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.

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.

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.

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.

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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Independent Travel
Burgundy, the River Rhone & Provence – Five-star MS Swiss Corona 7 nights from £999pp
Lake Como St Moritz & the Bernina Express 7 nights from £809pp
Vietnam
Lake Maggiore, Orta & the Matterhorn 7 nights from £939pp
South Africa
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Prices correct as of 19 December 2014
Homeless Veterans appeal: 'You look for someone who's an inspiration and try to be like them'

Homeless Veterans appeal

In 2010, Sgt Gary Jamieson stepped on an IED in Afghanistan and lost his legs and an arm. He reveals what, and who, helped him to make a remarkable recovery
Could cannabis oil reverse the effects of cancer?

Could cannabis oil reverse effects of cancer?

As a film following six patients receiving the controversial treatment is released, Kate Hilpern uncovers a very slippery issue
The Interview movie review: You can't see Seth Rogen and James Franco's Kim Jong Un assassination film, but you can read about it here

The Interview movie review

You can't see Seth Rogen and James Franco's Kim Jong Un assassination film, but you can read about it here
Serial mania has propelled podcasts into the cultural mainstream

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People have consumed gripping armchair investigation Serial with a relish typically reserved for box-set binges
Jesus Christ has become an unlikely pin-up for hipster marketing companies

Jesus Christ has become an unlikely pin-up

Kevin Lee Light, aka "Jesus", is the newest client of creative agency Mother while rival agency Anomaly has launched Sexy Jesus, depicting the Messiah in a series of Athena-style poses
Rosetta space mission voted most important scientific breakthrough of 2014

A memorable year for science – if not for mice

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Christmas cocktails to make you merry: From eggnog to Brown Betty and Rum Bumpo

Christmas cocktails to make you merry

Mulled wine is an essential seasonal treat. But now drinkers are rediscovering other traditional festive tipples. Angela Clutton raises a glass to Christmas cocktails
5 best activity trackers

Fitness technology: 5 best activity trackers

Up the ante in your regimen and change the habits of a lifetime with this wearable tech
Paul Scholes column: It's a little-known fact, but I have played one of the seven dwarves

Paul Scholes column

It's a little-known fact, but I have played one of the seven dwarves
Fifa's travelling circus once again steals limelight from real stars

Fifa's travelling circus once again steals limelight from real stars

Club World Cup kicked into the long grass by the continued farce surrounding Blatter, Garcia, Russia and Qatar
Frank Warren column: 2014 – boxing is back and winning new fans

Frank Warren: Boxing is back and winning new fans

2014 proves it's now one of sport's biggest hitters again
Jeb Bush vs Hillary Clinton: The power dynamics of the two first families

Jeb Bush vs Hillary Clinton

Karen Tumulty explores the power dynamics of the two first families
Stockholm is rivalling Silicon Valley with a hotbed of technology start-ups

Stockholm is rivalling Silicon Valley

The Swedish capital is home to two of the most popular video games in the world, as well as thousands of technology start-ups worth hundreds of millions of pounds – and it's all happened since 2009
Did Japanese workers really get their symbols mixed up and display Santa on a crucifix?

Crucified Santa: Urban myth refuses to die

The story goes that Japanese store workers created a life-size effigy of a smiling "Father Kurisumasu" attached to a facsimile of Our Lord's final instrument of torture
Jennifer Saunders and Kate Moss join David Walliams on set for TV adaptation of The Boy in the Dress

The Boy in the Dress: On set with the stars

Walliams' story about a boy who goes to school in a dress will be shown this Christmas