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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University Edible Garden, Leeds – a sustainable garden in the centre of the university, passers-by can help themselves to the home-grown produce
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Day In a Page

Burgundy, the River Rhone & Provence – MS Swiss Corona - seven nights from £999pp
Lake Maggiore, Orta and the Matterhorn – seven nights from £899pp
Sicily – seven nights from £939pp
Pompeii, Capri and the Bay of Naples - seven nights from £799pp
Istanbul Ephesus & Troy – six nights from £859pp
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Save the tiger: The animals bred for bones on China’s tiger farms

The animals bred for bones on China’s tiger farms

The big cats kept in captivity to perform for paying audiences and then, when dead, their bodies used to fortify wine
A former custard factory, a Midlands bog and a Leeds cemetery all included in top 50 hidden spots in the UK

A former custard factory, a Midlands bog and a Leeds cemetery

Introducing the top 50 hidden spots in Britain
Ebola epidemic: Plagued by fear

Ebola epidemic: Plagued by fear

How a disease that has claimed fewer than 2,000 victims in its history has earned a place in the darkest corner of the public's imagination
Chris Pratt: From 'Parks and Recreation' to 'Guardians of the Galaxy'

From 'Parks and Recreation' to 'Guardians of the Galaxy'

He was homeless in Hawaii when he got his big break. Now the comic actor Chris Pratt is Hollywood's new favourite action star
How live cinema screenings can boost arts audiences

How live cinema screenings can boost arts audiences

Broadcasting plays and exhibitions to cinemas is a sure-fire box office smash
Shipping container hotels: Pop-up hotels filling a niche

Pop-up hotels filling a niche

Spending the night in a shipping container doesn't sound appealing, but these mobile crash pads are popping up at the summer's biggest events
Native American headdresses are not fashion accessories

Feather dust-up

A Canadian festival has banned Native American headwear. Haven't we been here before?
Boris Johnson's war on diesel

Boris Johnson's war on diesel

11m cars here run on diesel. It's seen as a greener alternative to unleaded petrol. So why is London's mayor on a crusade against the black pump?
5 best waterproof cameras

Splash and flash: 5 best waterproof cameras

Don't let water stop you taking snaps with one of these machines that will take you from the sand to meters deep
Louis van Gaal interview: Manchester United manager discusses tactics and rebuilding after the David Moyes era

Louis van Gaal interview

Manchester United manager discusses tactics and rebuilding after the David Moyes era
Will Gore: The goodwill shown by fans towards Alastair Cook will evaporate rapidly if India win the series

Will Gore: Outside Edge

The goodwill shown by fans towards Alastair Cook will evaporate rapidly if India win the series
The children were playing in the street with toy guns. The air strikes were tragically real

The air strikes were tragically real

The children were playing in the street with toy guns
Boozy, ignorant, intolerant, but very polite – The British, as others see us

Britain as others see us

Boozy, ignorant, intolerant, but very polite
How did our legends really begin?

How did our legends really begin?

Applying the theory of evolution to the world's many mythologies
Watch out: Lambrusco is back on the menu

Lambrusco is back on the menu

Naff Seventies corner-shop staple is this year's Aperol Spritz