BBA In Talks About Payments Council Merger

By Mark Kleinman, City Editor The banking industry's main lobbying group is considering proposals to merge with at least two of its peers amid pressure from leading members to reduce costs levied by trade organisations. Sky News understands that...

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Top City Banker To Pay £450,000 FCA Penalty

By Mark Kleinman, City Editor One of the City's top financiers is poised to pay a £450,000 fine after deciding to accept a market abuse ruling by the Financial Conduct Authority (FCA). Sky News understands that Ian Hannam, a banker who became known...

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Malaysia Airlines Offers Passenger Refunds

Malaysia Airlines is to refund fares for passengers no longer wishing to travel on the carrier, Sky News has confirmed. Previously booked passengers due to fly up to and including July 25 can seek a refund without incurring any penalty. The decision...

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BBA: City Sanctions Regime Needs Overhaul

By Mark Kleinman, City Editor Procedures for punishing bankers who breach City rules require urgent changes, including the option of "part-settlement" of cases brought by regulators, the banking industry lobbying group has said. In a submission...

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Newly-Listed TSB Says Yes To £1.4bn UKAR Bid

State 'Bad Bank' Plots £1.5bn Mortgage Sale Updated: 3:07pm UK, Tuesday 03 June 2014 By Mark Kleinman, City Editor The state-owned 'bad bank' which holds the remnants of Bradford & Bingley and Northern Rock is to sell a £1.5bn mortgage portfolio...

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UK Economy Forecast To Outstrip Global Rivals

The UK economy is forecast to grow faster this year than any other country in the group of G7 developed nations. A report by the Ernst and Young Item Club - an influential economic forecasting group - predicts GDP will hit 3.1% this year. But it says...

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Scotland Currency Union? 'It's A Dead Parrot'

The idea Scotland would be able to hold on to the pound in the event of independence is a "dead parrot", MPs have warned. The country's first minister was told he urgently needed to come up with a plan B on how Scotland would proceed without a "currency...

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Savers To Get Free Advice On Pension Pots

Millions of people are to be given free, impartial advice on how to make the most of their retirement savings. It follows changes announced by the Chancellor in the Budget, which give savers more flexible access to their pension pots and crucially,...

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Tesco Chief Philip Clarke To Step Down

Tesco's chief executive Philip Clarke is to quit after a string of poor results for the supermarket giant. The group, which is seeing its worst sales performance in four decades, announced Mr Clarke's departure as it issued a fresh warning on profits....

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Fraud Probe Into Foreign Exchange Market

The Serious Fraud Office has opened a criminal investigation into allegations of fraud in the foreign exchange market. Britain's financial watchdog Financial Conduct Authority (FCA) in October joined other regulators around the world in investigating...

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