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The cost of insuring against a catastrophic US default jumped to its  highest level in more than two years today after talks to prevent a breach of the nation’s $16.7 trillion (£10.5 trillion) debt ceiling faltered.

Sean O'Grady: A bailout is on the way, if the markets are to be believed

When it comes to bewildering financial crises it is usually best to start with the crisp wisdom of Nouriel Roubini, the man who called the credit crunch right. Mr Roubini said this week, bluntly, that Ireland is "on a path to near or complete insolvency". In response, Irish ministers bleat that "we're fully funded until mid-2011". Big deal. If you'd lent someone money to buy a house and they'd said that they were OK for cash until next summer, but after that things might get a bit hairy, how reassured would you be?

Botched cabinet reshuffle gives Sarkozy's rivals new strength

President Nicolas Sarkozy last night announced a new government largely restricted to his own tribe of the centre-right, abandoning his policy of "ouverture" to the left, centre and racial minorities.

French strikes ease as unions move towards talks

Oil refinery strikes in France against an unpopular pension reform lost steam yesterday, with walkouts ending at several plants and unions sounding keener on talks with employers than pursuing the showdown.

More strikes ramp up pressure on Sarkozy

French truck drivers said they planned to block key roads from yesterday evening and rail unions announced new strikes from today, putting fresh pressure on President Nicolas Sarkozy over his unpopular pension reforms.

How French regime sealed takeover of British utility giant

Turning International Power into a global leader should have been straightforward – instead it became a drama

Sarkozy steps into France's Anelka row

The president of France, Nicolas Sarkozy, has asked his sports minister Roselyne Bachelot to meet with the key people involved in the bitter national team row which has wrecked their World Cup chances.

Cracks appear in EU unity as fears spread for future of the eurozone

Europe's governments struggled to mask sharp differences yesterday even as they backed new sanctions for indebted countries in the battle to prevent a debt crisis from spiralling into an emergency that threatens the very survival of the euro.

The Sketch: There's one thing we can teach the French: 'results-based' rhetoric

There is no word for "grandeur" in English. That's what we're up against over here. They have Versailles, we have Buckingham Palace. They have the Louvre, we have the National Gallery. They have the Elysée Palace, we have Downing Street. They have Christine Lagarde, we have (to cheat a bit) Vince Cable.

SocGen beats forecasts with €1.1bn profit

Société Généerale announced forecast-beating net profits of €1.1bn (£940m) for the first-quarter yesterday, helped by its investment banking division and fewer provisions on bad loans. The French banking giant said it anticipated a "sustainable rebound" this year and was "confident" that it could meet profits forecasts of €3bn for 2010.

Implicit German guarantee helps Greece raise €1.5bn from investors

The Greek rescue package passed its first test easily yesterday when the latest auction of that country's government debt was heavily oversubscribed.

Darling stakes his claim to proceeds of levy on banks

Chancellor backs calls for tax on banking assets but rejects insurance fund

Ministers to pay price for Sarkozy's woes

President likely to ask for new government to be formed after poll results

Sarkozy's cronies make song and dance of it

Political video by youth wing of President's party spawns internet spoofs

Investment banks set for bonus curb talks

Lord Myners to call in global groups to follow UK banks' lead over pay
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Netherlands' goalkeeper Tim Krul fails to make a save from Costa Rica's midfielder Celso Borges during a penalty shoot-out in the quarter-final between Netherlands and Costa Rica during the 2014 FIFA World Cup
newsGoalkeepers suffer from 'gambler’s fallacy' during shoot-outs
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Arts and Entertainment
Standing the test of time: Michael J Fox and Christopher Lloyd in 'Back to the Future'
filmReview: A week late, Secret Cinema arrives as interactive screening goes Back to the Future
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travel
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Sydney and Melbourne are locked in a row over giant milk crates
artCultural relations between Sydney and Melbourne soured by row over milk crate art instillation
Arts and Entertainment
Adèle Exarchopoulos and Léa Seydoux play teeneage lovers in the French erotic drama 'Blue Is The Warmest Colour' - The survey found four times as many women admitting to same-sex experiences than 20 years ago
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Preparations begin for Edinburgh Festival 2014
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Two giraffes pictured on Garsfontein Road, Centurion, South Africa.
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View from the Llanberis Track to the mountain lake Llyn
Du’r Arddu
environmentA large chunk of Mount Snowdon, in north Wales, is up for sale
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Day In a Page

