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.

RUSSIA TIME: Employees work at computer screens at the RTS Stock Exchange in Moscow.

Russian traders lose to cows as winter crimps Moscow market

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.

The share price at Citi has fallen by nearly 90 per cent during Mr Pandit's tenure

The incredible shrinking bank

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

Citigroup boss in shock exit

Surprise departure by chief executive stuns Wall Street

Bonds bolster Citigroup as writedown hits profits

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.

BSkyB shares fall after £3bn Premier League deal

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

Terra Firma 'set to raise funds'

Terra Firma, the private equity group run by Guy Hands, is expected to start fundraising within 12 months.

Care home owner agrees £825m sale

The owner of 445 care homes which is responsible for looking after some 20,000 residents has agreed to be sold to financier Guy Hands' private equity firm for £825 million, it was announced today.

James Moore: Now US investors put the boot into bankers

Outlook Talking of bankers, it seems that now American investors are squaring up for a fight over their pay.

Shareholders veto Citigroup chief's pay

Shareholders in Citigroup, one of the world's largest banks, gave a stinging rebuke to chief executive Vikram Pandit last night by rejecting his $50m pay package at their annual meeting.

Sony considers £65m bid for HMV Live

Sony Music Entertainment is among several suitors that are seeking to acquire the live music business of HMV, the embattled entertainment retailer, for about £65m.

Hamish McRae: The Irish people won't give the wrong answer – will they?

Trust the people! Unlike Greece and Italy, Ireland has an elected Prime Minister with a mandate to push through the austerity programme. He and this cabinet clearly deemed it safer to take the legally solid route and go for a referendum on the new EU fiscal compact. Since the present coalition and the principal opposition support the policy it would be odd if the people were to throw it out.

Universal seeks EC approval of EMI takeover

Universal Music is poised to file with Brussels for approval of its £1.2bn takeover of EMI’s recorded music arm as early as this week.

Kodak files for bankruptcy protection

Eastman Kodak, the photography icon that invented the hand-held camera and helped bring the world the first pictures from the moon, has filed for bankruptcy protection, capping a prolonged plunge for one of America's best-known companies.

Bad news for bonuses as Citigroup crashes into the red

A wipeout in its equity derivatives business helped push Citigroup's investment bank into the red, presaging grim news for staff awaiting their bonuses.

Surge in liabilities as Bank buys government bonds

Pension liabilities among British businesses swelled to a record £255.2bn in December as the Bank of England waded into the market to buy government bonds, the latest figures from the Pension Protection Fund revealed yesterday.

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Day In a Page

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Burgundy, the River Rhone & Provence – Five-star MS Swiss Corona 7 nights from £999pp
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Prices correct as of 19 December 2014
A Christmas without hope: Fears grow in Gaza that the conflict with Israel will soon reignite

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Gaza fears grow that conflict with Israel will soon reignite
After 150 years, you can finally visit the grisliest museum in the country

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Ed Balls interview

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He's behind you, dude!

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From David Hasselhoff to Jerry Hall
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Grace Dent's Christmas Quiz

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Homeless Veterans appeal: Christmas charity auction

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