Our national debt is a crisis but at least we got a good dance track out of it Economics Monday 24 November 2008, and MPs are gripped by one of the most consequential parliamentary debates of the past 30 years. As Chancellor, the late Alistair Darling had just told the House that his pre-Budget statement was being “made against a background of economic uncertainty not seen for generations” and that they had gathered in [...]
FCA revokes ban on Libor traders after court overturns rate-rigging convictions Banking The financial watchdog has revoked bans it had placed on four City traders convicted of rigging Libor and Euribor interest rates after the Court of Appeal overturned their convictions. The Financial Conduct Authority (FCA) said on Friday it “has reviewed its regulatory action against individuals whose convictions have recently been overturned by the Court of [...]
Former City trader’s rate rigging conviction overturned Legal A former City trader previously convicted of rigging the Euribor interest rates has had his fraud conviction overturned. Christian Bittar, formerly a trader at Deutsche Bank, had his conviction overturned by the Court of Appeal on Friday after being sentenced to five years in prison for rigging the primary European interest rate, the Euro Interbank [...]
Markets should accept cheap money isn’t coming back September 29, 2026 We are no longer living in the post-financial crisis world, and the market needs to adjust, writes Helen Thomas.
Economists may have ignored the biggest reason for our productivity decline September 16, 2026 Productivity in the West has slowed dramatically since the late 2000s, but there is no consensus as to why.
Britain has the lowest level of millionaires since the financial crisis – and that’s no accident July 28, 2026 The number of millionaires in Britain has sunk to its lowest level since the 2008 financial crisis. Rich residents aren’t just fleeing because of policy choices like high levels of tax and the removal of non-dom status, but also a cultural hostility to wealth, says James Lawson It is no secret that the wealthy and [...]
Rachel Reeves to unveil next steps for ring-fencing reform at Mansion House July 13, 2026 Rachel Reeves will outline the next steps of her ring-fencing reforms at Mansion House on Tuesday, City AM can reveal, in what is expected to be one of her last acts in the Treasury. The Chancellor will launch a consultation to seek industry input on the implementation of a package of reforms announced in May, including the [...]
IMF warns AI cyberattacks could trigger global financial crisis May 8, 2026 Evermore sophisticated AI-powered cyberattacks could threaten the stability of the global financial system, The International Monetary Fund (IMF) has warned, as regulators race to contain a new generation of threats. In their new report, the IMF said extreme cyber incidents could spark liquidity pressures and solvency concerns across banks and financial institutions. The lender warned [...]
Economic optimism slumps to lowest level since records began April 22, 2026 Brits’ optimism in the state of the UK economy has fallen to the lowest level since records began in a fresh blow to Rachel Reeves, with the majority expecting the situation to get even worse. That’s according to new data from the latest Ipsos Economic Optimism Index (EOI), published the same day that the rate [...]
Bank of England: UK economy risks ‘large and overlapping’ shocks April 1, 2026 The Bank of England has issued a major warning that the financial system is facing increasing risks of “large, frequent and potentially overlapping shocks” amid the volatility from the Middle East war‘ and ongoing market risks’s impact on energy and global markets. In the latest meeting of the central bank’s Financial Policy Committee top officials [...]