News

6 Feb 2012
Truth about banker pay: It's falling
British investment bankers are braced for deep slashes to their pay packets after a slowdown in trading saw their US rivals cut bonuses by up to 30 per cent. More »

5 Feb 2012
HARDTalk: Responsible Capitalism
Three financiers, Ken Costa, Nicola Horlick and Lord Richard Newby, discuss if capitalism can find a new moral compass. More »

28 Jan 2012
RBS chairman gives up £1.4m bonus
Bank announces that Sir Philip Hampton will not receive bonus amid controversy over decision to award RBS chief executive Stephen Hester £963,000. More »

26 Jan 2012
Davos 2012: complete coverage
A wide range of coverage on the current World Economic Forum taking place at Davos this week. More »

24 Jan 2012
UK debt passes £1 trillion for the first time
The UK Treasury has blamed "unsustainable" levels of spending by the last Labour government for public debt rising above £1 trillion for the first time. More »

19 Jan 2012
David Cameron's 'moral capitalism' speech
Read David Cameron's speech on 'moral capitalism' in full. More »

18 Jan 2012
How to pay the living wage in your borough
Islington borough has committed to paying and promoting the London living wage. More »

13 Jan 2012
Lloyds chief declines annual bonus
Antonio Horta-Osorio, chief executive of Lloyds Banking Group, has said he will not take an annual bonus for 2011. More »

9 Jan 2012
Chief executive pay outstrips company performance
Chief executives in 87 of the FTSE 100 companies took home £5.1m in basic pay, bonuses, share incentives and pension contributions in 2010-11, a new report reveals. More »

20 Dec 2011
Put aside the City's whingeing - Vince Cable
The threats posed by banking reform are exaggerated. The country's interests must come first. More »

19 Dec 2011
Has Europe lost its soul?
Stabilising the euro is one thing, healing the culture that surrounds it is another. A world in which material values are everything and spiritual values nothing is neither a stable state nor a good society. More »

9 Dec 2011
We're finding common ground between the City and Occupy activists
Ken Costa explores the common voice that is emerging in discussion about the role of finance in our society. More »

9 Dec 2011
Occupy London meets FSA and engages with the City
Last night, Occupy London - part of the global movement for social and economic justice - met with Hector Sants, CEO of the Financial Services Authority at St Ethelburga's Tent at the Centre for Reconciliation and Peace. More »

5 Dec 2011
London Connection brings Occupy London and FSA chief together
The initiative announced by the Bishop of London has begun a programme of dialogue and engagement starting with Hector Sants, Chief Executive of the Financial Services Authority. More »

2 Dec 2011
King tells bankers: Cut your bonuses to help us all
Banks must cut bonuses and use the money they save to protect themselves from the eurozone debt crisis the Governor of the Bank of England warned yesterday. More »

28 Nov 2011
UK on the brink of double-dip recession, warns OECD
Thinktank cuts growth forecast for UK following austerity measures and says unemployment could rise to 9.1% by 2013. More »

22 Nov 2011
Bankers's Pay 'Corrosive' for U.K. Economy
The soaring earnings of top bankers are having a "corrosive" effect on the U.K. economy, the High Pay Commission said. More »

21 Nov 2011
Bishops sign open letter criticising welfare reforms
Eighteen Church of England bishops have signed an open letter, criticising the government's proposed welfare changes. More »

4 Nov 2011
Banks must improve contribution to society
Banks must accept responsibility for past mistakes and show how they can contribute to society and economic growth or they could face more public unrest, the boss of one of Britain's top banks said on Thursday. More »

2 Nov 2011
St Paul's suspends legal action against protest camp
The Chapter of St Paul's Cathedral has unanimously agreed to suspend its current legal action against the protest camp outside the church. More »

28 Oct 2011
Occupy London protest issues demands to democratise City of London
Activists at St Paul's cathedral call for end to square mile's 'unconstitutional power and influence' and end of City police force. More »

28 Oct 2011
Directors' pay rose 50% in past year, says IDS report
Pay for the directors of the UK's top businesses rose 50% over the past year, a pay research company has said. More »

