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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.

People and Business: Lowther signs for England

MERLYN LOWTHER will become the first woman ever to sign our banknotes when she succeeds Graham Kentfield as Chief Cashier of the Bank of England next January.

People and business: How Frankfurt lost a lot in translation

IN TUESDAY'S edition I referred to a German newsletter, Finanzplatz- News, which declared triumphantly that Frankfurt was set to overtake London as Europe's premier financial centre. The front page of the newsletter quoted Dr Lutz Roger Raettig, chairman of the board at Morgan Stanley's German arm, saying: "The differences between London and Frankfurt at the moment are relatively clear cut in favour of Frankfurt."

Banks hit by Russian woe

German lenders prepare to increase provisions to cover $30bn exposure after seeing their share prices drop

PDFM set to be sold for pounds 1.8bn

UBS, THE Swiss bank, is looking to sell PDFM, its UK fund manager, in a deal worth up to pounds 1.8bn. Industry sources said the bank had already identified potential buyers for PDFM, and that an announcement would be made within the next couple of weeks.

People and Business: A small change of mind at Goldman

YOUR STARTER for $35bn: Who told current students at his old university the following? "While much has changed in the increasingly global finance industry, two things won't ... Goldman Sachs will remain a private partnership and will remain in New York."

Taxmen raid Deutsche Bank

GERMANY'S largest bank, Deutsche, was raided by 300 tax inspectors yesterday in the continuing crackdown on tax evasion, writes Imre Karacs in Bonn.

Dutch bank gives boost to City job prospects

A DUTCH investment bank gave a much-needed boost to employment prospects in the City of London yesterday by hiring 12 equity staff - including eight from UBS - and saying it would take on up to an extra 75 by the end of the year.

Revealed - what Credit Suisse really thinks about BZW

`The Independent' was yesterday able to listen in to a highly confidential global video conference held for Credit Suisse First Boston's managing directors in London, New York and Hong Kong to discuss and celebrate the acquisition of BZW's equities and investment banking business on Wednesday. John Willcock reports.

Market Report: Speculation mounts as Lloyds eyes insurance capture

Could Lloyds TSB, the banking group, be contemplating a strike at a leading insurer? Stories flowed that the bank, which takes in the old Cheltenham & Gloucester building society as well as the Lloyds Abbey Life insurance group, planned a cash call to fulfilexpansion aspirations.

Commerzbank rules out purchase of BZW

Pressure mounted on Barclays yesterday to find a buyer for BZW's equities and corporate finance arms after Commerzbank, one of the front- runners, ruled itself out of contention. Tom Stevenson, Financial Editor, reports on the continuing fallout from Barclays' decision to withdraw from investment banking.

BZW sale could be hindered by exodus

Fears were growing yesterday that Barclays will fail to retain key staff at BZW for long enough to finalise a satisfactory sale of the investment bank's equities and corporate finance arms. Tom Stevenson, Financial Editor, reports.

Barclays set to reveal the sale of BZW to a foreign buyer

Staff at BZW have been summoned to an early morning meeting today to be told that the investment bank is to be sold to a continental buyer. Tom Stevenson and Lea Paterson report on a volte face by its parent, Barclays.

Market Report: British Steel forges ahead to make the running with Railtrack

Two privatisation shares made the stock market running. British Steel gained 10.5p to 184.5p and Railtrack reached a new peak, up 32.5p to 809.5p. Their display helped Footsie clamber back above 5,000 points with a 36.7-point gain to 5,013.1.

City & Business: Bankers aren't bonkers

Another week, another banking merger rumour. A lot of people in the City have bet big on the prospect of HSBC gobbling another bank, of NatWest having to make a defensive merger, and of a myriad of combinations involving newly demutualised insurers and building societies and just about any foreign bank that now considers raising money in the equity markets. They are beginning to wonder why these institutions insist on not doing the decent thing.
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The ecological reconstruction of Ikrandraco avatar is shown in this illustration courtesy of Chuang Zhao. Scientists on September 11, 2014 announced the discovery of fossils in China of a type of flying reptile called a pterosaur that lived 120 millions years ago and so closely resembled those creatures from the 2009 film, Avatar that they named it after them.
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