The British government says bankers who recklessly mismanage their banks could face jail time, according to a new proposal released Wednesday.

First there was the rigging of the interest rate known as LIBOR. Now there may be collusion on currency exchange rates.

As the G7 gathers near London, austerity is on everyone's mind.

Despite the recent global banking crisis, UK regulators have decided to cut down application approval times for new banks and lower the capital requirements. An American starting a bank there says this will stimulate competition.

There’s no question Margaret Thatcher wanted to remake the U.K. economy during her tenure, but did she succeed?

The Oscar-winning film Argo is about a fake movie set up to rescue captured hostages. A fake movie in Britain was basically a tax fraud.

Britain's budget, released today, contains more deep spending cuts. Nobel-winning economist Paul Krugman argues that austerity policies in the UK and Europe are killing growth.

Now that Romanians and Bulgarians will soon enjoy full European Union status and be able to move freely through EU countries, Britain fears a flood of unwelcome immigrants.

Britain’s finance chief has delivered an ultimatum to the U.K.’s banks: Obey our new rules or we’ll break you up. Some analysts say the U.S. should follow the British example.

U.K. Prime Minster David Cameron will give a major speech tomorrow that sets the tone for his country's future relations with the European Union. Many in the U.K. want more decisions made in London and fewer in Brussels. Is the U.K. on the way out of the EU?