The proliferation of illegal credit providers is not just a regulatory failure but a symptom of the broader inequalities entrenched in the country’s financial system

UK finance minister George Osborne says Britain must stick to its austerity drive and avoid tax cuts while it tries to wipe out a record deficit.

Russian billionaire Alexander Lebedev threw punches at a fellow businessman during a television talk show, sending the property developer flying.

Experts say Europe is digging an ever-deeper hole as it vows to resolve the euro zone crisis.

The EU has agreed that banks must be strengthened after July stress tests found a "systemic" crisis in sovereign debt threatened a credit crunch.

Greek Finance Minister Evangelos Venizelos has announced budget cuts totalling around €2-billion in exchange for a rescue package.

The exit of Juergen Stark could hardly have come at a worse time for euro zone policymakers as they grope for a way out of their financial crisis.

Vague pledges and a lack of action by G7 countries underscored differences between Europe and the US and a lack of room to manoeuvre.

While the financial world worries about a double-dip recession South African banks reported a decrease in bad debts.

The United States surged into action on Friday to launch an all-out attack against the worst financial crisis since the Great Depression.

World stocks fell towards this week’s 21-month low on Thursday as fresh concerns resurfaced over the financial sector.