The former heads of banks bailed out by the British state gave unreserved apologies on Tuesday for their conduct, and agreed changes to the bonus system were needed. The deposed…

British lawmakers will quiz top financial journalists on Wednesday about whether they held any responsibility in the banking crisis.

Britain bailed out three major banks with £37-billion on Monday as governments around Europe boosted confidence in the battered industry.

Major British banks are likely to announce their plans to recapitalise early on Monday.

Morgan Stanley topped the list of major financial firms scrambling to find a buyer on Thursday amid panicked stock and money markets.

Britain’s Labour Party suffered its worst local election defeat on record and lost control of London on Friday, forcing Prime Minister Gordon Brown to rethink his strategy to…

Thousands of customers queued to withdraw savings from embattled British bank Northern Rock on Monday and its shares plunged again, heightening pressure for a sale of the…