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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.

What's Missing In The RBS Settlement

RBS

There's something missing in the Libor settlements that the Royal Bank of Scotland reached last week with authorities in the U.S. and U.K. It's an omission that could impair investors' chances of recovering money lost due to banks' misbehavior.

Barclays Staff Await News On Bonuses

Barclays Building Sign

The 24,000 staff at the investment banking arm of Barclays will find out on Friday the size of their bonuses for 2012 – a year in which the reputation of the bank has been torn to shreds by the Libor rigging scandal as well as misselling of payment protection insurance and interest rate swaps.

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