Three British banks have been subpoenaed in America over the possible manipulation of an important global interest rate.

EasyJet fended off an attempt to oust its chairman yesterday in the latest spat between the low-cost airline’s founder, Stelios Haji-Ioannou, and its directors.

EasyJet is set to rebuff an attempt by the low cost airline’s founder Sir Stelios Haji-Ioannou to oust Sir Michael Rake as chairman.

Britain's top four banks are reportedly set to take another £1bn (€1.28bn) hit for mis-selling payment protection insurance - bringing the industry total to nearly £8bn (€10.26bn).

The leadership crisis at Barclays continued to plague the embattled bank today after the frontrunner for the role of chairman confirmed his withdrawal from the race.

The leadership crisis at Barclays showed no signs of easing today after the frontrunner for the role of chairman reportedly withdrew from the race.

Bank of England boss Mervyn King told MPs he was not to blame for failing to spot the rate-rigging scandal engulfing the industry amid mounting accusations over the central bank’s role..

If we take Bob Diamond and Paul Tucker at their word, part of the Libor scandal at Barclays can be chalked up to a series of comic misunderstandings, like a children’s game of telephone.

Bob Diamond, the former boss of Barclays, has given up bonuses worth up to €25m following his resignation over a rate-fixing scandal, the bank’s chairman said in parliamentary testimony yesterday.

Former Barclays boss Bob Diamond has waived a potential £20m (€25m) in bonuses and share awards, but will still walk away with up to £2m (€2.5m).

Britain’s biggest banks were tonight embroiled in a criminal investigation after the Serious Fraud Office opened an official inquiry into the rate-rigging affair.

British banking giant Barclays today saw its credit rating outlook downgraded to negative to reflect concerns over the impact of Bob Diamond's shock resignation.

Former Barclays boss Bob Diamond today said the bank lowered key lending rates amid fears the British government would want to nationalise the lender during the financial crisis.

A phone call between Barclays boss Bob Diamond and the Bank of Englandultimately led to some of the rate-rigging actions at the heart of the ongoing banking scandal, the bank said yesterday.

It has been a chaotic week for investors, with shocks coming from major companies on both side of the Atlantic.

Barclays chief executive Bob Diamond resigned with immediate effect today in the wake of the rate-rigging scandal.

Pressure mounted for Barclays Plc chief executive Bob Diamond to quit after Britain’s third-biggest bank sacrificed its chairman over an interest rate rigging scandal that has dealt “a devastating blow” to its reputation.

Barclays shares rose 3% today as chairman Marcus Agius’s decision to step down in the wake of the rate-rigging scandal was backed by investors.

David Cameron today launched a full parliamentary inquiry into the rate-rigging scandal amid a wave of criticism of British banking.

The rate-rigging scandal claimed its first scalp today as Barclays confirmed its chairman Marcus Agius is to step down.

The chairman of a leading British bank is set to quite today as an interest-rate rigging scandal takes its first major scalp and threatens to widen to other banks, raising questions about the involvement of the Bank of England.

The chairman of UK banking giant Barclays apologised to shareholders today as he moved to head off a showdown over the pay of chief executive Bob Diamond.

London: British Prime Minister David Cameron left for China yesterday at the head of the largest ever British trade delegation as he tries to show off his new policy of business-focused diplomacy.

Barclays today reported a leap in first quarter profits to £1.82bn (€2.09bn), but shares came under pressure amid fears of a slowdown at its star investment banking arm.

Banking giant Barclays posted record annual profits of £11.6bn (€13.3bn) for 2009 today as its two most senior bosses turned down bonuses for the second year in a row.

The FTSE 100 stayed in the red today despite the continued rally in bank shares.

The attempt by Barclays to reassure investors over its funding position continued to buoy its shares and others in the banking sector today.

Barclays shares jumped 72% today after the bank took unprecedented steps to reassure investors that it remained well-funded and profitable.

Barclays shares ended a nine-day slump in dramatic fashion today after an open letter from management insisted the bank was well-funded and profitable.

Barclays shares surged 64% today after management moved to reassure shareholders in the wake of a nine-day losing streak for the bank.

Barclays shares rose more than 25% today after an open letter from the bank’s under-pressure bosses helped settle investor nerves.

Barclays wrote an open letter to the stock market today in an attempt to reassure investors after a slide in its shares over the past two weeks.

A New York-based activist investor has called on British bank Barclays to drop its takeover of Dutch rival ABN Amro.

A New York-based activist investor has called on Barclays to drop its takeover of Dutch rival ABN Amro, it emerged today.

British banking giant Barclays said today it was determined to see through its merger plans with Dutch rival ABN Amro, despite moves from a Royal Bank of Scotland led consortium to scupper the deal with a possible £49bn (€71.7bn) counterbid.

Barclays was on the verge of a new era today as the controversial tenure of chief executive-turned-chairman Matt Barrett draws to a close.

Banking giant Barclays today said that its “inspirational” chairman Matt Barrett will stand down at the end of the year to be replaced by Marcus Agius.

UK airports operator BAA continued its defence against Spanish firm Ferrovial today by telling shareholders its £8.75bn (€12.7bn) takeover offer “cannot be taken seriously”.