Gem Diamonds has recovered a 100-carat diamond from its Letseng mine in Lesotho – the third such discovery there since May.

A US appeals court has thrown out a 2010 ruling against a claim by Guy Hands that he had been tricked by Citigroup into overpaying for EMI, setting the stage for a fresh showdown between the private-equity mogul and the bank over the sale of the London-based music business.

The power was pulled from National Grid amid fears of a dividend cut as the wider London market also took a tumble yesterday. Vague rumours that the energy company could cut its dividend sent it to the bottom of the benchmark index.

New York City, home of the horn-leaning taxi driver and death-wish bicycle courier, has survived a second day on its version of London’s Boris Bikes. At the time of writing, there were no reported calamities involving the new swarm of 6,000 rental machines.

Shares in Bradford's supermarket chain were in danger of being left on the shelf after weak results, but yesterday City scribblers said it was time to put Morrisons in the buy basket.

Jack Lew, President Barack Obama's pick to replace Tim Geithner as Treasury Secretary, was grilled on his tenure at Citigroup, with Republican lawmakers pressing him on his past investments in a Cayman Islands fund and on a nearly $1m bonus he received as Citi was receiving government support during the financial crisis.

He's the new Tim Geithner, is that correct?

Have we seen a quick bit of profit-taking, or is the rally really over? Yesterday the FTSE 100 index lurched and lost 100.4 points – the biggest one-day fall since early November. The finish, at 6,246.84, was in contrast to Friday, when the Footsie ended the week on a near five-year high.

Economic View: In this slow-growing world, how can we protect our savings from being whittled away by inflation?

Russian Prime Minister Dmitry Medvedev's efforts to give his citizens a better night's sleep and ease stress for the nation's farm animals are undermining his push to make Moscow a global financial centre.

Vikram Pandit's abrupt departure as chief executive of Citigroup has revived questions about the bank's direction

A mammoth, $4.7bn (£2.9bn) writedown drove Citigroup's third-quarter profits down by nearly 90 per cent – but America's third-largest bank still managed to beat Wall Street expectations yesterday thanks to strength in its bond trading business.

Fears that media giants BSkyB and BT overpaid in their £3 billion Premier League deal sent shares in the pair sharply lower today.