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RBS Negative, Gives Up Libor Fight


Royal Bank of Scotland (RBS), the recipient of the world’s biggest banking bailout, had its credit outlook changed to negative from stable by Standard & Poor’s amid 'new failings' across the U.K. financial system.

Top 1% Control 39% of World's Wealth

Pot Of Gold

The wealthiest 1 percent now control 39 percent of the world's wealth, and their share is likely to grow in the coming years, according to a new report.

European Banks Set To Cash In On Subprime Sales


Europe's banks, which were among the biggest buyers of U.S. mortgage bonds before the financial crisis, are set to cash in on America's housing recovery by selling the once "toxic" assets back to U.S. lenders.

Britain and the Euro: What If We'd Joined ?

Five Euro Note

Ten years ago this week, it was euro crunch time for Britain. Gordon Brown had promised an assessment of whether the UK met his five tests for entry into the single currency within two years of the 2001 election. He met the deadline almost to the day.

Sir Mervyn King Plans 'Grey Gap Year'

Mervyn King

Sir Mervyn King is to become one of the growing number of high-profile business and finance figures to take a so-called "grey gap year" when he steps down as governor of the Bank of England at the end of this month.