Olympics 'unlikely to boost' economy, says Moody's

The 2012 Olympics are unlikely to provide a substantial boost to the British economy, according to credit rating agency Moody’s.

Osborne confirms banks must ringfence retail banking

Chancellor George Osborne has backed most of the recommendations in the Vickers' banking report, including protecting retail banking from riskier investment activities.

Banking reforms 'may not happen until 2015'

Any shake-up of British banks may not come into force for several years, government sources have indicated.

Although legislation could be passed to "split up" leading banks before 2015's scheduled general election, changes may not take effect until after that date.

Business Secretary Vince Cable has said changes will go ahead and denied any splits with the Tories on the issue.