News China’s new President Xi Jinping

Relative of President Xi Jinping accused of being a director of an offshore company based in the British Virgin Islands

Market Report: Metals up but silver looks more than a bit tarnished

The mining sector was buoyant last night but Fresnillo fell back, ending as one the of the worst-performing blue chips of the day, after silver prices booked their worst three month run since the third quarter of 2008.

Business Diary: Choking on the chocolate

Thorntons' strategy-review statement yesterday was a grim example of management speak. The lowlights included "a more focused retail estate with a differentiated customer proposition", "a de-risked business" that "positions the company for sustainable future growth", and a push to "grow the relevance of other all-year-round gifting occasions".

Business Diary: Now we all own a record store

Next time you're in HMV, feel free to be as demanding as you like – after all, you're one of the owners of the business now and thattruculent sales assistant works for you. The deal agreed yesterday with HMV sees its lenders effectively taking a 5 per cent stake in the business. The biggest of those lenders are Royal Bank of Scotland and Lloyds Banking Group, which, of course, are majority owned by the taxpayer. So as long as you're up-to-date with the taxman, HMV is yours.

Vodafone is expected to announce £11.8bn profit

Vodafone, the FTSE’s third-biggest company, is expected to announce a pre-tax profit of nearly £11.8bn in its annual results on Tuesday, from a turnover of around £45.5bn.

HMV's talks with Mamut over Waterstone's on hold

HMV's efforts to sell its Waterstone's book business are being stymied by a stand-off between the beleaguered entertainment group's banks and the potential buyer, Alexander Mamut, over price. The Russian billionaire is thought to have offered between £35m and £40m to acquire the 297-store bookseller but HMV's banks want as much as £70m for the chain. Mr Mamut's exclusivity period on bidding for Waterstone's has ended and talks have not now taken place for more than a week. While the oligarch may still complete a deal, other parties are thought to have approached HMV about a deal for Waterstone's.

Market Report: Profit-taking takes the shine off Derwent's stock

Derwent London was under pressure last night as traders banked profits on the view that it may already be pricing in the positive outlook for the capital's property market.

The Business On... Mark Gorton, Founder, LimeWire

Is that still going? I can't get the website to work these days.

One-stop savings shop falls down on rates

Savers looking for a home for their cash are being promised a "one-stop shop" to help them to find the best deal.

Glencore's banks value trader at up to $69bn

Glencore, the commodities trader which is planning to raise up to $11bn (£6.7bn) in a flotation planned for next month, is already worth as much as $69bn (£42.3bn), with its earnings set to double in two years, according to research from two banks underwriting the Swiss firm's potentially record-breaking listing.

Market Report: Rising hopes of takeover lift Anglo American up

As analysts talked up the likelihood of the mining giant receiving a takeover approach, Anglo American was driven to the top of the blue-chip index, helped by deal activity elsewhere in the sector and a rise in commodity prices.

HMV opts for a break-up to ease debt woes

HMV has put its Waterstone's chain of bookshops and the Canadian arm of its business up for sale as the struggling entertainment retailer opts for a break-up to cut its £130m debt.

The hour the world goes dark

Lights will switch off around the globe tomorrow for the fifth annual Earth Hour.

The Business On... Brady Dougan, Chief executive, Credit Suisse

He's in the money, we hear?

Business Diary: Leigh-Pemberton runs the gauntlet

Not all bankers think they're too grand to mix with the hoi polloi. Spotted yesterday on the Central Line on the London Underground: James Leigh-Pemberton, the chief executive of Credit Suisse'sbusiness in the UK. The Diary's spy knew it was him on account of the fact that he'd forgotten to take the name badge off his suit from whatever function he had just been attending. Leigh-Pemberton realised his mistake after a couple of stops and hastily removed the badge before the rest of the carriage realised one of the masters of the universe was among them. Luckily, it was a bit early in the morning for banker-bashing.

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