Money

In 1990 interest rates were at 15 per cent. You didn't need to be brain of Britain to know that rates at that level were not going to last. It should be easy, therefore, to look at interest rates today – standing at 0.5 per cent – and see this must be the bottom of the interest rate cycle, with little chance of them remaining at record lows in the medium to long term.

Stock lending is leaving investors short changed

Fund managers are pocketing millions, but taking little risk, in the secretive practice

Markets fall after inaction on euro

The UK was facing more economic uncertainty tonight after the European Central Bank failed to deliver measures for tackling the region's debt crisis.

Investors rejoice as ECB chief Mario Draghi talks of euro rescue plan

'Super' Mario Draghi hints at attack on Spain and Italy's high borrowing costs

France and Spain call for bank rescue to come quickly

France and Spain called today for swift implementation of the rescue plan for Spanish banks to ease concern that the country may need a full-blown sovereign bailout.

Aberdeen says client cash is still flowing in but pace slowing

The UK fund manager Aberdeen Asset Management is still drawing in client cash although continued turmoil in Europe is slowing the pace sharply.

Morgan Stanley to axe seven per cent of staff

Morgan Stanley plans to cut more staff this year and expects headcount to fall by 7 per cent, or 4,100, as it prepares for weak economic growth globally and low trading volume, the investment bank said yesterday.

Italy passes market test after Moody's downgrade

Italy passed a tough market test today as its three-year borrowing costs fell well below 5 per cent at an auction hours after Moody's cut the country's rating to two notches above junk status.

'Terrifying' former judge hired to beef up SFO

The new head of the embattled Serious Fraud Office has put a tough senior former judge on the payroll to aid his attempts at cracking down on City crime.

Top judge to beef up Fraud Office after string of bungles

QC with a terrifying reputation as a judge hired by new head of the SFO

Police officers stand guard at a Barclays branch as activists protest about the Libor scandal

Bank crisis is hitting corporate bond funds

The relative safety of company-issued bonds is being upset by the banks' Libor scandal

Westfield bond raises £450m

The Australian owner of the Westfield London and Stratford City shopping centres has raised £450m to pay down some of its UK debts and release cash for new investments.

Spanish and Italian woes raise heat at EU summit

Spain's borrowing costs jumped above 7 per cent and Italy had to pay through the nose to raise debt at an auction yesterday, heaping more pressure on European leaders as they kicked off a eurozone crisis summit in Brussels.

Spanish and Italian pain heaps pressure on crisis summit

Spain's borrowing costs jumped above 7 per cent and Italy had to pay through the nose to raise debt at an auction yesterday, heaping more pressure on European leaders as they kicked off a eurozone crisis summit in Brussels.

Business week in review

In profit...

Spotlight On: Severn Trent's 10-year bond

The deal

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Independent Travel
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
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If today's young guns wish to elevate themselves to the heights of Sampras, Graf and Federer, it's time to fire up the most thrilling shot in tennis
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