UK bank profits wiped out: "In terms of their reputations, 2012 was a dire year”

Business quote of the day.

"In terms of their reputations, 2012 was a dire year”

Bill Michael of KPMG, commenting on a report from the accounting firm which said that three major UK banks saw a 45 per cent rise in core profits last year wiped out by a mix of regulation and their own mistakes.

Photograph: Getty Images

Helen Roxburgh is the online editor of Economia

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The NS Podcast #112: Going Underground

Are women-only carriages the way forward?

This week, we explain why we're backing Tessa Jowell as Labour's candidate for London mayor, talk women-only carriages on the tube, and speak to Tom Shone about Woody Allen. (Caroline Crampton, Barbara Speed, John Elledge, Stephen Bush, George Eaton).

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