News

Britain's oldest private-equity firm has written down the value of its investment in the retailer Hobbs because of poor trading over the festive period.

Standard Chartered takes a hit as finance director is stripped of risk role

Finance director Richard Meddings is set to hand over responsibility for risk to chief executive Peter Sands

Elisabetta Grillo, foreground, and Francesca Grillo, left, deny abusing their positions by using credit cards loaned to them by Ms Lawson and her former husband Charles Saatchi

Sisters' spending on Saatchi credit cards was not checked, trial told

It wasn't our job to get involved, says finance director

Outlook: Back-to-the-future banking on the cards at HSBC – or is that Midland?

Outlook: The bank has reportedly sounded out investors about the partial flotation of its UK bank

Bob Diamond plans City comeback with new African banking business

Diamond is expected to list a cash shell on the LSE in a bid to raise more than £150 million to acquire an African bank.

What the Sunday Papers Said

Independent on Sunday: Standard Chartered board split over rights issue

Standard Chartered’s board is divided over whether a rights issue is needed to strengthen its balance sheet after a tough year’s trading in emerging markets. The need for a cash call has been discussed privately between directors rather than at a formal board meeting.

The Business Matrix: Monday 9 December 2013

Royal Mail set to join FTSE 100

Labour targets Treasury minister over role at Libor scandal bank

Javid had job at bank that is one of those hit by record fine for cartels' conspiracy

Banks fined record £1.4bn over rate rigging scandal

The European Commission has fined five international banks, including Royal Bank of Scotland, and a broker a record 1.7 billion euros (£1.4 billion) for rigging crucial interest rate benchmarks.

Pearson splashes $500m to buy Brazil's top English language school

Education giant Pearson has acquired Grupo Multi, an English-language school provider in Brazil as the FTSE 100 group presses ahead with its expansion plans in emerging markets.

Market Report: The wider market followed Europe's lead and fell into the red

From Black Friday to Cyber or Mega Monday – the marketing machine to promote Christmas shopping was in full swing yesterday, but the stock market resembled meagre Monday as a series of downgrades and margin warnings hit the retail sector.

Funding for Lending loans more than triple to £5.8bn led by Lloyds and Nationwide

Net lending by banks participating in the Bank of England's flagship scheme Funding for Lending more than tripled to £5.8 billion in the third quarter, according to newly released figures.

What the Sunday papers said

The Independent on Sunday: Water watchdog spends £20m on consultants

The much-criticised water regulator has been accused of costing bill-payers nearly £20m after hiring consultants at the same time that it was pressuring utilities to reduce their prices. Ofwat is said to be badly under-resourced and has asked a team led by the accountancy firm PricewaterhouseCoopers to assess the business plans of the water companies for 2015-20.

The Business Matrix: Monday 02 December 2013

More City jobs available this year

OUTLOOK: RBS investigators are too tied to the establishment to win victims’ trust

Lawrence Tomlinson cuts quite a dash. The swashbuckling racing driver/millionaire tycoon shoots from the hip, and his report on RBS’s treatment of small business was characteristically explosive.

Co-operative Bank loses customers after Paul Flowers scandal

The Co-operative Bank has admitted for the first time it is losing customers after a series of scandals including alleged drug-taking by former chairman Paul Flowers.

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VIPs gather for opening of second Suez Canal - but doubts linger over security

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VIPs gather for opening of second Suez Canal - but is it really needed?
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Fashion editor, Alexander Fury, applauds a man who clearly has more important things on his mind
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Art of the state: Pyongyang propaganda posters to be exhibited in China

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