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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.

Full moon: The algorithm regards a full moon as a bad omen. In Greek mythology, werewolves appeared shortly after the full moon

Superstitious can play the markets with dawn of 'triskaidekaphobic trading'

Choose stocks avoiding the number 13 and using rules based on cycles of the moon

Investors did not challenge banks in 2011

Fund managers failed to tackle high pay awards before 'shareholder spring', new research shows

Spain given an extra year by Brussels to slash deficit

Beleaguered Spain was handed a lifeline by the European Commission (EC) yesterday as the nation was given an extra year to slash its deficit.

Spain thrown lifeline by Brussels with extra year to cut deficit

Relief for Madrid as fears over banks see country's borrowing costs at their highest since it joined euro

Spain 'shuffling towards the abyss'

The prospect of a multibillion-euro bailout for Spain increased today as the country's borrowing costs edged up on fears over its beleaguered banking sector.

Hedge fund manager who lied about losses fined £3m

A hedge fund manager accused by the Financial Services Authority of lying to investors about "catastrophic losses" has been fined a record £3m by the watchdog.

Hedge fund 'liar' Alberto Micalizzi fined record £3m and banned

A London hedge fund manager accused by the Financial Services Authority of lying to investors about "catastrophic losses" has been fined a record £3m by the watchdog.

Lying hedge fund boss Alberto Micalizzi fined £3m

A hedge fund boss who is accused of covering up losses of 390 million US dollars (£250 million) was facing a record £3 million fine from the City watchdog today.

Doubts arise over Madrid's ability to prop up its banks

Spain seemed to be moving closer to an official bailout yesterday as the country's borrowing costs soared and doubts over the ability of the Madrid government to prop up its ravaged banking sector multiplied.

Spain moves closer to bailout as borrowing costs hit new records

Fears mount over Madrid's ability to shore up its banking sector

Markets cautious over Spain fears

European markets remained in a fragile mood today with the euro dropping to near 11-month lows on concerns about Spain's ailing banking sector following the announcement of bailout plans for troubled lender Bankia.

Warm weather stifled sales at House of Fraser

House of Fraser has blamed warm weather, the consumer downturn and costs associated with opening a new distribution centre for a sharp fall in its profits last year.

World Champion Sebastien Vettel

Investment groups rev up Formula One float

Formula One's share flotation rolled on to the starting grid yesterday as venture capitalist CVC sold a $1.6bn (£1bn) stake in the business to three investment groups including BlackRock.

Conservative Party co-treasurer Peter Cruddas

Diary: What price to dine with the Prime Minister?

Donations of £250,000 a year will buy you dinner with David Cameron, the Conservative Party co-treasurer Peter Cruddas told undercover reporters in March. He had to resign as soon as his words – which Mr Cameron described as "completely unacceptable" – appeared in The Sunday Times.

Barclays to sell $6bn stake in US fund manager

Barclays is to sell its entire $6.1bn (£3.8bn) stake in the US fund manager BlackRock, which it has held for almost three years since selling Barclays Global Investors (BGI) to the Americans.

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Jeremy Clarkson has rejected criticisms of his language, according to BBC director of television Danny Cohen
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A polar bear’s diet is rich in seal blubber and half of its own body weight is composed of fat
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fashion David Beckham fronts adverts for his underwear collection
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Flocking round: Beyoncé, Madame Tussauds' latest waxwork, looking fierce in the park
travelIn a digital age when we have more access than ever to the stars, why are waxworks still pulling in crowds?
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Judi Dench appeared at the Hay Festival to perform excerpts from Shakespearean plays
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Is this how Mario Balotelli will cruise into Liverpool?
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Ronahi Serhat, a PKK fighter, in the Qandil Mountains in Iraqi Kurdistan
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Burgundy, the River Rhone & Provence – MS Swiss Corona - seven nights from £999pp
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Istanbul Ephesus & Troy – six nights from £859pp
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Air strikes? Talk of God? Obama is following the jihadists’ script

Air strikes? Talk of God? Obama is following the jihadists’ script

The President came the nearest he has come yet to rivalling George W Bush’s gormless reaction to 9/11 , says Robert Fisk
Ebola outbreak: Billy Graham’s son declares righteous war on the virus

Billy Graham’s son declares righteous war on Ebola

A Christian charity’s efforts to save missionaries trapped in Africa by the crisis have been justifiably praised. But doubts remain about its evangelical motives
Jeremy Clarkson 'does not see a problem' with his racist language on Top Gear, says BBC

Not even Jeremy Clarkson is bigger than the BBC, says TV boss

Corporation’s head of television confirms ‘Top Gear’ host was warned about racist language
Nick Clegg the movie: Channel 4 to air Coalition drama showing Lib Dem leader's rise

Nick Clegg the movie

Channel 4 to air Coalition drama showing Lib Dem leader's rise
Philip Larkin: Misogynist, racist, miserable? Or caring, playful man who lived for others?

Philip Larkin: What will survive of him?

Larkin's reputation has taken a knocking. But a new book by James Booth argues that the poet was affectionate, witty, entertaining and kind, as hitherto unseen letters, sketches and 'selfies' reveal
Madame Tussauds has shown off its Beyoncé waxwork in Regent's Park - but why is the tourist attraction still pulling in the crowds?

Waxing lyrical

Madame Tussauds has shown off its Beyoncé waxwork in Regent's Park - but why is the tourist attraction still pulling in the crowds?
Texas forensic astronomer finally pinpoints the exact birth of impressionism

Revealed (to the minute)

The precise time when impressionism was born
From slow-roasted to sugar-cured: how to make the most of the British tomato season

Make the most of British tomatoes

The British crop is at its tastiest and most abundant. Sudi Pigott shares her favourite recipes
10 best men's skincare products

Face it: 10 best men's skincare products

Oscar Quine cleanses, tones and moisturises to find skin-savers blokes will be proud to display on the bathroom shelf
Malky Mackay allegations: Malky Mackay, Iain Moody and another grim day for English football

Mackay, Moody and another grim day for English football

The latest shocking claims do nothing to dispel the image that some in the game on these shores exist in a time warp, laments Sam Wallace
La Liga analysis: Will Barcelona's hopes go out of the window?

Will Barcelona's hopes go out of the window?

Pete Jenson starts his preview of the Spanish season, which begins on Saturday, by explaining how Fifa’s transfer ban will affect the Catalans
Middle East crisis: We know all too much about the cruelty of Isis – but all too little about who they are

We know all too much about the cruelty of Isis – but all too little about who they are

Now Obama has seen the next US reporter to be threatened with beheading, will he blink, asks Robert Fisk
Neanderthals lived alongside humans for centuries, latest study shows

Final resting place of our Neanderthal neighbours revealed

Bones dated to 40,000 years ago show species may have died out in Belgium species co-existed
Scottish independence: The new Scots who hold fate of the UK in their hands

The new Scots who hold fate of the UK in their hands

Scotland’s immigrants are as passionate about the future of their adopted nation as anyone else
Britain's ugliest buildings: Which monstrosities should be nominated for the Dead Prize?

Blight club: Britain's ugliest buildings

Following the architect Cameron Sinclair's introduction of the Dead Prize, an award for ugly buildings, John Rentoul reflects on some of the biggest blots on the UK landscape