SAN FRANCISCO (MarketWatch) - Tuesday offered a good lesson in the dysfunction of Wall Street regulation both here and abroad. First, the European Commission announced a $92 million fine against J.P.
George Osborne suffered a fresh blow to his austerity programme today as a spike in government borrowing in September made his borrowing targets for this year very difficult to meet.
European rules to cap bankers' bonuses at twice fixed pay are �a retrograde step� that could add to difficulty in recruiting staff, according to the chairman of HSBC.
Construction equipment manufacturer JCB has announced it is to cut 150 jobs across its UK operation. Chief executive Graeme Macdonald said the firm had to cut its cost base due to a "severe decline" in world markets.
Lloyds Banking Group, the UK's biggest retail bank, is poised to unveil a �50m fund for small housebuilders in an attempt to address the deficit of affordable homes in the UK.