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.

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.

HOPES of more interest rate cuts resulted in Irish stocks surging more than 6% yesterday led by the country’s banks.

Wall Street ended a tumultuous two-week run relatively quietly today, finishing another back-and-forth session mixed as investors were cheered by signs of easing in the credit markets and managed to absorb lacklustre economic news with equanimity.

Asian stock markets slipped in early trade today, tracking Wall Street lower as investors cashed in profits following a two-day rally.