London

UK financial-services employment fell for the second consecutive quarter as banks cut costs amid restrictions on capital and tougher regulation, according to a Confederation of British Industry (CBI) survey.

Thirty-nine per cent of firms questioned said that they expect employment to decline, more than the 26 per cent that plan to increase headcount next quarter, according to a study released on Monday by Britain's largest lobby group and PricewaterhouseCoopers LLP.