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The energy regulator Ofgem has set out plans to "break the stranglehold of the big six energy suppliers".

The Bank of England has announced plans to expand a lending scheme designed to help businesses and households.

HSBC is cutting 3,166 UK jobs as it continues efforts to reduce costs. The bank said the positions would mostly go from its wealth management division.

Energy supplier SSE has been fined £10.5m by the regulator Ofgem for mis-selling gas and electricity. The fine is the largest ever imposed on an energy supplier by Ofgem.

The financial ombudsman service claims that the number of payment protection insurance (PPI) complaints has continued to increase at unprecedented levels.

Royal Bank of Scotland (RBS) has been fined £390m ($610m) by UK and US authorities for its part in the Libor rate-fixing scandal. The UK's Financial Services Authority issued a fine of £87.5m, while about £300m will be paid to US regulators and the US Department of Justice.

Wonga, the online money lending company is beginning to expand internationally. The company, which is regularly attacked by its critics for its lending practices, has started offering short-term loans to customers online in South Africa, Canada, Poland and soon it will set up in Spain.

UK banks have asked the Financial Services Authority to set a deadline of April 2014 for all further claims for compensation for mis-sold payment protection insurance (PPI) policies.