News by: Himanshu Singh
Brussels' banking watchdog has warned that it could take legal action against the BoE if it fails to close a loophole on bankers’ bonuses.
And Sir Richard Branson’s challenger bank Virgin Money has put on ice its plans to float on the stock market.
The Dow Jones was down for the sixth day as investors remained cautious amid widening Ebola scare and plunging oil prices.
And the US drugs group AbbVie has pulled out of its proposed $54 billion takeover of Britain’s Shire after US gets tough on tax.
An afternoon rebound helped the S&P 500 pare its biggest intraday plunge since 2011.
And the EU has opened a fresh rift with the UK after declaring the use of “role-based allowances” for bankers to be a breach of the controversial bonus cap.
An earlier rally in benchmark indexes led by industrial companies was faded late in the session as energy shares slid with the price of oil.
And Dublin to shut Double Irish corporate tax loophole next year.
And UK high street and online stores suffer the weakest underlying performance since the depth of the 2008-09 recession.
The S&P 500 declines more than 1% and posted its worst three-day slide since November 2011 after worries that global economic weakness will dampen US earnings.
And senior bank executives unhappy with new rules to make them criminally liable for failures should resign, said Carney.
Stocks fell amid concern that pledges to keep record-low interest rates won’t be enough to offset a global economic slowdown.
Network Rail is in pole position for £50 million-plus Saudi Arabia contract.
And British exports have crashed to their lowest level for four years in a further sign the economy is slowing.
The selloff followed weak data from Germany and comments from a Fed official who suggested investors had unrealistic expectations about the Fed's eventual rate increase.
And Brussels is challenging the “double Irish” tax avoidance measure prized by big US tech and pharma groups.
Shares gained after the Fed’s hint that interest rates will stay near zero until it deemed the economy could withstand it.
And fears over spluttering global growth pushed oil into bear-market territory as average petrol prices hit their cheapest level for nearly four years.
The Dow Jones tanked 273 points, the S&P 500 shed 30 points and the Nasdaq lost 70 points after the IMF cut its global growth forecast.
And the IMF has warned that the world economy may never return to the pace of expansion seen before the financial crisis.