25 Oct 2011
Swiss Banks Said Ready to Reveal Clients
Swiss banks will probably settle a sweeping U.S. probe of offshore tax evasion by paying billions of dollars and handing over names of thousands of Americans who have secret accounts. More »

17 Oct 2011
'Occupy' is a response to economic permafrost
We've had nine months of political paralysis. And people have begun to feel the economic permafrost setting in. More »

10 Oct 2011
Investment banks need ethics as well as a desire to make money
Each major investment bank has a Code of Ethics. These are in practical terms useless. Opinion piece by John Reynolds. More »

28 Sep 2011
Financial markets face 'severe strains', warns BoE
Financial Policy Committee says banks might need to eat into capital cushions to keep credit flowing. More »

26 Sep 2011
Can eurozone banks be strengthened?
There was progress towards a eurozone rescue deal during the IMF's annual meeting in Washington, according to those present. But they caution that a workable proposal cannot yet be banked. More »

19 Sep 2011
Firms must explain top wages, Vince Cable.
Shareholders should have a bigger say on executive pay to ensure there are "no rewards for failure", Business Secretary Vince Cable has said. More »

19 Sep 2011
Obama to propose new tax rate for millionaires
The White House will propose a new tax rate for people earning more than $1 million a year to ensure that they pay at least the same percentage of their earnings in taxes as middle-income Americans. More »

15 Sep 2011
City rogue trader arrested over $2bn UBS loss
31-year old trader at UBS has been arrested by City of London police in connection with rogue trading that has cost the Swiss banking giant an estimated $2bn. More »

12 Sep 2011
UK to push through bank reforms
Britain's banks face some of the world's toughest regulations under reforms outlined on Monday, which require them to insulate their retail lending activities and store up billions in extra capital at a cost of up to 7 billion pounds ($11 billion). More »

8 Sep 2011
Business leaders plead for more quantitative easing
Business leaders are urging the Bank of England to authorise another £50bn of quantitative easing in order to boost bank lending and prevent the economy slipping back into recession. More »

7 Sep 2011
High 50p tax rate damages UK, say leading economists
Twenty leading economists have urged the government to drop the top 50p tax rate. More »

1 Sep 2011
Christianity and Capitalism: Investing in the Lord
The Bible tells us that the love of money is the root of all evil, yet the seemingly sin-ridden worlds of investments and big banking are cohabiting quite happily with Christianity. More »

31 Aug 2011
Vince Cable: Disingenuous bankers are trying to derail reforms
Banking sector using economic turmoil to argue against regulatory change, says business secretary. More »

17 Aug 2011
European markets hit by eurozone Robin Hood tax plans
German chancellor Angela Merkel and French president Nicolas Sarkozy propose new financial transaction tax. More »

1 Aug 2011
Civil servants' golden handshakes cost taxpayer £1bn
Civil servants made redundant because of Coalition cuts are receiving average redundancy payouts of more than £40,000 - four times those in the private sector. More »

29 Jul 2011
Big Society Capital opens with £600mil
The Government's much-vaunted Big Society bank launches with the name Big Society Capital today. More »

27 Jul 2011
Wellbeing index gets the go ahead
Government plans to rate happiness in the UK have been given the go-ahead, following a positive response from the public. More »

20 Jul 2011
Hacking scandal highlights need for human rights due diligence
The ever growing News International hacking scandal highlights two key lessons for all those who care about business ethics and corporate responsibility. More »

11 Jul 2011
Chruch of England threatens to pull News Corp investment
The Church of England has threatened to pull its £4 million investment in Rupert Murdoch's News Corp over the phone hacking scandal. More »

29 Jun 2011
New Church of England ethical investment policy on alcohol
A new ethical investment policy on alcohol has been adopted by the Church of England investing bodies following advice from the Church's Ethical Investment Advisory Group (EIAG). More »

27 Jun 2011
Archbishop calls for action on UK poverty
The Archbishop of York Dr John Sentamu has called for action to be taken to address UK poverty levels. More »

