Co-operative Bank

The Co-operative Bank has revealed it must raise £400m via a new share issue after discovering additional costs related to PPI mis-selling.

Euan Sutherland, group chief executive of the troubled Co-operative Group, has offered to resign from his role less than a year in to the job, saying the company is "ungovernable".

The Financial Conduct Authority (FCA) has been grilled by MPs over its decision to approve the appointment of Paul Flowers to chair the Co-operative bank back in 2010.

The Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) have launched an investigation into failures at the Co-operative Bank which led to its recent £1.5bn rescue.

Paul Flowers, the former chairman of the Co-op Bank filmed apparently paying for drugs, has been arrested in connection with a "drugs supply investigation", according to reports.

Co-op Bank has secured a rescue deal with creditors over the weekend and will release details later today, according to reports.

A planned deal which would create one of the largest asset managers in Europe grabbed our readers' attention this week.

The former boss of the Co-op was lambasted by MPs for having ‘selective amnesia' after he claimed its stricken bank is an innocent victim of the financial crash.

The FCA has temporarily suspended 11 of Co-op Bank's bonds on the request of the company, pending an announcement of a rescue plan by parent company Co-op Group.

The Co-operative Bank has said it expects to shell out a further £100m in compensation to cover "revised" estimates on claims made over the sale of PPI.