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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.

Glaxo adds to gloom at RBS

Pharmaceuticals blue-chip GlaxoSmithKline (GSK) has replaced Hoare Govett as one of its brokers, putting more pressure on the Royal Bank of Scotland's corporate broking arm.

EMI pension in £200m talks with Citi

The US bank Citi has started talks with EMI's pension trustees to put cash into the scheme, which could cost it up to £200m.

Oakley ponders HMV Live bid

Peter Dubens' Oakley Capital is among the private equity firms and trade players considering a bid for the live music business of HMV, the troubled entertainment retailer.

Market Report: Housebuilders find their popularity on the wane

The housing market can hardly be said to be booming at the moment, but that hasn't stopped the housebuilders recently, in the Square Mile at least. The sector has found itself rather in favour with investors during 2011, with its stocks managing to outperform the FTSE All Share index by an average of over 20 per cent.

Morgan Stanley to axe 1,600 jobs

Morgan Stanley, one of London's biggest investment banking employers, is to axe 1,600 staff around the world in the first quarter of next year, it announced yesterday.

Market Report: Oils climb on fears output may face new disruption

Talk about good timing. As analysts raised their oil forecasts for 2012 yesterday, citing concerns over the potential for unrest around the world to disrupt production, the black gold's price jumped amid rumours of escalating tension with Iran.

Stephen Foley: Judge's rebuff of SEC's Citibank settlement shows he's no friend of the little guy, after all

US Outlook: Judge Jed Rakoff is not the man you think he is.

'It takes a certain sort of arrogance to decide, in 2007, with music piracy assailing the recording industry, that buying EMI would be a good idea'

EMI sold to Universal for £1.2bn

EMI's iconic recorded music business is set to be taken over by rival Universal after a £1.2 billion deal was agreed today.

Guy Hands returns to court over EMI seizure

Guy Hands, the former private equity owner of EMI, has gone back to court over Citigroup's seizure of the music business earlier this year.

Market Report: Market's slide prompts search for bid targets

As a sell-off of the European banks prompted the top-tier index into another major slide, voices in the City were yesterday mulling over which companies were looking vulnerable to a takeover in the wake of the recent market turmoil.

Securing investment and helping your business to grow

Once you’ve taken the plunge and turned your idea into a successful business, it’s likely that you’ll need to secure investment to help expand your company. But it’s not as simple as approaching potential investors and just walking away with the cash. You will need to know your company inside out and be prepared to justify what the money will be used for.

The Business On... Peter Hargreaves, Executive director, Hargreaves Lansdown

The City is in a bit of lather over Hargreaves Lansdown, we hear?

Stephen Foley: Debt plans seem too vague to save rating

US Outlook: Barack Obama's rhetorical gifts used to be channelled to soaring optimism. Two years in Washington and he can manage only pithy cynicism. The US may lose its triple-A credit rating, he says, "because we lack a triple-A political system".

Yorkshire mops up rest of Egg from Citigroup

Yorkshire Building Society has bought the remains of the internet bank Egg from Citigroup. Egg's credit card business was sold to Barclaycard earlier this year and the building society will take over the mortgage and savings business in the autumn, subject to court approval.

Durex reassures over condom supply

Durex dismissed fears that condom supplies to the UK were under threat yesterday, even though a legal row with a major Indian manufacturer remains unresolved.

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