News

Jail-sentenced billionaire Mehmet Karamehmet is being sued for almost $10m (£6.6m) in the High Court over loans issued to Maltese shipping company Blue Shipping.

Bidders set for £100m battle over New Star

New Star Asset Management, the fund manager that controlled a tenth of the retail investment market as recently as two years ago, will be sold for a knock-down price by the end of the month.

German government injects €10bn into Commerzbank

State to take 25 per cent stake to preserve merger deal with Dresdner Bank

Sterling hits new record low against euro

Sterling hit a record low against the euro and a basket of currencies today as pessimism about the UK economy was reinforced by a think tank report showing a sharp contraction in growth.

New Starfalls back down to earth

The fund manager founded by John Duffield amid much fanfare in 2000 is in trouble after racking up debt now worth more than 10 times its falling market value. Mathieu Robbins reports

Japan the latest economy to fall into recession as exports drop off

Japan became the latest country yesterday to succumb to the disintegrating global markets and fall into recession, its first since the technology bubble burst seven years ago.

SocGen profits fall 84 per cent on Lehmans write-offs

The fallout from the collapse of Lehman Brothers continued yesterday, as two of Europe's biggest banks came clean on their exposure to the fourth-biggest US investment bank, which went bankrupt in September.

The great Wall St earthquake

The disappearance of two more giant investment banks will transform an industry whose business model has been broken on the wheel of the credit crunch. By Nick Clark

City braced for fresh round of banking job cuts

Commerzbank plans to shed 1,200 jobs in London as it agrees to buy out Dresdner for €8.8bn

Jeremy Warner's Outlook: The economy looks bad, but not nearly as bad as the blundering Government

Market moving business and economic news comes from the oddest of sources these days, and none more unexpected than The Guardian's Weekend magazine, home to lifestyle and celebrity tittle tattle.

Commerzbank set to seal deal on Dresdner takeover

Allianz, the giant German insurer, is expected to announce as early as tomorrow the sale of its retail and investment bank Dresdner to Commerzbank, with insiders expecting the takeover to be worth about €9bn (£7.2bn). Rumours earlier this year had linked Lloyds TSB with a possible rival bid.

FTSE 100 ends week in bear market territory

The benchmark FTSE 100 index of blue-chip shares closed in bear market territory for the first time since the dotcom crash after it plunged nearly 3 per cent at the end of another dire week for UK investors.

Santander considers making a move for Dresdner

Banco Santander, the Spanish group that owns Abbey, is considering a move to gatecrash the proposed merger between Commerzbank and Dresdner Bank, although insiders believe an all-German tie-up is already a "done deal".

Lloyds eyes German market for overseas expansion

Lloyds TSB is considering a bid for Deutsche Postbank, Germany's biggest retail bank, to put into action its long-held ambition to expand internationally.

Reassurances from Schwartz fail to clear the storm

Alan Schwartz went on television on Wednesday to try to dispel the rumours mounting over Bear Stearns for the previous 48 hours. Speaking from a conference in Florida, he painted a sunny picture of the bank's finances.

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Prices correct as of 21 November 2014
Homeless Veterans Christmas Appeal: ‘We give them hope. They come to us when no one else can help’

Christmas Appeal

Meet the charity giving homeless veterans hope – and who they turn to when no one else can help
Should doctors and patients learn to plan humane, happier endings rather than trying to prolong life?

Is it always right to try to prolong life?

Most of us would prefer to die in our own beds, with our families beside us. But, as a GP, Margaret McCartney sees too many end their days in a medicalised battle
Thomas Cook's outgoing boss Harriet Green got by on four hours sleep a night - is that what it takes for women to get to the top?

What does it take for women to get to the top?

Thomas Cook's outgoing boss Harriet Green got by on four hours sleep a night and told women they had to do more if they wanted to get on
Christmas jumper craze: Inside the UK factory behind this year's multicultural must-have

Knitting pretty: British Christmas Jumpers

Simmy Richman visits Jack Masters, the company behind this year's multicultural must-have
French chefs have launched a campaign to end violence in kitchens - should British restaurants follow suit?

French chefs campaign against bullying

A group of top chefs signed a manifesto against violence in kitchens following the sacking of a chef at a Paris restaurant for scalding his kitchen assistant with a white-hot spoon
Radio 4 to broadcast 10-hour War and Peace on New Year's Day as Controller warns of cuts

Just what you need on a New Year hangover...

Radio 4 to broadcast 10-hour adaptation of War and Peace on first day of 2015
Cuba set to stage its first US musical in 50 years

Cuba to stage first US musical in 50 years

Claire Allfree finds out if the new production of Rent will hit the right note in Havana
Christmas 2014: 10 best educational toys

Learn and play: 10 best educational toys

Of course you want them to have fun, but even better if they can learn at the same time
Paul Scholes column: I like Brendan Rodgers as a manager but Liverpool seem to be going backwards not forwards this season

Paul Scholes column

I like Brendan Rodgers as a manager but Liverpool seem to be going backwards not forwards this season
Lewis Moody column: Stuart Lancaster has made all the right calls – now England must deliver

Lewis Moody: Lancaster has made all the right calls – now England must deliver

So what must the red-rose do differently? They have to take the points on offer 
Cameron, Miliband and Clegg join forces for Homeless Veterans campaign

Cameron, Miliband and Clegg join forces for Homeless Veterans campaign

It's in all our interests to look after servicemen and women who fall on hard times, say party leaders
Millionaire Sol Campbell wades into wealthy backlash against Labour's mansion tax

Sol Campbell cries foul at Labour's mansion tax

The former England defender joins Myleene Klass, Griff Rhys Jones and Melvyn Bragg in criticising proposals
Nicolas Sarkozy returns: The ex-President is preparing to fight for the leadership of France's main opposition party – but will he win big enough?

Sarkozy returns

The ex-President is preparing to fight for the leadership of France's main opposition party – but will he win big enough?
Is the criticism of Ed Miliband a coded form of anti-Semitism?

Is the criticism of Miliband anti-Semitic?

Attacks on the Labour leader have coalesced around a sense that he is different, weird, a man apart. But is the criticism more sinister?
Ouija boards are the must-have gift this Christmas, fuelled by a schlock horror film

Ouija boards are the must-have festive gift

Simon Usborne explores the appeal - and mysteries - of a century-old parlour game