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.

A grim-faced Luisde Guindos, Spain's Economy Minister, at the parliament in Madrid yesterday

Markets in spin as anti-bailout party rises in Greek polls and Spanish borrowing costs soar

Madrid government forced to deny plan to bail out troubled bank with state cash

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.

Zuckerberg sold $1.1bn of shares (worth $19bn on Friday) in the flotation to pay his tax bill

Mark Zuckerberg loses friends on Wall Street as regulators probe $19bn slump

Facebook investors rage at 18 per cent fall after some were not told of last-minute change to key projections

Satyajit Das: There is a misplaced reliance on the European Central Bank

Voters in Greece and France have voted against austerity. Voters elsewhere in Europe will probably follow suit in time. Despite summits and communiqués, politicians and policy makers cannot miraculously create growth overnight. The only likely action in the short run will probably come from the European Central Bank (“ECB”).

Top London player cashes in after £52m deal with Man

The leading London hedge fund player Blaine Tomlinson was considerably better off yesterday after the firm he founded 21 years ago was bought by Man Group for up to $82.8m (£52.3m).

Investment View: Hold your fire on Telecity despite non-exec's deal

Telecity: OUR VIEW: buy on weakness; SHARE PRICE: 761p (+4.5p)

Nasdaq chief embarrassed by Facebook glitch

The chief executive of Nasdaq said the stock exchange is “humbly embarrassed” by its bungling of Facebook's hugely anticipated debut as a public company on Friday.

Notonthehighstreet.com raises another £10m

Two women entrepreneurs confirmed their status heading one of Britain's fastest-growing online businesses yesterday when notonthehighstreet.com raised another £10m to fund expansion.

Spain and Italy pay the price for investors' jitters

Spain and Italy saw their borrowing costs spike again yesterday as investor fears intensified that those two nations could be knocked sideways by a sudden Greek exit from the single currency.

Spanish borrowing rates edge up on contagion fears

Spanish markets faced more selling pressure today as investors fretted about the future of the euro amid increasing concerns over Greece's future in the single currency bloc.

£1.2bn JP Morgan Chase loss investigated

A team of high-stakes traders, including one dubbed the London Whale, were today at the centre of an investigation over £1.2 billion losses at America's biggest bank.

Markets recover on Greek government deal hopes

Markets recovered today on hopes for an end to Greece's political chaos. Spanish shares outperformed all others after the government confirmed it will nationalize the country's fourth-largest bank.

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