A formal investigation has been launched by the City watchdog into Neil Woodford’s suspended equity income fund in the latest blow for the under-pressure investment guru.

Banking giant HSBC has announced it will keep its headquarters in the UK after a high-profile lengthy review.

fBritain’s major lenders are facing a full-scale competition probe over personal accounts and small business banking under plans set out by the watchdog today.

UK Insurance stocks were reeling again today after it emerged the City watchdog is to investigate policies which penalise people who want to switch providers.

Small businesses from Bath to Bradford are having their lifeblood sucked out by “vampire” banking practices, the author of a report alleging unscrupulous behaviour by Royal Bank of Scotland has told British MPs.

Barclays boss Antony Jenkins said he was "shredding" the legacy left by his predecessor Bob Diamond as he confirmed bonuses will be slashed following another £1bn (€1.15bn) provision to cover mis-selling scandals..

Downing Street has called for a speedy inquiry into allegations that Britain’s £300bn (€374bn) wholesale gas market has been “regularly” manipulated by some of the big power companies.

Downing Street has called for a speedy inquiry into allegations that Britain's £300bn (€374.8bn) wholesale gas market has been "regularly" manipulated by some of the big power companies.

A further seven banks have agreed to review the sale of complex financial products to small businesses and compensate customers where evidence of mis-selling is uncovered, the City watchdog said today.

Bank of England governor Sir Mervyn King launched a stinging attack on British banks today and called for a “real change in culture” as lenders became further embroiled in controversy.

Some of Britain’s biggest banks are facing a hefty compensation bill today after the City watchdog said it found “serious failings” in the sale of complex financial products to small businesses.

Serious Fraud Office investigators are in talks with the City watchdog in Britain over the Barclays rate-rigging scandal that has rocked the banking industry, Chancellor George Osborne said today.

Banking giant Barclays is to pay penalties of £290m to settle claims that it manipulated the interbank lending rate.

Investors were lured back into the market today by hopes of further stimulus measures in China and optimism ahead of a key EU summit.

One of the UK's most senior bankers at investment firm JP Morgan Cazenove resigned abruptly today after the City watchdog said it would fine him £450,000 for market abuse.

The bonus plans of Britain's biggest banks were under the spotlight again today as the City watchdog revealed it was stepping up pressure to curb excessive payouts.

Poor management decisions and the last Labour government’s light-touch regulatory regime were key factors in the near-collapse of Royal Bank of Scotland, a long-awaited report by the City watchdog said today.

UK taxpayer-backed Royal Bank of Scotland will stoke up controversy about bankers’ pay this week when it announces that 300 of its top staff received packages averaging £1m each last year.

Most financial institutions in the UK will be able to escape strict European rules aimed at curbing bankers’ bonuses under a new code issued today by the City watchdog.

The City regulator today defended its decision to take no action against bosses at part-nationalised Royal Bank of Scotland (RBS), but said new rules were needed to punish bankers who take too many risks.

The City watchdog today ruled out action against former bosses at Royal Bank of Scotland after finding no evidence of fraud or dishonest activity in the lead-up to the financial crisis.

Banking giant Goldman Sachs was fined £17.5m (€21m) by the UK’s Financial Services Authority today – the second biggest penalty ever issued by the City watchdog.

An alcoholic rogue trader who cost his company £6m (€7.4m) after a drunken golf weekend was today fined £72,000 (€89,000) and banned for a minimum of five years by the City watchdog.

A finance chief under investigation as part of a City watchdog inquiry into mortgage figure manipulation at British nationalised lender Northern Rock has left the business, it emerged today.

The head of City watchdog the Financial Services Authority is to step down in the summer, it was announced today.

The head of the City watchdog in the UK today said bankers had failed to take responsibility for the financial meltdown as he made a new call for reform in the industry.

British bank Barclays has been fined £2.45m (€2.8m) by the City watchdog for “serious weaknesses” in transaction reporting at its investment banking arm, it was announced today.

The health of UK banks is being tested against their ability to withstand the worst recession since the Second World War, the City watchdog said today.

The City watchdog in the UK is to hold an investigation into the events which led to the British government’s rescue of HBOS and Royal Bank of Scotland, it was reported today.

The banking whistleblower whose revelations forced the resignation of a senior Government adviser today called for British Prime Minister Gordon Brown to go for his part in creating the financial crisis.

The British banking system must undergo “profound” changes if a repeat of the current collapse is to be avoided in future, the head of the City watchdog warned.

The City of London’s “short-selling” ban and disclosure rules for UK financial stocks will not be lifted early, the City watchdog confirmed today.

Stock markets could see more volatile trading today as they react to the US Government’s planned US$700bn (€483.5bn) banking sector bail-out.

Britain’s banks should make plans for an economic downturn as bad as the early 1990s, the head of the City watchdog said today.

Halifax Bank of Scotland led a poor session for financial stocks today as shares returned below the company’s rights issue price of 275p a share.

Record oil prices cast a shadow over trading today as earlier momentum ebbed away to leave the London market in negative territory.

Gains for banking giant Barclays failed to keep the London market from slipping into the red today.

A volatile week for the FTSE 100 Index was underlined today after the index staged an 80 point turnaround to break back through the 5800 barrier.

British banks and housebuilders remained in the spotlight on the London market today after sustaining heavy falls in a late session sell-off yesterday.

The London market closed above the psychologically key 6000 barrier for the first time since February today thanks to strong gains in the mining sector and hopes of another cut in interest rates.

The City watchdog pledged today to shake up its supervision of the UK’s largest banks after admitting a series of blunders in its handling of the Northern Rock crisis.

Around 250 directors and senior staff of Halifax Bank of Scotland snapped up more than £6m (€7.7m) worth of the bank’s shares the day after last week’s dramatic price collapse.

A London-based hedge fund was today reported to have circulated rumours about UK companies in a bid to make money when their share prices fell.

The UK's City watchdog launched an inquiry into potential stock market abuse today after it said traders had been profiting from spreading false rumours.

The Competition Commission today said it had recommended that broadcaster BSkyB reduces its controversial 17.9% holding in ITV to below 7.5%.

BSkyB faced more regulatory scrutiny today after the City watchdog said it would investigate the broadcaster’s £125m (€185m) takeover of Alan Sugar’s Amstrad.

Private equity chiefs in the UK will face fresh scrutiny by the British parliament today amid reports they are making large gains from firms which pay almost no corporation tax.

Phillip Carter, who is missing following a helicopter crash, is an honorary vice-president of Chelsea and was on his way back from the club's Champions League semi-final against Liverpool.

Standard Life members are to be offered cut-price shares as part of the insurance giant’s planned flotation, sources said today.

DIY firm Kingfisher led the FTSE 100 Index higher today as renewed bid speculation caused investors to pile into its shares.