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
Burgundy, the River Rhone & Provence – Five-star MS Swiss Corona 7 nights from £999pp
Lake Como St Moritz & the Bernina Express 7 nights from £809pp
Vietnam
Lake Maggiore, Orta & the Matterhorn 7 nights from £939pp
South Africa
Spain
Prices correct as of 19 December 2014
A timely reminder of the bloody anniversary we all forgot

A timely reminder of the bloody anniversary we all forgot

Who remembers that this week we enter the 150th anniversary year of the end of the American Civil War, asks Robert Fisk
Homeless Veterans appeal: Former soldiers pay their respects to a friend who also served

Homeless Veterans appeal

Former soldiers pay their respects to a friend who also served
Downfall of Dustin 'Screech' Diamond, the 'Saved By The Bell' star charged with bar stabbing

Scarred by the bell

The downfall of the TV star charged with bar stabbing
Why 2014 was a year of technological let-downs

Why 2014 was a year of technological let-downs

Security breaches and overhyped start-ups dominated a year in which very little changed (save the size of your phone)
Cuba's golf revolution: But will the revolutionary nation take 'bourgeois' game to its heart?

Will revolutionary Cuba take 'bourgeois' golf to its heart?

Fidel Castro ridiculed the game – but now investment in leisure resort projects is welcome
The Locked Room Mysteries: As a new collection of the genre’s best is published, its editor Otto Penzler explains the rules of engagement

The Locked Room Mysteries

As a new collection of the genre’s best is published, its editor explains the rules of engagement
Amy Adams on playing painter Margaret Keane in Tim Burton's Big Eyes

How I made myself Keane

Amy Adams hadn’t wanted to take the role of artist Margaret Keane, because she’d had enough of playing victims. But then she had a daughter, and saw the painter in a new light
Ed Richards: Parting view of Ofcom chief. . . we hate jokes on the disabled

Parting view of Ofcom chief... we hate jokes on the disabled

Bad language once got TV viewers irate, inciting calls to broadcasting switchboards. But now there is a worse offender, says retiring head of the media watchdog, Ed Richards
A look back at fashion in 2014: Wear in review

Wear in review

A look back at fashion in 2014
Ian Herbert: My 10 hopes for sport in 2015. Might just one of them happen?

Ian Herbert: My 10 hopes for sport in 2015

Might just one of them happen?
War with Isis: The West needs more than a White Knight

The West needs more than a White Knight

Despite billions spent on weapons, the US has not been able to counter Isis's gruesome tactics, says Patrick Cockburn
Return to Helmand: Private Davey Graham recalls the day he was shot by the Taliban

'The day I was shot by the Taliban'

Private Davey Graham was shot five times during an ambush in 2007 - it was the first, controversial photograph to show the dangers our soldiers faced in Helmand province
Revealed: the best and worst airlines for delays

Revealed: the best and worst airlines for delays

Many flyers are failing to claim compensation to which they are entitled, a new survey has found
The stories that defined 2014: From the Scottish independence referendum to the Ice Bucket Challenge, our writers voice their opinions

The stories that defined 2014

From the Scottish independence referendum to the Ice Bucket Challenge, our writers voice their opinions
Stoke-on-Trent becomes first British city to be classified as 'disaster resilient' by the United Nations

Disaster looming? Now you know where to head...

Which British city has become the first to be awarded special 'resilience' status by the UN?