British Banks came under fresh fire from MPs today for starving firms of much-needed credit while being propped up by billions of pounds from the taxpayer.

John Prescott was today recruiting thousands of supporters every hour to his campaign against part-nationalised Royal Bank of Scotland (RBS) paying out bonuses.

The removal of a ban on the short-selling of UK financial sector shares will provide a further test to under-pressure banking stocks today.

Oil prices have been spiralling due to the “inexorable” rise in global demand rather than because of speculators, British MPs were told today.

Northern Rock’s embattled bosses today denied there was anything more they could have done to prevent the crisis that led to the UK's first bank run in nearly 150 years.

Bank of England deputy governor John Gieve was accused today of being asleep on the job when the Northern Rock banking crisis erupted.

Mortgage lender Northern Rock has called on emergency funding from the Bank of England to help it through the credit market crisis, it has emerged.

The chairman of the British parliamentary financial watchdog tonight urged Northern Rock customers to stay calm amid rumours that the bank has applied for emergency financial support.

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.

CAMPAIGNERS yesterday hit out at plans by a leading British bank to set up a branch where only the wealthiest customers can receive face-to-face services.

Credit card companies were urged today to share more information on customers in a bid to stop people racking up unmanageable debt.