News

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.

Markets in turmoil as traders face new shocks

The IEA's move to rein in oil prices added to the anxieties of stock market investors around the world yesterday, prompting a rollercoaster ride on leading exchanges as the contagion spread.

Market Report: Banks finish in the red over ring-fencing fears

Investors withdrew from the banks last night, as analysts warned that the market was not taking into account the damage that could be caused by plans to force the sector to ring-fence its high street operations.

More quantitive easing not on Federal Reserve agenda

The Federal Reserve blamed temporary factors for the current soft patch in the US economy, closing down for now any suggestion it could consider a third programme of quantitative easing.

Stephen Foley: Inflation targets will stay Bernanke's hand

US Outlook: When Ben Bernanke took over as chairman of the Federal Reserve in 2007, it looked like one of his early moves might be to introduce an explicit inflation target for the central bank's interest rate-setting committee.

Fed Reserve may target US inflation to control prices

The Federal Reserve, the US central bank, is considering publishing a formal inflation target as a way of keeping prices under control.

Stephen Foley: Bernanke remains scholar and gentleman

US Outlook: Jamie Dimon is on the board of the New York Federal Reserve and a power player on Wall Street. He has no shortage of opportunities to make diplomatic overtures behind the scenes to the central bank and to its chairman, Ben Bernanke. His question to Mr Bernanke this week was therefore a deliberate public ambush. Has the Fed "bothered" to study the effect of Wall Street reform on the economic recovery?

Seconds Out: The Great Banking Fightback

Barclays and JPMorgan are leading a counter-attack against banker-bashing. Sean Farrell and Stephen Foley report

Bank 'amnesia' threatens reforms, says regulator

Shelia Bair, the outgoing chairman of the Federal Deposit Insurance Corporation, one of the most powerful US financial regulators, warned yesterday that "amnesia" over the 2007-2009 credit crisis is threatening important Wall Street reforms.

Market Report: African Barrick loses its shine amid tax worries

Fears that the Tanzanian government might move to impose a windfall levy on mining profits undermined the mood around African Barrick Gold last night.

Dimon confronts Bernanke over banking rules

Jamie Dimon, chief executive of JPMorgan Chase, one of Wall Street's most powerful banks, took his complaints about too much regulation directly to the chairman of the Federal Reserve last night, challenging Ben Bernanke to prove that new banking rules are not crimping the economic recovery.

The Business On: Peter Diamond, Professor of Economics, MIT

What's his specialism?

Stephen Foley: Now, where is US inflation hiding?

US Outlook: Some people will never be persuaded that inflation is dead. But the US Government released a picture of the labour market here yesterday, and it was notable for the absence of any wage inflation pressures.

No U-turn on economic aid, Bernanke insists

The US Federal Reserve stood firm in its commitment to an exceptionally loose monetary policy in the world's largest economy, dismissing concerns yesterday over inflation and promising to hold interest rates at their current zero rate for an extended period.

Bernanke to confront his critics as US economic recovery stutters once again

Weakening economic growth and sliding house prices in the world's largest economy form the backdrop to the first-ever press conference by a Federal Reserve chairman, to be held after the US central bank makes its latest interest rate decision today.

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Independent Travel
Pompeii, Capri & the Bay of Naples
Dubrovnik, the Dalmatian Coast & Montenegro
Burgundy, the River Rhone & Provence
Lisbon, Oporto and the Douro Valley
Lake Garda, Venice & Verona
Spain
Prices correct as of 30 January 2015
As in 1942, Germany must show restraint over Greece

As in 1942, Germany must show restraint over Greece

Mussolini tried to warn his ally of the danger of bringing the country to its knees. So should we, says Patrick Cockburn
Britain's widening poverty gap should be causing outrage at the start of the election campaign

The short stroll that should be our walk of shame

Courting the global elite has failed to benefit Britain, as the vast disparity in wealth on display in the capital shows
Homeless Veterans appeal: The rise of the working poor: when having a job cannot prevent poverty

Homeless Veterans appeal

The rise of the working poor: when having a job cannot prevent poverty
Prince Charles the saviour of the nation? A new book highlights concerns about how political he will be when he eventually becomes king

Prince Charles the saviour of the nation?

A new book highlights concerns about how political he will be when he eventually becomes king
How books can defeat Isis: Patrick Cockburn was able to update his agenda-setting 'The Rise of Islamic State' while under attack in Baghdad

How books can defeat Isis

Patrick Cockburn was able to update his agenda-setting 'The Rise of Islamic State' while under attack in Baghdad
Judith Hackitt: The myths of elf 'n' safety

Judith Hackitt: The myths of elf 'n' safety

She may be in charge of minimising our risks of injury, but the chair of the Health and Safety Executive still wants children to be able to hurt themselves
The open loathing between Barack Obama and Benjamin Netanyahu just got worse

The open loathing between Obama and Netanyahu just got worse

The Israeli PM's relationship with the Obama has always been chilly, but going over the President's head on Iran will do him no favours, says Rupert Cornwell
French chefs get 'le huff' as nation slips down global cuisine rankings

French chefs get 'le huff' as nation slips down global cuisine rankings

Fury at British best restaurants survey sees French magazine produce a rival list
Star choreographer Matthew Bourne gives young carers a chance to perform at Sadler's Wells

Young carers to make dance debut

What happened when superstar choreographer Matthew Bourne encouraged 27 teenage carers to think about themselves for once?
Design Council's 70th anniversary: Four of the most intriguing prototypes from Ones to Watch

Design Council's 70th anniversary

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Dame Harriet Walter: The actress on learning what it is to age, plastic surgery, and her unease at being honoured by the establishment

Dame Harriet Walter interview

The actress on learning what it is to age, plastic surgery, and her unease at being honoured by the establishment
Art should not be a slave to the ideas driving it

Art should not be a slave to the ideas driving it

Critics of Tom Stoppard's new play seem to agree that cerebral can never trump character, says DJ Taylor
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Bill Granger's winter salads

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George Ford: Cool head ready to put out dragon fire

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Michael Calvin: Time for Old Firm to put aside bigotry and forge new links

Michael Calvin's Last Word

Time for Old Firm to put aside bigotry and forge new links