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Barclays Closes Controversial Tax Avoidance Unit

Barclays Building Sign

The new chief executive of Barclays is to close the bank's controversial tax avoidance unit in a bid to repair its battered reputation, although he still risks inflaming the row over City pay by paying out up to £2bn in bonuses.

The Ghost of ABN Amro Haunts Europe's Banks

ABN Amro Office Building

The promise of unlimited bond buying by the European Central Bank and a major rally in bank stocks and bonds weren't enough to stave off a crisis for Italian bank Monte dei Paschi di Siena and the Dutch lender SNS Reaal in recent weeks.