The logo of the Monte Dei Paschi di Siena bank in Milan. Photograph: Giuseppe Cacace/AFP/Getty Images. Graeme Wearden. Tuesday 6 December 2016 04.57 EST.
The Financial Conduct Authority has proposed a clamp down on trading in contracts for difference (CFDs), spread betting instruments popular with retail traders, triggering a steep sell-off in the sector's shares.
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Britain is in the midst of its 'first lost decade' since the 1860s, the Governor of the Bank of England warned last night.
The financial services sector made its highest ever tax contribution in the year to March 2016 - equivalent to 11.5 per cent of total UK government tax receipts.