HBOS

There must have been more than a few sweaty brows last week when the HBOS disaster broke wide open in all its gory detail.

Former HBOS chief executive Sir James Crosby is to give up his knighthood and a third of his pension, according to reports.

The new City watchdog was last night fighting to defend its chairman amid accusations he enabled HBOS to pursue its reckless lending strategy.

Business secretary Vince Cale is pushing forward on plans to ban three former HBOS directors from acting as company directors.

The Financial Services Authority (FSA) has censured Bank of Scotland for failings within its Corporate Division between January 2006 and December 2008.