News

A wave of legal and regulatory woes wrecked JPMorgan’s third-quarter results, pushing the bank into something it managed to avoid throughout the financial crisis, a quarterly loss.

The City Diary: The Midas – or Maddison – touch

Slackbelly exposes The good, the bad and the ugly of the square mile

The day the King of Bears saw his house fall down

Former boss of Bear Stearns blames market rumours for the collapse of the US investment bank in 2008

Think oblique: How our goals are best reached indirectly

In business, in mountaineering and even in the pursuit of happiness, the most direct route isn't always best. Economist John Kay makes the case for obliquity

Stephen Foley: Panicky new rules that miss the point

US Outlook: Forcing derivatives trading on to exchanges will bring transparency and cut counter-party risk

Joss Garman: Climate change deniers cost the earth

Hardliners around the English-speaking world who ignore the evidence for global warming will pay a heavy political price

Bear Stearns fund managers found not guilty

In a huge setback for government prosecutors, a jury in New York City last night acquitted two former hedge-fund managers with Bear Stearns of lying to clients about the safety of their money even when they themselves allegedly saw disaster around the corner because of the imploding sub-prime mortgage market.

Business Diary: Former Bear boss busts out at poker

It seems that Steven Begleiter is rather better at casinos than he was at casino capitalism. The former Bear Stearns head of corporate strategy came within an ace (literally) of a shot at the $22m first prize of the World Series of Poker in Las Vegas.

Jury ponders fate of Bear Stearns duo in first credit crunch trial

Managers accused of fraud over collapse of hedge funds that heralded meltdown

Growth figures dash hopes of Britain coming out of recession

Across Europe, the recovery is under way. But we are stuck in the longest downturn since 1945. Sean O'Grady explains why

Bear Stearns pair were 'trying to do their best,' court told

The Bear Stearns hedge fund managers accused of defrauding investors are innocent of the charges, a defence lawyer told a New York jury, because "no one can lie about the future".

The e-mails: 'I've washed a 30-year career down the drain'

According to the indictment against them, Ralph Cioffi and Matthew Tannin, with others, "agreed to make misrepresentations [about the health of their funds] in the ultimately futile hope that the funds' bleak prospects would change". The core of the evidence against them is contained in emails, diary entries and recordings of conference calls.

The people vs Wall Street

Bear Stearns bankers on trial in first criminal case of the credit crunch

Emails hold key to trial of Bear Stearns' former fund managers

Wall Street financiers to face jury over alleged securities and wire fraud

Stephen Foley: Years of court cases ahead for Wall Street

US Outlook: The sub-prime mortgage market is "toast". My mortgage company's products are "poison". The derivatives we've just offloaded to a client are "vomit". These are from internal emails across Wall Street as the credit market boom began to turn to bust (from Bear Stearns, Countrywide and UBS, respectively), and they have turned up in the first court cases in what looks set to be years of litigation and prosecutions.

Executive Excesses: In another world

The executive excesses uncovered by the end of the long boom initially incited just employee and shareholder anger. They have now given rise to public fury. Stephen Foley reports
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Fifa corruption: The 161-page dossier that exposes the organisation's dark heart

The 161-page dossier that exposes Fifa's dark heart

How did a group of corrupt officials turn football’s governing body into what was, in essence, a criminal enterprise? Chris Green and David Connett reveal all
Mediterranean migrant crisis: 'If Europe thinks bombing boats will stop smuggling, it will not. We will defend ourselves,' says Tripoli PM

Exclusive interview with Tripoli PM Khalifa al-Ghweil

'If Europe thinks bombing boats will stop smuggling, it will not. We will defend ourselves'
Raymond Chandler's Los Angeles: How the author foretold the Californian water crisis

Raymond Chandler's Los Angeles

How the author foretold the Californian water crisis
Chinese artist who posted funny image of President Xi Jinping facing five years in prison as authorities crackdown on dissent in the arts

Art attack

Chinese artist who posted funny image of President Xi Jinping facing five years in prison
Marc Jacobs is putting Cher in the limelight as the face of his latest campaign

Cher is the new face of Marc Jacobs

Alexander Fury explains why designers are turning to august stars to front their lines
Parents of six-year-old who beat leukaemia plan to climb Ben Nevis for cancer charity

'I'm climbing Ben Nevis for my daughter'

Karen Attwood's young daughter Yasmin beat cancer. Now her family is about to take on a new challenge - scaling Ben Nevis to help other children
10 best wedding gift ideas

It's that time of year again... 10 best wedding gift ideas

Forget that fancy toaster, we've gone off-list to find memorable gifts that will last a lifetime
Paul Scholes column: With the Premier League over for another year, here are my end of season awards

Paul Scholes column

With the Premier League over for another year, here are my end of season awards
Heysel disaster 30th anniversary: Liverpool have seen too much tragedy to forget fateful day in Belgium

Liverpool have seen too much tragedy to forget Heysel

Thirty years ago, 39 fans waiting to watch a European Cup final died as a result of a fatal cocktail of circumstances. Ian Herbert looks at how a club that later became synonymous with Hillsborough has dealt with this tragedy
Amir Khan vs Chris Algieri: Khan’s audition for Floyd Mayweather may turn into a no-win situation, says Frank Warren

Khan’s audition for Mayweather may turn into a no-win situation

The Bolton fighter could be damned if he dazzles and damned if he doesn’t against Algieri, the man last seen being decked six times by Pacquiao, says Frank Warren
Blundering Tony Blair quits as Middle East peace envoy – only Israel will miss him

Blundering Blair quits as Middle East peace envoy – only Israel will miss him

For Arabs – and for Britons who lost their loved ones in his shambolic war in Iraq – his appointment was an insult, says Robert Fisk
Fifa corruption arrests: All hail the Feds for riding to football's rescue

Fifa corruption arrests

All hail the Feds for riding to football's rescue, says Ian Herbert
Isis in Syria: The Kurdish enclave still resisting the tyranny of President Assad and militant fighters

The Kurdish enclave still resisting the tyranny of Assad and Isis

In Syrian Kurdish cantons along the Turkish border, the progressive aims of the 2011 uprising are being enacted despite the war. Patrick Cockburn returns to Amuda
How I survived Cambodia's Killing Fields: Acclaimed surgeon SreyRam Kuy celebrates her mother's determination to escape the US

How I survived Cambodia's Killing Fields

Acclaimed surgeon SreyRam Kuy celebrates her mother's determination to escape to the US
Stephen Mangan interview: From posh buffoon to pregnant dad, the actor has quite a range

How Stephen Mangan got his range

Posh buffoon, hapless writer, pregnant dad - Mangan is certainly a versatile actor