SFO investigates price rigging in foreign exchange market

The Serious Fraud Office (SFO) has launched a criminal investigation into allegations of price rigging in the £3tn-a-day foreign exchange market.

Banking industry's year of shame ends in a blizzard of Libor revelations

The pledge made by one UBS trader – "I'm a man of my word" – seems a fine sentiment, until the realisation dawns that the promise he is making is to do "one humongous deal" with a broker to help him manipulate the Libor rate.

BoE's Tucker: Worst may still be ahead for banking

The "worst may still be ahead" for the banking system, the Bank of England's deputy governor has told a gathering of leading bankers.