The OECD has warned the UK is teetering on the edge of a double-dip recession, and has called for further quantitative easing to support the economy.

A Financial Policy Committee member has branded lobbying tactics by banks against tighter financial regulation as "intellectually dishonest and potentially damaging".

The former chief executive of AIG is suing the US government for $25bn for its 'unconstitutional' takeover of the insurer in 2008.

Bank of England governor Mervyn King appeared before the Treasury Select Committee this morning to answer questions on his inflation forecasts and quantitative easing programme.

The chairman of the FSA has suggested Parliament will have to give the Financial Conduct Authority (FCA), one of its successor bodies, even greater powers to protect consumers.

The governor of the Bank of England has said inflation is now at, or close to, its peak rate and will fall back "sharply" early next year.

Eurozone banks may have to raise €200bn to boost their capital reserves under a proposal from the European Banking Authority (EBA).

Standard and Poor's (S&P) has received notice from the Securities and Exchange Commission (SEC) recommending a lawsuit be brought against it over a mortgage-backed security it rated in 2007.

HOW DID WE GET HERE?

Adam Posen, the external member of the Bank of England's Monetary Policy Committee (MPC), has upped his call for more quantitative easing (QE) to £100bn and proposed a ‘public bank' for businesses struggling to find credit on the highstreet.