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A little advice, Mr Carney … your credibility will be crucial

Bank Of England Logo

Mark Carney, the high-flying Canadian hand-picked by the chancellor to run the Bank of England, could hardly have heavier expectations weighing on his shoulders when he starts his new job tomorrow – Canada Day. George Osborne is hoping the slick former Goldman Sachs banker will shake up the fusty corridors of Threadneedle Street, fix the fragile banking system and put a rocket under the recovery.

Citi rebuilds commodities trading

Citi Building Sign

An exclusive club of banks that has long dominated commodities trading is opening up as some big players shrink, allowing rivals to expand their trading teams in anticipation of better profits when the global economy picks ups.

Thomson Reuters - Global M&A at four-year low

Lanes Merge Road Sign

Mergers and acquisitions around the world slowed to their most sluggish pace since 2009 in the first half of 2013, Thomson Reuters data shows, as recession-hit European companies put the brakes on transactions and their healthier U.S. counterparts took a cautious approach amid market uncertainty.

Barclays warns on new capital rules

Barclays Bike

Barclays has warned that it could rein in lending to households and businesses due to a new demand by the Bank of England that could force it to hold billions more pounds of capital.

Sir Mervyn King's great Bank of England myth

Mervyn King Still

As he departs, Sir Mervyn King cannot be allowed to get away with a myth he has been promoting for years – the notion that the Bank of England was somehow a lone voice of sanity in the pre-crisis years and that its warnings of impending disaster for the banking system fell on deaf ears.



Tax & Business Calculator

Ex-UBS manager avoids jail

A former Swiss banker who pleaded guilty to aiding Americans hide money from U.S. tax authorities was sentenced to five years probation and fined $150,000 in a West Palm Beach federal court on Monday, his lawyer said.