JPMorgan Chase said on Monday it will eliminate about 9,200 jobs at the former Washington Mutual, which on September 25 became the largest U.S. bank to fail.
Royal Bank of Scotland said the government will take a 57.9 percent stake in the group after investors took up just 0.24 percent of the shares offered in its state-backed capital raising.
UBS AG said on Monday its new infrastructure fund raised a higher-than-expected $1.5 billion (916 million pounds), with investors attracted by the prospect of stable, inflation-resilient returns amid global financial turmoil.
Lloyds TSB, the bank which has agreed to take over HBOS, could face competition from the founder of HBOS's internet banking unit who is working on a rival bid, the Sunday Times newspaper reported.
Life insurer Friends Provident said it is abandoning the sale of wealth management unit Lombard, nine months after putting the business on the market, as it reported a worse than expected drop in nine-month sales.
Barclays is close to raising about 6 billion pounds from a number of potential investors and could announce details on Friday, a person familiar with the matter said.
Asset management group Schroders on Tuesday unveiled a sharp fall in third quarter profits as outflows from its funds accelerated.
Life insurer Aviva reported a better than expected 12 percent rise in its 9-month sales, with strong growth in Europe and North America helping to offset a flat performance in the United Kingdom.
Shares in blue-chip heavyweight HSBC plunged more than 10 percent to a six-year low on Monday, joining a global equities sell-off on fears of the impact of a global recession on corporate profits.
Oil prices fell five percent to $82 a barrel, a one-year low, as fears that market turmoil will send demand for fuel slumping outweighed news that OPEC will hold an emergency meeting in November.
Oil prices tumbled nearly 4 percent amid a commodities-wide rout on Monday, falling to their lowest since February as traders feared efforts to contain a growing credit crisis would fail to stave off a sharper decline in oil demand.
