US investment bank JP Morgan Chase has been fined US $920m (€688m) by regulators for “serious failings” over the London Whale trading scandal.

Swiss bank UBS agreed today to pay £940m (€1.1bn) to regulators in the biggest penalty yet from the industry’s Libor-rigging scandal.

Swiss banking giant UBS has been fined €36.3m by the UK's City watchdog for failings which allowed convicted rogue trader Kweku Adoboli to lose €1.72bn.

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.

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.

More banks in the UK could be caught in the scandal which saw Barclays pay £290m to settle claims that it used underhand tactics to try to rig financial markets.

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

Banking giant HSBC is set to pay out £40m in fines and compensation after one of its subsidiaries sold savings products to elderly customers who were likely to die before the recommended investment period was up, the UK's regulator said today.