A New York-based investment adviser filed a class action lawsuit against Barclays on Friday alleging that rigged foreign exchange trading practices at the bank caused "significant damages" to its trading partners.
China’s efforts to make the yuan an international currency on a par with the US dollar are to receive a fillip with the International Monetary Fund widely expected to add it to a special basket of global currencies.
French Connection will leave its shop on London’s Regent Street and shut seven unprofitable stores as the lossmaking fashion brand accelerates its closure programme.
ICBC Standard Bank, until recently the investment banking unit of South Africa’s Standard Bank, is preparing to pay up to $40m (£26.59m) in UK fines as part of the first deferred prosecution deal secured by the Serious Fraud Office.
Britain’s biggest lenders are braced for a decision by the Bank of England on whether they are strong enough to withstand turmoil in global markets, as Threadneedle Street considers restrictions on their activities to slow down the growth in consumer lending.
Rising property costs in central London could lead to a wave of businesses relocating outside the capital, research has claimed.
An epic four-day splurge by consumers shopping online is expected to result in retailers breaking sales records. Between Black Friday last week and the close of Cyber Monday, shoppers will have spent more than £3bn, analysts believe.
Less than two months ago, the finance ministers of the G20 gathered for a celebratory dinner in Peru to mark agreement on a “once-in-a-century” package of reforms to combat tax avoidance by multinational corporations that is costing governments up to $240bn a year.
The UK economy has slowed after poor overseas trade figures put a record drag on growth, leaving household spending to drive the recovery and casting further doubt on George Osborne’s hopes that strong tax receipts will help him hit ambitious budget targets.