The International Monetary Fund (IMF) missed signs of a banking calamity, lacked independence and failed to hold countries to account, the organization's internal watchdog said in a report that sharply criticized its handling of the euro zone debt crisis.
The pound dropped the most in two weeks against the euro as traders anticipated that the Bank of England will lower interest rates for the first time in more than seven years when it announces its latest policy decision on Aug. 4. Sterling fell versus ...
The Pound / Euro exchange rate will start the new month having traded in a sideways motion over the final days of July. A month after the June referendum and the volatility which saw GBP post its largest one day decline has abated.
Italy's oldest bank has just clinched a multi-billion dollar rescue after flunking a test of its financial strength. Banca Monte dei Paschi di Siena announced on Friday night that it had found a "definitive solution" to its legacy of bad loans.