Europe began a new campaign to shield economies from the coronavirus as the region’s two main central banks either delivered or signaled action to avoid a 2008-style crisis, and German Chancellor Angela Merkel promised to do “whatever is necessary”.

Facebook’s fledgling cryptocurrency is facing mounting scrutiny as European central bankers and regulators have now demanded more detail on the social media giant’s Libra project.

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.

Britain is expected to choose a new central bank chief this year to succeed Canadian Mark Carney, who will step down in June 2019, three months after the country’s scheduled exit from the EU. No one has yet thrown their hat into the ring to succeed him, but there are numerous contenders.

Royal Bank of Scotland (RBS) said its potential bill for claims against its small business restructuring division will remain at £400m (€448m) after misconduct allegations against it were dismissed by Britain’s financial regulator.

The head of a British parliamentary committee has asked a regulator to look into media reports, including one by Reuters, about movements in financial markets ahead of economic data releases that raised the possibility of leaks.

UK bankers may lose part or all of their bonuses even after they switch firms if they are responsible for losses at their previous employer, according to a Bank of England proposal.

Stiffer fines for banks caught rigging markets have not undermined financial stability or the solvency of lenders, a senior British regulator said yesterday.

Royal Bank of Scotland vowed there would be no repeat of a system crash two years ago that left millions of customers unable to make or receive payments, after it was fined £56m(€70m) by British regulators yesterday.

The Bank of England’s deputy governor has apparently softened its stance on plans to jail reckless senior bankers after a City backlash.

London: Bank of England deputy governor Andrew Bailey said the increasingly large fines banks face for poor conduct threaten to undermine efforts to recapitalise the industry.

Britain’s regulators have given the green light to five new banks since easing rules a year ago for new entrants to challenge the handful of dominant lenders.

BRITAIN’S banks are drawing up contingency plans in case there is a disorderly break-up of the eurozone or exit of some countries from the single currency as the sovereign debt crisis rages on, a top British regulator said yesterday.

Banking reforms need to move away from the “demonisation” of overpaid traders, the head of the UK's City regulator said.

AN ATM operator in Britain has launched a network of free cash machines that only dispense £5 (€6) notes.