Burgundy, the River Rhone & Provence – MS Swiss Corona - seven nights from £999pp
Lake Maggiore, Orta and the Matterhorn – seven nights from £899pp
Sicily – seven nights from £939pp
Pompeii, Capri and the Bay of Naples - seven nights from £799pp
Istanbul Ephesus & Troy – six nights from £859pp
Mary Rose – two nights from £319pp
Dress the Gaza situation up all you like, but the truth hurts

Robert Fisk on Gaza conflict

Dress the situation up all you like, but the truth hurts
Save the tiger: Tiger, tiger burning less brightly as numbers plummet

Tiger, tiger burning less brightly

When William Blake wrote his famous poem there were probably more than 100,000 tigers in the wild. These days they probably number around 3,200
5 News's Andy Bell retraces his grandfather's steps on the First World War battlefields

In grandfather's footsteps

5 News's political editor Andy Bell only knows his grandfather from the compelling diary he kept during WWI. But when he returned to the killing fields where Edwin Vaughan suffered so much, his ancestor came to life
Lifestyle guru Martha Stewart reveals she has flying robot ... to take photos of her farm

Martha Stewart has flying robot

The lifestyle guru used the drone to get a bird's eye view her 153-acre farm in Bedford, New York
Former Labour minister Meg Hillier has demanded 'pootling lanes' for women cyclists

Do women cyclists need 'pootling lanes'?

Simon Usborne (who's more of a hurtler) explains why winning the space race is key to happy riding
A tale of two presidents: George W Bush downs his paintbrush to pen father’s life story

A tale of two presidents

George W Bush downs his paintbrush to pen father’s life story
Restaurateur Mitch Tonks has given the Great Western Pullman dining car a makeover

The dining car makes a comeback

Restaurateur Mitch Tonks has given the Great Western Pullman dining car a makeover
Gallery rage: How are institutions tackling the discomfort of overcrowding this summer?

Gallery rage

How are institutions tackling the discomfort of overcrowding this summer?
Louis van Gaal has £500,000 video surveillance system installed to monitor Manchester United players

Eye on the prize

Louis van Gaal has £500,000 video surveillance system installed to monitor Manchester United players
Women's rugby: Tamara Taylor adds fuel to the ire in quest to land World Cup

Women's rugby

Tamara Taylor adds fuel to the ire in quest to land World Cup
Save the tiger: The day America’s love of backyard tigers led to a horrific bloodbath

The day America’s love of backyard tigers led to a horrific bloodbath

With only six per cent of the US population of these amazing big cats held in zoos, the Zanesville incident in 2011 was inevitable
Samuel Beckett's biographer reveals secrets of the writer's time as a French Resistance spy

How Samuel Beckett became a French Resistance spy

As this year's Samuel Beckett festival opens in Enniskillen, James Knowlson, recalls how the Irish writer risked his life for liberty and narrowly escaped capture by the Gestapo
We will remember them: relatives still honour those who fought in the Great War

We will remember them

Relatives still honour those who fought in the Great War
Star Wars Episode VII is being shot on film - and now Kodak is launching a last-ditch bid to keep celluloid alive

Kodak's last-ditch bid to keep celluloid alive

Director J J Abrams and a few digital refuseniks shoot movies on film. Simon Usborne wonders what the fuss is about
Once stilted and melodramatic, Hollywood is giving acting in video games a makeover

Acting in video games gets a makeover

David Crookes meets two of the genre's most popular voices