FTSE soars to new record as pound falls on euro fears

SHARE PRICES in London jumped to a new high yesterday, with the FTSE 100 index gaining 152.4 points to end at 6,307.6.

Greenspan hints at US rates rise

THE US Federal Reserve is shifting towards the view that interest rates may need to be raised, the Fed chairman said yesterday.

US must `reform outdated financial sector'

THE UNITED STATES must reform its financial sector or be outflanked by technology and foreign competition, Alan Greenspan said yesterday.

Markets too high, warns Greenspan

ALAN GREENSPAN, Chairman of the Federal Reserve, issued a stark warning yesterday that stock markets were too high and might need a correction.

Clinton adulation eclipses the trial

STILL ON trial in the Senate for his job and his legacy, President Bill Clinton was riding higher yesterday than at almost any other time in his six-year presidency after a triumphant State of the Union address on Tuesday night and an impressive defence from his lead lawyer, Charles Ruff, in the Senate that afternoon. As his lawyers prepared for the second day of his Senate defence, opinion polls showed his job approval rate soaring, to 70 per cent and higher.

Clinton adulation eclipses his trial

PRESIDENT CLINTON was riding high in the country and the polls yesterday, in the wake of his triumphal State of the Union address on Tuesday night. His fortunes in the Senate impeachment trial also seemed to brighten, as the White House special council, Gregory Craig, and Deputy Counsel, Cheryl Mills, took issue point by point with the details of the perjury and obstruction of justice charges against him.

Outlook: Equity bubbles

ALAN GREENSPAN was at it again yesterday, albeit in more subdued form than last time. There were no references from the Federal Reserve chairman to "irrational exuberance", but there can be no mistaking the meaning of the following incantation, delivered in characteristically convoluted form: "The level of equity prices would appear to envision substantially greater growth of profits than has been experienced of late".

The warning lights flashing along Main Street, USA

Inflation, rather than the next crash, could be the heffalump stalking the world economy

People and Business: Camel racing is a winner for Tarmac

BUILDING CAMEL racetracks is set to become a big revenue earner for Sir Neville Simms' Tarmac. The British contractor is just putting the finishing touches to a state-of-the art track, 23 kilometres long, just outside the city of Dubai.

City & business: It's desperation that drives the markets

The world's largest companies form the last bulwark against chaos

Personal finance: Stock markets will get a reality check, but when?

It will not be surprising if 1999 does at last see the down year in the US and UK stock markets

Brown renews call for `third way'

Brown renews call for `third way'

Outlook: Rate cuts may herald more gloom

EUROPEAN CENTRAL bankers seem to be doing a passable imitation of those cartoon characters who keep running beyond the cliff edge, but suddenly plunge earthwards when finally they come to look down. The bankers looked down, and decided interest rate cuts might be a good idea after all.

Outlook: Equity prices

MORE AND MORE curious grows Alan Greenspan's decision last week to cut US interest rates - the third such cut in two months. According to revised figures just released, the American economy grew at a stonking 3.9 per cent in the third quarter of this year, fed by a consumption binge of almost unprecedented proportions. Inflation may be in abeyance, but it is surely the case that with US economic growth now beginning to show all the characteristics of a tiger economy, rather than a standard, low growth OECD laggard, the US should be increasing interest rates, not lowering them.

Shares re-enter the danger zone

The craze for US Internet stocks has all the classic hallmarks of an asset price bubble
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Prices correct as of 15 May 2015
Mullah Omar, creator of the Taliban, is dead... for the fourth time

Mullah Omar, creator of the Taliban, is dead... again

I was once told that intelligence services declare their enemies dead to provoke them into popping up their heads and revealing their location, says Robert Fisk
Margaret Attwood on climate change: 'Time is running out for our fragile, Goldilocks planet'

Margaret Attwood on climate change

The author looks back on what she wrote about oil in 2009, and reflects on how the conversation has changed in a mere six years
New Dr Seuss manuscript discovered: What Pet Should I Get? goes on sale this week

New Dr Seuss manuscript discovered

What Pet Should I Get? goes on sale this week
Oculus Rift and the lonely cartoon hedgehog who could become the first ever virtual reality movie star

The cartoon hedgehog leading the way into a whole new reality

Virtual reality is the 'next chapter' of entertainment. Tim Walker gives it a try
Ants have unique ability to switch between individual and collective action, says study

Secrets of ants' teamwork revealed

The insects have an almost unique ability to switch between individual and collective action
Donovan interview: The singer is releasing a greatest hits album to mark his 50th year in folk

Donovan marks his 50th year in folk

The singer tells Nick Duerden about receiving death threats, why the world is 'mentally ill', and how he can write a song about anything, from ecology to crumpets
Let's Race simulator: Ultra-realistic technology recreates thrill of the Formula One circuit

Simulator recreates thrill of F1 circuit

Rory Buckeridge gets behind the wheel and explains how it works
Twitter accused of 'Facebookisation' over plans to overhaul reverse-chronological timeline

Twitter accused of 'Facebookisation'

Facebook exasperates its users by deciding which posts they can and can’t see. So why has Twitter announced plans to do the same?
Jane Birkin asks Hermès to rename bag - but what else could the fashion house call it?

Jane Birkin asks Hermès to rename bag

The star was shocked by a Peta investigation into the exotic skins trade
10 best waterproof mascaras

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We found lash-enhancing beauties that won’t budge no matter what you throw at them
Diego Costa biography: Chelsea striker's route to the top - from those who shared his journey

Diego Costa: I go to war. You come with me...

Chelsea's rampaging striker had to fight his way from a poor city in Brazil to life at the top of the Premier League. A new book speaks to those who shared his journey
Ashes 2015: England show the mettle to strike back hard in third Test

England show the mettle to strike back hard in third Test

The biggest problem facing them in Birmingham was the recovery of the zeitgeist that drained so quickly under the weight of Australian runs at Lord's, says Kevin Garside
Women's Open 2015: Charley Hull - 'I know I'm a good golfer but I'm also just a person'

Charley Hull: 'I know I'm a good golfer but I'm also just a person'

British teen keeps her feet on ground ahead of Women's Open
Turkey's conflict with Kurdish guerrillas in Iraq can benefit Isis in Syria

Turkey's conflict with Kurdish guerrillas in Iraq can benefit Isis in Syria

Turkish President Erdogan could benefit politically from the targeting of the PKK, says Patrick Cockburn
Yvette Cooper: Our choice is years of Tory rule under Jeremy Corbyn or a return to a Labour government

Our choice is years of Tory rule under Corbyn or a return to a Labour government

Yvette Cooper urged Labour members to 'get serious' about the next general election rather than become 'a protest movement'