SYDNEY (Reuters) - A holiday lull settled over Asian markets on Tuesday after Wall Street closed at historic highs while oil prices suffered a stinging setback after Saudi Arabia quashed all thought of curbing supply.
CHANCELLOR George Osborne yesterday confirmed the government would make price-fixing in foreign exchange markets a criminal offence in 2015.
FINANCIAL market regulators have warned that if the fall in oil prices were sustained, it could be a problem for the UK's financial stability.
The sharp fall in the value of the rouble, coupled with the near-halving of the oil price, mean more bailouts are likely to be needed.
THE FINANCIAL Reporting Council (FRC), the regulator for the UK's accountancy industry, yesterday announced it was launching two separate investigations into the activities of professional services giant PwC.