News

Two of the world's largest banks suspended, or put on leave, traders in London and New York yesterday as part of an investigation into alleged manipulation of the trillion-dollar currency market.

Market Report: Redrow rallies as 'double dip' fears ease

Housing sector stocks bounced back last night, with Redrow rebounding by almost 7 per cent after the bulls moved in on the view that the market was disproportionately discounting the possibility of "double dip" in house prices.

Abu Dhabi says it was duped by Citigroup over investment deal

Emirate desperate to tear up agreement after share collapse at banking giant

Citigroup in $20.5bn cash call to repay bailout funds

Move will allow bank to pay executives and top traders bumper bonuses

Terra Firma sues Citi over 'fraudulent' auction for EMI

US banking giant accused of lying during bid process for British music company

Citigroup sued by Terra Firma over EMI deal

British private equity firm Terra Firma accused Citigroup Inc of fraud and sued the bank for billions in damages in connection with Terra Firma's purchase of music business EMI Group in 2007, court documents filed yesterday in New York showed.

Stephen Foley: Time to put the brakes on Citigroup

US Outlook: Vikram Pandit, Citigroup's chief executive, has spent the past week lashing a horse to the back of a cart and trying to persuade everyone that he's created a roadworthy vehicle.

Citigroup sounds out investors on $15bn cash call to repay bail-out

Regulators urge caution over bank's ambitions

Citi and UBS to advise on sales

Investment banks Citi and UBS will be retained as advisers to the Government and London & Continental Railways (LCR), when the Channel Tunnel rail link is sold next year.

Seegers out as Diamond wins again in the power struggle at Barclays

Barclays' retail banking chief, Frits Seegers, is to quit the bank in the wake of a surprise shake-up of the bank's board. Mr Seegers is understood to have been unhappy with plans to remove commercial banking operations from his remit and will receive a pay off of around £700,000.

The Week Ahead: Future looks good for BSkyB's HD business

Analysts expect to hear of strong demand for BSkyB's HD, or high-definition, products when the satellite television group posts first-quarter results at the end of this week.

Market Report: Rexam rises as investors look Stateside

The packaging manufacturer Rexam firmed up last night as investors bought in ahead of updates from the group's American peers.

Citi sells Phibro and ends bonus furore

The US banking giant Citigroup has sold Phibro, its oil trading business, in a deal that helps the group to avoid potential sticky questions over a $100m (£63m) bonus paid to star trader Andrew Hall.

Tesco to report sales slowdown

Tesco, Britain's biggest retailer, will report half-year profit figures this week under a cloud of warnings over falling food prices which analysts say will hit profits at food supermarkets over the next year.

Balfour Beatty to buy US project group for $626m

Friendly takeover of Parsons Brinckerhoff to be financed by rights issue
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Day In a Page

Burgundy, the River Rhone & Provence – MS Swiss Corona - seven nights from £999pp
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'I’ll tell you what I would not serve - lamb and potatoes'

US ambassador hits out at stodgy British food
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A 'revolution' in TV gender roles

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James Frey's literary treasure hunt

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What David Sedaris learnt about the world from his fitness tracker
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Saudis risk new Muslim division with proposal to move Mohamed’s tomb

Second-holiest site in Islam attracts millions of pilgrims each year
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'I like Orwell's writing as much as the next talented mediocrity'

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Meet Afghanistan's middle-class paint-ballers

Toy guns proving a popular diversion in a country flooded with the real thing
Al Pacino wows Venice

Al Pacino wows Venice

Ham among the brilliance as actor premieres two films at festival
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Neil Lawson Baker interview

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The other Mugabe who is lining up for the Zimbabwean presidency

Wife of President Robert Mugabe appears to have her sights set on succeeding her husband
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The model for a gadget launch

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She's done pretty well, for a boffin without a beard

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Get well soon, Joan Rivers

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