Leaked bank account files have revealed that HSBC's Swiss banking branch took part in tax avoidance schemes, helping well-off customers hide millions of dollars in assets, untraceable cash and domestic tax loopholes, wrote The Guardian. A multi-billion-pound bonds windfall unveiled by chancellor Geo
Read more* $3.6 billion spent with contactless cards in 2014 * Proportion of purchases made with cards increases (Adds data from Barclays) By Matt Scuffham LONDON, Feb 6 (Reuters) - Spending using contactless payment cards more than trebled to 2.32 billion pounds ($3.6 billion) in Brit
Read moreLONDON, Feb 6 (Reuters) - Spending using contactless payment cards more than trebled to 2.32 billion pounds ($3.6 billion) in Britain during 2014, the UK Cards Association said on Friday. The trade body said debit and credit cards now accounted for 75.8 percent of retail sales in Britain, c
Read more(Clarifies who BBA wants to increase accountability for, para 8) * FICC traders would be required to hold qualification * BBA also backs extension of accountability regime * BBA says review a 'once-in-a-lifetime' opportunity By Steve Slater and Matt Scuffham LONDON,
Read moreLONDON, Feb 4 (Reuters) - Thousands of bond, currency and commodities traders in London should have to pass an exam and obtain a new qualification to trade as part of attempts to raise standards, Britain's bank lobby group said. The British Bankers' Association (BBA) said a "licence to trad
Read moreStandard & Poor's has downgraded a number of UK and European banks on Tuesday. Barclays and Lloyds were lowered by two notches to 'BBB', while Royal Bank of Scotland was downgraded two notches to 'BBB-' and S&P cut HSBC by a notch to 'A'. Standard Chartered was downgraded one level to 'A-', while t
Read moreBy Huw Jones LONDON, Feb 3 (Reuters) - The world's 30 biggest banks will have to issue more than $500 billion in bonds to comply with proposed global rules aimed at shielding taxpayers from the risk of future banking failures, credit rating agency Standard & Poor's (S&P) said on Tuesday.
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