London-based Goldman Sachs Group UK reported a $194 million profit in the Cayman Islands.

Some of the biggest foreign investment and commercial banks operating in Britain paid an average tax rate of just 6 per cent on the billions of dollar(...)

A review of Libor by Financial Conduct Authority boss Martin Wheatley recommended control of the rate be stripped from the British Bankers’ Association. Photograph: Simon Dawson/Bloomberg.

The owner of the New York Stock Exchange is to take control of the controversial interbank lending rate at the heart of the recent banking scandal.NYS(...)