News Josef Ackermann spoke of ‘shock’ at the suspected suicide of his colleague

Josef Ackermann, the chairman of Switzerland’s top-ranking Zurich Insurance Group and a former head of Deutsche Bank, has stepped down with immediate effect following the suspected suicide of the company’s chief financial officer.

FSA to admit shortcomings in Royal Bank of Scotland oversight

City regulator failed to detect the pressures in the banking system

FSA to publish report into RBS near-collapse

The FSA will tomorrow publish its report into the near collapse of Royal Bank of Scotland and is expected to say the bank lost sight of "core fundamentals of capital, liquidity, asset quality and risk" for more than a year before it was rescued by the Government.

RBS report to highlight FSA failings

After a year of tussles with lawyers, politicians and bankers, the Financial Services Authority will finally publish its report into the near-collapse of Royal Bank of Scotland on Monday.

David Prosser: Goodwin and McKillop need not fear FSA report

Who should be most nervous about the publication on Monday, finally, of the Financial Services Authority's report into the collapse of Royal Bank of Scotland three years ago? The answer, though it may surprise you, is not the former executives of RBS, whose poor decisions brought one of the world's largest financial institutions to its knees. Rather it is senior officials at the regulator itself who have most to lose.

David Prosser: If the regulator fails to explain its role in RBS debacle its report will be a whitewash

Outlook Who should be most nervous about the publication on Monday, finally, of the Financial Services Authority's report into the collapse of Royal Bank of Scotland three years ago? The answer, though it may surprise you, is not the former executives of RBS, whose poor decisions brought one of the world's largest financial institutions to its knees. Rather it is senior officials at the regulator itself who have most to lose.

From
Alicante to Cape Town, the Volvo round the world boats face a hard opening
slog

Competitors prepare for difficult start to Volvo round the world race

Bring out the foul weather gear, prepare to reduce sail, be ready for 24/7 crashing and banging. The Volvo round the world race will be barely an hour old on Saturday before the fleet of six charges south into what will become an increasingly upwind slog as it heads for the Straits of Gibraltar.

Eurozone exposure sends RBS sliding back into red

Royal Bank of Scotland swung into the red yesterday as the taxpayer-controlled bank took a £733m hit on Greek bonds and revealed plans to cut about 2,000 jobs.

RBS in jobs warning amid £794m loss

The boss of Royal Bank of Scotland today confirmed the jobs axe would swing once again at the part-nationalised bank as it unveiled a half-year loss of £794 million.

'Chaps' payments system is at risk of meltdown, warns Bank

The Bank of England warned yesterday that it would take action if necessary to strengthen Britain's payments system for big transactions.

Watchdog delays controversial reforms of mortgage market

The Financial Services Authority delayed its controversial mortgage reforms yesterday and admitted its attempts to protect borrowers risked restricting lending too much.

Mary Ann Sieghart: Enough of men who crash and burn

As a political journalist I love it when our politics are full of scandal and excitement. But as citizen? Less so

Sarah Sands: It's the boardroom, not the bedroom, that matters

The distinction between who is and isn't fair game for the press is complicated. So it is a relief that we can all agree on Sir Fred Goodwin. Actors and footballers are one thing: a hubristic banker who left the taxpayer with the bill for his rampage is a different matter. We can tell that the alleged affair between Goodwin and a senior colleague at the Royal Bank of Scotland is a solid-gold scandal rather than diverting gossip because the Financial Services Authority has deemed it worthy enough of investigation.

RBS failure faces new probe

Britain's banking regulator is to launch a new probe into the failure of the Royal Bank of Scotland in light of revelations about Sir Fred Goodwin's private life.

