The logo of the Monte Dei Paschi di Siena bank in Milan. Photograph: Giuseppe Cacace/AFP/Getty Images. Graeme Wearden. Tuesday 6 December 2016 05.13 EST.
The Financial Conduct Authority has proposed a clampdown on trading in contracts for difference (CFDs), spread betting instruments popular with retail traders, triggering a steep sell-off in the sector's shares.
The financial services sector paid a record �71.4 billion in tax last year, according to a study produced by PWC for the City of London Corporation.
Britain is in the midst of its 'first lost decade' since the 1860s, the Governor of the Bank of England warned last night.
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