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'Retail Banks Will Be Ring-Fenced Under New Banking Reforms

George Osbourne is proposing the biggest bank shake up since the 1930's with controversial plans to ring fence retail arms of banks. He is set to face 'formidable opposition' from the banks in what could be one of the most challenging reforms of the banking sector. The Chancellor wants banks to ring fence their retail banking arms to protect the public if their trading and investment arms were to hit serious trouble.

Iceland ash cloud 2011: Which insurance companies paid out last time?

Last year's Iceland ash cloud caused many Britons to check their travel insurance policies for an eventuality that few had previously considered. So, few could have imagined that the industry would have to deal with a similar episode so soon after the first with forecasters warning that the plume from the Grimsvotn volcano could be blown to northern Scotland tomorrow, and the rest of Britain by Thursday.

HSBC share price down on FTSE 100 as Q1 profits fall

Shares in British banks were down on the FTSE 100 in morning trading after HSBC issued a disappointing set of Q1 results and said it would be taking a hit as a result of a need to compensate customers who were wrongly sold payment protection insurance.