Morgan Stanley banker scapegoated for flop.

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Investment Banker Blamed in IPO

The head of Spain’s fourth-largest bank, Bankia, is explaining why the institution needs 19bn euros of loans from the government.

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Spain’s Bankia explains troubles

The ten most popular areas for young Scottish professionals to buy property are all in major cities, according to the Bank of Scotland.

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Cities draw young professionals

Country’s major banks are downgraded.

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Stocks Plunge on Spain Woes

Spain’s fourth-largest bank, Bankia, asks for a bailout worth 19bns euros ($24bn; £15bn), and admits that it made a massive loss last year.

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Spain’s Bankia seeks 19bn euros

As Spaniards move their money out of troubled institutions, officials worry about the ripple effect of a full bank run.

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In Spain, Bank Transfers Reflect Broader Fears

A man and a woman are seriously injured when their van plunges 250m down a ravine after hitting an embankment.

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Pair hurt after van ravine plunge

Free banking is a “dangerous myth”, according to Andrew Bailey, who is due to become the chief regulator of the financial services industry.

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Free banking ‘a dangerous myth’

More than a year after resorting to bankruptcy court, the orchestra on Wednesday submitted its plan to erase debt and cut costs to a judge.

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Philadelphia Orchestra Submits Reorganization Plan

Lawmakers are questioning a process in which the banks involved in Facebook’s I.P.O. shared a negative outlook about the company only with select clients.

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DealBook: Regulators Ask if All Facebook Investors Were Treated Equally

VALLEJO, CALIF. — The first couple of years were ugly. After this working-class port city became the largest in America to declare bankruptcy in 2008 , crime and prostitution surged as the police force was thinned by 40 percent. Firehouses were shuttered, and funding for libraries and senior centers was slashed. Foreclosures multiplied and home prices plummeted. Read full article > >

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Vallejo, Calif., once bankrupt, is now a model for cities in an age of austerity

Germany’s largest bank says austerity not crucial.

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Report: Euro Zone Prepping Greek Exit

Facebook, its founder Mark Zuckerberg, and the banks leading its flotation are sued over claims that financial information was not disclosed.

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Facebook and banks face lawsuit

Bank of England policymakers voted by 8-1 this month against pumping more money into the economy, but the decision was “finely balanced” for some.

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Bank eyed case for more stimulus

Rival bankers and big investors have complained that Morgan Stanley botched the debut by setting the price too high and selling too many shares to the public.

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DealBook: Facebook Debut Raises Questions on I.P.O. Process