Win Bischoff is retiring as chairman of Lloyds Banking Group according to the Financial Times. As reported in the Financial Times, the chairman of the Lloyds Banking Group Win Bischoff is stepping down.

The foreign exchange regulatory agency of China, upon orders of the State Council, has abolished regulations that lead to red tape and promotes non transparency.

Bloomberg, in a response to a complaint made by Goldman Sachs, removes reporters access to its terminals.

Bloomberg CEO Daniel Doctoroff called the access to journalists fiasco a 'mistake'. Bloomberg LP CEO Daniel Doctoroff said, after receipt of reports that users of the company terminals were investigating potential leaks of information, said that the company committed a 'mistake' by providing journalists access to data on a client's terminal usage.

Gulf coast countries, wary of the Euro Debt crisis and other factors, are choosing to invest at home rather than overseas.

Swiss Finance Minister said that the government would be debating on the issue of bank secrecy on two specific points.

Host British finance minister said that the G7 officials meeting is aimed to discuss continued reforms.

German exporters face tough hurdle because of the Yen's continued depreciation. The big exporters of Germany are facing a new difficulty from its Japanese competitors following the quick depreciation of Yen as against the Euro.

Delinquent loans from many countries from the former Soviet bloc are impeding the growth and development of these countries and the region.

In a move to restructure its banking industry, the Greek Central Bank is closing down FBBank. Greece, in a bid for housecleaning, has split one of its smaller lending institutions into 'good' and 'bad' parts.