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An appellate court has ruled that it can hear an appeal against a decision by a competition tribunal, which found that the claim against MasterCard brought on behalf of millions of consumers failed the necessary tests. (AP)

Court Of Appeal Will Hear £14B Mastercard Class Action Bid

An English appeals court ruled Tuesday that it could weigh whether a £14 billion ($18.1 billion) consumer antitrust suit against MasterCard Inc. can proceed as a class action, rejecting an attempt to limit the challenge to a procedural review. 

Top Stories

Regulations Make Bankers 'Scared' Of Decisions, MPs Told

Tough compliance regimes at British banks risk making staff too frightened to make important decisions or take the initiative, the head of the Banking Standards Board warned a panel of lawmakers on Tuesday.

Ex-AIG Staff Could Win $100M After High Court Bonus Ruling

A London court has ruled that 23 former executives at AIG are entitled to deferred bonuses pre-dating the financial crisis that could be worth more than $100 million despite the units' involvement in the risky trading that nearly brought down the insurance giant.

UK Lawmakers Launch Probe Into 'Broken' Audit Market

A fresh investigation is to be launched into the state of auditing in the U.K., the head of a parliamentary committee revealed on Monday, in the wake of a series of accounting scandals and corporate collapses that have “undermined public and investor confidence.”

Watchdog Needs Help In 'David and Goliath' Fights, MPs Say

The U.K.'s accounting regulator could need more funding if it is to avoid "David and Goliath" battles with “corporate giants” such as BHS Ltd., the retail chain that collapsed in 2016 with a £571 million ($733 million) pension deficit, two senior lawmakers have said.

MPs Probe Whether Bank Closures Hit Vulnerable Customers

Parliament's influential Treasury Committee launched an investigation on Friday into whether financial services companies are excluding and overcharging vulnerable customers, after thousands of local bank branches closed down across the U.K.