Parliament

Volatility expected for 'some months'

Has held role since 2010

PM May's success in sticking to timetable

Shadow cabinet members revealed

HSBC's senior executives have apologised to a committee of MPs for the failings in its Swiss private banking arm which meant clients avoided paying millions in tax.

It is 'possible' the coalition government could break up before the next general election in 2015, according to Vince Cable.

Members of parliament are set to receive a pay rise of more than £6,000 from 2015, though other allowances will be scaled back, the MPs expenses watchdog is set to recommend on Thursday.

The long-awaited Parliamentary Commission on Banking Standards report has criticised the government's handling of part-nationalised UK banks and recommended criminal sanctions for senior executives who behave "recklessly".

Senior backbench MPs are being lobbied to set up a powerful US-style committee that would scrutinise the public finances as a whole and try to head off major fiscal disasters.

The UK economy may never recover the £66bn spent on rescuing Royal Bank of Scotland (RBS) and Lloyds, a new report has warned.