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The US Federal Reserve said it would continue to reduce its bond buying stimulus program by $10 billion a month and will keep interest rates extraordinarily low for as long as required.

Hamish McRae: Quality, not quantity, likely to be the way ahead as banks try to boost lending

Economic View: I personally find it astounding that the West could have allowed such a build up of debt to occur

Market Report: Miner Hochschild climbs on cost cuts

The City isn’t known for penny-pinching, but news that a mining company was taking control of spending, slashing bosses’ pay and culling the number of executives sent it to the top of the mid-tier index.

Ben Bernanke tries to soothe nerves in jittery markets

US monetary policy is not on a “preset course” and a “highly accommodative” stance “is appropriate for the foreseeable future,” Ben Bernanke said, in a bid to reassure jittery markets.

Satyajit Das: Trapped central banks and the semiotics of monetary policy

US Federal Reserve Chairman Ben Bernanke has introduced the term ‘taper’ to the lexicon of central banking. European Central Bank President Mario Draghi’s stated strategy is “whatever it takes”. Economic Commissioner Olli Rehn recently clarified that European policies were directed at ‘diluting’ not ‘breaking’ the link between banks and sovereigns.

A happy stock market trader in the US, earlier this week

FTSE index surges up as US says it will keep pumping money into economy

FTSE 100 up by more than 40 points, led by mining stocks as Fed head Ben Bernanke says he's committed to monetary stimulus

Icap in a tumble despite big leap in bond trading on Fed's move

A huge surge in bond trading after the United States Federal Reserve shook markets with plans to slow its money-printing programme failed to save broking giant Icap from a City sell-off yesterday.

Markets keep the Carney glow after US employers hire more staff

Shares held on to most of their Mark Carney-inspired gains yesterday, despite  surprisingly strong job figures from the US sparking fears the Federal Reserve would cut its quantitative easing (QE) programme.

Borrowed money will still be cheap when Nick Clegg, David Cameron and Ed Miliband go to the polls

Guy Hands' Deutsche Annington comeback falls victim to market turmoil

Stock market turmoil today claimed the scalp of one of Europe’s biggest IPOs in recent years, dashing hopes of a €1 billion (£850 million) comeback from private equity mogul Guy Hands.

Carney expected to resist urge for immediate change

A new era at the Bank of England dawns tomorrow as Canadian Mark Carney takes the reins and prepares for his first decision on interest rates and money-printing within days.

Sources: IMF, OECD, Thompson Financial Datastream and Bloomberg

Hamish McRae: Working out how to quit QE will be new boy Carney’s first challenge

Mark Carney begins work at the Bank of England tomorrow. There is a great temptation, as you can see from the stuff that is being written about the appointment, to see this as leading to a significant shift in policy – something that will enable the UK economy to reach “escape velocity”. The fact that the Bank has been given additional responsibilities for regulating the banking system, making the job on paper at least more powerful, increases the temptation.

Market 'out of sync,' says New York Fed chief

A senior American central banker yesterday pushed back against market expectations that the Federal Reserve was set on rolling back its stimulus measures later this year, as new data showed the US economy continued to improve at a moderate pace.

Bank of England Governor Mervyn King's swansong: Markets have got it all wrong

Outgoing Governor says world economy still far too weak to allow interest rate rises

Hamish McRae: Bernanke sprang a bonds surprise but it may be for the best in the end

Ecnomic View: Understandably there has been criticism of the timing and phraseology of the Bernanke speech

Share scare FTSE 100 falls for fifth week in a row and recalls 2011 bloodbath

London’s leading shares were today set for a fifth successive week of losses — their worst performance since the eurozone crisis triggered a summer of turmoil in markets in 2011.

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Pompeii, Capri & the Bay of Naples
Seven Cities of Italy
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Prague, Budapest and Vienna
Lake Garda
Minoan Crete and Santorini
Prices correct as of 15 May 2015
Turkey-Kurdish conflict: Obama's deal with Ankara is a betrayal of Syrian Kurds and may not even weaken Isis

US betrayal of old ally brings limited reward

Since the accord, the Turks have only waged war on Kurds while no US bomber has used Incirlik airbase, says Patrick Cockburn
VIPs gather for opening of second Suez Canal - but doubts linger over security

'A gift from Egypt to the rest of the world'

VIPs gather for opening of second Suez Canal - but is it really needed?
Jeremy Corbyn dresses abysmally. That's a great thing because it's genuine

Jeremy Corbyn dresses abysmally. That's a great thing because it's genuine

Fashion editor, Alexander Fury, applauds a man who clearly has more important things on his mind
The male menopause and intimations of mortality

Aches, pains and an inkling of mortality

So the male menopause is real, they say, but what would the Victorians, 'old' at 30, think of that, asks DJ Taylor
Man Booker Prize 2015: Anna Smaill - How can I possibly be on the list with these writers I have idolised?

'How can I possibly be on the list with these writers I have idolised?'

Man Booker Prize nominee Anna Smaill on the rise of Kiwi lit
Bettany Hughes interview: The historian on how Socrates would have solved Greece's problems

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The historian on how Socrates would have solved Greece's problems
Art of the state: Pyongyang propaganda posters to be exhibited in China

Art of the state

Pyongyang propaganda posters to be exhibited in China
Mildreds and Vanilla Black have given vegetarian food a makeover in new cookbooks

Vegetarian food gets a makeover

Long-time vegetarian Holly Williams tries to recreate some of the inventive recipes in Mildreds and Vanilla Black's new cookbooks
The haunting of Shirley Jackson: Was the gothic author's life really as bleak as her fiction?

The haunting of Shirley Jackson

Was the gothic author's life really as bleak as her fiction?
Bill Granger recipes: Heading off on holiday? Try out our chef's seaside-inspired dishes...

Bill Granger's seaside-inspired recipes

These dishes are so easy to make, our chef is almost embarrassed to call them recipes
Ashes 2015: Tourists are limp, leaderless and distinctly UnAustralian

Tourists are limp, leaderless and distinctly UnAustralian

A woefully out-of-form Michael Clarke embodies his team's fragile Ashes campaign, says Michael Calvin
Blairites be warned, this could be the moment Labour turns into Syriza

Andrew Grice: Inside Westminster

Blairites be warned, this could be the moment Labour turns into Syriza
HMS Victory: The mystery of Britain's worst naval disaster is finally solved - 271 years later

The mystery of Britain's worst naval disaster is finally solved - 271 years later

Exclusive: David Keys reveals the research that finally explains why HMS Victory went down with the loss of 1,100 lives
Survivors of the Nagasaki atomic bomb attack: Japan must not abandon its post-war pacifism

'I saw people so injured you couldn't tell if they were dead or alive'

Nagasaki survivors on why Japan must not abandon its post-war pacifism
Jon Stewart: The voice of Democrats who felt Obama had failed to deliver on his 'Yes We Can' slogan, and the voter he tried hardest to keep onside

The voter Obama tried hardest to keep onside

Outgoing The Daily Show host, Jon Stewart, became the voice of Democrats who felt the President had failed to deliver on his ‘Yes We Can’ slogan. Tim Walker charts the ups and downs of their 10-year relationship on screen