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Spain's borrowing costs hit a euro-era high on Tuesday amid sagging investor confidence that Europe can prevent its debt crisis from worsening and wrangling among policy makers over how to implement cross-border banking supervision.
Hong Kong should review its U.S. dollar peg and consider linking its currency to the renminbi, according to Joseph Yam, former head of the Hong Kong Monetary Authority.
A Greek exit from the euro zone may be the price that has to be paid to persuade Germany to save the single currency, British finance minister George Osborne, said on Tuesday.
The London Stock Exchange has carried out the biggest management shake-up in the three-year tenure of chief executive Xavier Rolet with a slew of executive departures and hires.
Paul Tucker, deputy governor of the Bank of England, distanced himself from Mervyn King - whom he is favourite to succeed as governor - by calling on Tuesday for a review of the bank's stance against directly easing credit conditions.
Philipp Hildebrand, the former chairman of the Swiss National Bank, is joining BlackRock as vice-chairman and will oversee the firm's largest institutional client relationships outside of the U.S.
Turmoil in financial markets has pushed the owners of Formula One to delay a $3 billion share offering in Singapore due later this month, according to people close to the situation.
UK banks that receive confidential state support should not always be obliged to warn investors about their viability, a regulatory panel tasked with answering one of the most contentious accounting questions posed by the financial crisis says.