The Bank of England is cutting meal and hotel allowances for staff after coming under fire over a £390,000 travel bill racked up by two of its economics advisers.

The storm clouds of the next global financial crisis are gathering despite the world financial system being unprepared for another downturn, the deputy head of the International Monetary Fund has warned.

A pair of hedge funds owned by prominent Brexit supporters have made significant bets against companies exposed to the British consumer including big high street names.

Royal Bank of Scotland has ramped up its Brexit contingency plans, and is preparing to move a third of its investment bank clients and billions worth of assets out of the UK to Amsterdam.

Thousands of Barclays customers have threatened to switch to another bank unless it promises not to invest in pipelines for oil from tar sands, dubbed the “dirtiest fuel on the planet”.

Europe’s startup sector has a “shocking” lack of diversity, with 93% of all funds raised in 2018 going to all-male founding teams, according to a report by the investment firm Atomico.

Police in Germany have raided the offices of Deutsche Bank in connection with the Panama Papers revelations and as part of an investigation into alleged money laundering.

Britain crashing out of the European Union without a deal could trigger a deep and damaging recession with worse consequences for the UK economy than the 2008 financial crisis, the Bank of England has warned.

UK banks are strong enough to survive a disorderly Brexit and the worst-case scenario of a credit crunch-style economic shock, according to the Bank of England’s latest sector health check.

When Kweku Adoboli’s Kenya Airways flight touched down at Accra’s Kotoka international airport he was so dazed and confused he barely noticed the tropical temperatures, the spectacular palm trees or the rich, red bauxite earth of the country of his birth.