama’s first term, then the consequences of the massacre at Newtown may well define his second. Channel 4 News assesses his chances.
On the markets, it’s all about junk bonds in the race to make a quick buck. But isn’t this the market that has just experienced the worst financial meltdown in memory?
As HMV enters administration, Channel 4 News examines whether this is the end for the 92-year-old high street chain – or if it can live on.
London is luring French companies with the promise of lower taxes, as millionaires including musician Jean-Michel Jarre threaten to flee President Hollande’s controversial tax on top earners.
From the euro crisis to Facebook’s IPO, Spain’s banks and the fiscal cliff, 2012 was bursting with business news – even knocking the royal baby off the front pages (on occasion). Here’s the countdown.
The ring-fence between Britain’s high street and investment banks is not effective and needs to be strengthened, say MPs in a highly critical report.
As the banking commission calls for an “electrified” ring fence around banks’ riskier business methods, Siobhan Kennedy meets a hotelier whose life was ruined by one of these practices.
As the banking commission demands stronger ring-fencing of retail banks from their casino arm, Vince Cable seems to be wavering in his commitment to break up banks that are “too big to fail”.
Banks sold small businesses interest rate swaps to protect them from increases in interest rates. The problem is, hidden penalties began to kick in when the rates tumbled.
The Serious Fraud Office confirms that three British nationals have been taken to a London police station as part of the investigation into the rigging of the Libor interbank lending rate.
As Deputy Prime Minister Nick Clegg joins European leaders in Oslo to receive the Nobel peace prize, the message ringing out from speeches is that the the EU may be mind-numbing and regularly mistaken – but jaw-jaw is better than war-war.