Cahal Milmo: 'Fred the Shred' thought the bad headlines had gone away. He was wrong

Our writer reports on yet another public humiliation for the former RBS chief
News
Pro-Russia rebels guard a train containing the bodies of victims of the Malaysia Airlines flight MH 17 crash in Torez, Ukraine
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Life and Style
Child's play: letting young people roam outdoors directly contradicts the current climate
lifeHow much independence should children have?
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Tycoons' text: Warren Buffett and Bill Gates both cite John Brookes' 'Business Adventures' as their favourite book
booksFind out why America's richest men are reading John Brookes
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Sign here, please: Magna Carta Island
propertyYours for a cool £4m
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people
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Struggling actors who scrape a living working in repertory theatres should get paid a 'living wage', Sir Ian McKellen has claimed
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Skye McCole Bartusiak's mother said she didn't use drink or drugs
peopleActress was known for role in Mel Gibson film The Patriot
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Damon Albarn is starting work on a new West End musical
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Paul and his father
artsPaul Carter wants to play his own father in the film of his memoirs
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Day In a Page

Burgundy, the River Rhone & Provence – MS Swiss Corona - seven nights from £999pp
Lake Maggiore, Orta and the Matterhorn – seven nights from £899pp
Sicily – seven nights from £939pp
Pompeii, Capri and the Bay of Naples - seven nights from £799pp
Istanbul Ephesus & Troy – six nights from £859pp
Mary Rose – two nights from £319pp
Some are reformed drug addicts. Some are single mums. All are on benefits. But now these so-called 'scroungers’ are fighting back

The 'scroungers’ fight back

The welfare claimants battling to alter stereotypes
Amazing video shows Nasa 'flame extinguishment experiment' in action

Fireballs in space

Amazing video shows Nasa's 'flame extinguishment experiment' in action
A Bible for billionaires

A Bible for billionaires

Find out why America's richest men are reading John Brookes
Paranoid parenting is on the rise - and our children are suffering because of it

Paranoid parenting is on the rise

And our children are suffering because of it
For sale: Island where the Magna Carta was sealed

Magna Carta Island goes on sale

Yours for a cool £4m
Phone hacking scandal special report: The slide into crime at the 'News of the World'

The hacker's tale: the slide into crime at the 'News of the World'

Glenn Mulcaire was jailed for six months for intercepting phone messages. James Hanning tells his story in a new book. This is an extract
We flinch, but there are degrees of paedophilia

We flinch, but there are degrees of paedophilia

Child abusers are not all the same, yet the idea of treating them differently in relation to the severity of their crimes has somehow become controversial
The truth about conspiracy theories is that some require considering

The truth about conspiracy theories is that some require considering

For instance, did Isis kill the Israeli teenagers to trigger a war, asks Patrick Cockburn
Alistair Carmichael: 'The UK as a whole is greater than the sum of its parts'

Alistair Carmichael: 'The UK as a whole is greater than the sum of its parts'

Meet the man who doesn't want to go down in history as the country's last Scottish Secretary
Legoland Windsor's master model-makers reveal the tricks of their trade (including how to stop the kids wrecking your Eiffel Tower)

Meet the people who play with Lego for a living

They are the master builders: Lego's crack team of model-makers, who have just glued down the last of 650,000 bricks as they recreate Paris in Windsor. Susie Mesure goes behind the scenes
The 20 best days out for the summer holidays: From Spitfires to summer ferry sailings

20 best days out for the summer holidays

From summer ferry sailings in Tyne and Wear and adventure days at Bear Grylls Survival Academy to Spitfires at the Imperial War Museum Duxford and bog-snorkelling at the World Alternative Games...
Open-air theatres: If all the world is a stage, then everyone gets in on the act

All the wood’s a stage

Open-air productions are the cue for better box-office receipts, new audiences, more interesting artistic challenges – and a picnic
Rand Paul is a Republican with an eye on the world

Rupert Cornwell: A Republican with an eye on the world

Rand Paul is laying out his presidential stall by taking on his party's disastrous record on foreign policy
Self-preservation society: Pickles are moving from the side of your plate to become the star dish

Self-preservation society

Pickles are moving from the side of your plate to become the star dish
Generation gap opens a career sinkhole

Britons live ever longer, but still society persists in glorifying youth

We are living longer but considered 'past it' younger, the reshuffle suggests. There may be trouble ahead, says DJ Taylor