9 Jun 2011
Ministers hit back in Archbishop of Canterbury row
Ministers have defended their welfare, health and education policies after an attack by the Archbishop of Canterbury. More »

9 Jun 2011
Leader: The government needs to know how afraid people are
Archbishop of Canterbury: We are being committed to radical, long-term policies for which no one voted. More »

6 Jun 2011
Wage study shows rich-poor divide widening
Workers on low incomes have seen their pay increase by 27% over the past 30 years but wage rises for the top 10% of earners have been four times higher. More »

3 Jun 2011
Goldman Sachs subpoenaed for financial crisis role
New York prosecutors have asked Goldman Sachs to explain its behavior in the run-up to the financial crisis. More »

1 Jun 2011
New Ethical Investment Advisory Group Chairman appointed
The new Chairman of the Church of England's Ethical Investment Advisory Group (EIAG) is to be corporate lawyer James Featherby. More »

31 May 2011
Food prices to double by 2030, Oxfam warns
Charity says era of permanent food crisis will hit poorest people hardest and spark social unrest. More »

24 May 2011
What Moody's said today that hurt the banks
Moody's, a leading credit ratings agency, announced it was reviewing the credit ratings of fourteen UK banks and building societies for a possible downgrade. More »

24 May 2011
Cable launches Green Investment Bank advisory group
Business Secretary confirms Sir Adrian Montague as chairman of Green Investment Bank advisory group. More »

19 May 2011
Lloyd shareholders hit out at boss's £13m pay
Antonio Horta-Osorio, who joined from Santander, took up his post in March with a 'golden hello' pay and bonus package worth an estimated £13.4m. More »

18 May 2011
Companies warned over bribery precautions
Overzealous cuts to compliance departments after the financial crisis have left multinational companies exposed to fraud prosecutions, according to data released on Wednesday. More »

16 May 2011
Pay gap widening to Victorian levels
High pay commission forecasts top earners' slice of national income will rise from current 5% to 14% by 2030. More »

9 May 2011
British banks drop PPI mis-selling appeal
Britain's big banks have abandoned a controversial appeal over payment protection insurance, opening the way for billions of pounds in compensation for those mis-sold policies. More »

9 May 2011
God's Bankers: Evangelical Christianity in the City of London
Alex Preston asks how the disciples of evangelical Christianity reconcile their faith with the avarice of high finance. More »

9 May 2011
Rich list: it's like the recession never happened
Britain's wealthiest residents have recouped their losses from the financial crisis and are now just short of the record registered before the 2008 financial crash. More »

4 May 2011
Euro zone takes third debt crisis patient into care
Portugal's caretaker Prime Minister Jose Socrates announced late on Tuesday he had reached preliminary agreement with the EU, IMF and the European Central Bank for a three-year package of support... More »

4 May 2011
AFME hits back at calls for 'Robin Hood tax'
The Association of Financial Markets in Europe today called for a full study into the tax contribution made by the sector, as it claimed a transactions tax would "not be effective at any level". More »

15 Apr 2011
Identity fraud continues to rise
Identity fraudsters are increasingly applying for loans and credit cards, with instances of insurance and first party fraud also rising, says Experian. More »

14 Apr 2011
Goldman Sachs misled Congress after duping clients
Clients and Congress misled about the firm's bets on securities tied to the housing market, the chairman of the U.S. Senate panel that investigated the causes of the financial crisis said. More »

11 Apr 2011
Are Ethics for Suckers?
When even Warren Buffett looks bad, the financial world is begging for a backlash. More »

7 Apr 2011
BP unites Christians in opposition to high exec pay and poor safety
They may have their differences, but Catholic and Protestant investors have found some common ground - BP's levels of executive pay and its failure to tackle safety problems. More »

5 Apr 2011
UK economy faces 'worrying' times
The UK faces a fragile economic recovery, with a worrying overall picture, according to the British Chambers of Commerce (BCC). More »

5 Apr 2011
World economy facing numerous 'black swans', IMF chief warns
The global economy is facing a flock of "black swans", the head of the International Monetary Fund has warned. More »