UK taxpayers could lose more than $28.5bn if George Osborne presses ahead with the sale of the Government's remaining stake in Royal Bank of Scotland (RBS), according to an official forecast published on Wednesday.
Wall Street banks are pulling away from coal project financing as U.S. energy consumers are less dependent on the natural resource.
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Asda has confirmed plans to cut up to 500 jobs in stores and 250 at its head office in Leeds as the retailer battles to protect profits while sales slide.
The North Sea oil industry, once a huge moneyspinner for the Treasury, is set to become a £1bn burden for the taxpayer next year as the plunging crude price hits revenues.
Measures targeted at an army of overseas sellers using Amazon and eBay to evade VAT were at the heart of a £12bn tax clampdown announced by the chancellor.
After adding jobs for years, big banks have been making cuts in the face of disappointing performance and plunging share prices.
Jefferies reported a fiscal first-quarter loss as revenue from trading stocks and bonds tumbled 82%, leaving CEO Richard Handler vowing to do better.
More angst in the investment banking industry.
Cutting 6,000 positions in 100 days.
The Securities and Exchange Commission has announced that public accounting firm Ernst & Young has agreed to pay $9.3m to settle charges that two of the firm’s audit partners got too close to their clients on a personal level and violated rules that ensure firms maintain their objectivity and impartiality during audits.
The chief of the embattled consumer bank told CNBC's Jim Cramer last week that "when we don't meet our goals with 100% right, I'm accountable."
Michael Findlay, Bank of America’s co-head of investment banking for the U.K. and Ireland, is planning to leave the bank to pursue a career outside of the industry, the firm said Friday.