News

EU watchdogs are preparing to impose multi-million euro fines on six banks, including Royal Bank of Scotland and HSBC, where traders are suspected of having tried to manipulate Euribor interest rates.

Simon Carr: It is time to play the blame game

If no one is blamed, no one is punished and the recession gets worse

The Sketch: The Great Charter of state intrusion

Secondary and tertiary human rights? The political class has discovered derivatives. They are creating layers of political discourse that you cannot penetrate without a QC in one hand and 50 cubic feet of legislation in another.

Close-up: Nasser Azam

The trader who swapped equities for art is laughing all the way to the bank

Chaotic end to Lehmans 'cost $75bn in value'

Bankruptcy of bank could have been better managed

London-based AIG head at heart of US inquiry

United States prosecutors poring over the collapse of AIG are examining whether Joseph Cassano, the former head of its London-based financial products division, misled investors over the health of the derivatives investments that ultimately brought down the insurance giant.

US government grants troubled insurer AIG $150bn in new bailout

The US government ripped up its eight-week-old rescue deal for AIG and signed a new $150bn (£96bn) plan that it hopes will be more likely to save the insurance giant from bankruptcy.

MF Global's chief executive exits after value of derivatives broker sinks by 90% in a year

MF Global, the derivatives broker spun off from FTSE 100 hedge fund giant Man Group last year, has ousted its long-time chief executive and issued another set of disappointing results.

Big US and UK clearing houses agree to merge

The American securities clearing house Depository Trust & Clearing Corporation (DTCC) and its European rival LCH.Clearnet have agreed to combine to create the world's biggest clearing house in an effort to cut trading costs.

Congress mauls bosses of credit ratings agencies

System of rating complex investments was 'nuts'

Attorney General tells AIG: 'The party's over'

The New York Attorney General, Andrew Cuomo, has launched a legal broadside against AIG, saying that the nationalised insurance giant has squandered money on luxury breaks for executives, including an overseas hunting trip and golf sessions.

Mary Dejevsky: Don't blame Thatcher – she was all for sound money

Her view of money was what she'd learned as a grocer's daughter

Chris McGrath: Taameer's talent promises to enrich Tregoning in Derby futures market

You think this lot are bad – these pinstriped highwaymen, the racketeers of the 07.19 to Waterloo? Well, yes, it may be largely thanks to them that our money is tumbling, like autumn leaves, into the slow mulch of recession. But when it comes to cynicism, avarice and downright larceny, really you haven't seen a thing. The bloodstock market could still teach them all a thing or two.

Moment of truth for default derivatives

Valuing of swaps will test the system

Demise of Lehman puts strain on market for credit default swaps

The collapse of Lehman Brothers is putting significant strain on the giant, opaque, market for credit default swaps, in which investors buy protection against the risk of corporate defaults, and reinvigorating longstanding calls for improved regulation of the markets.

Small Talk: Lifting ban on ISAs could help AIM to make up funding shortfall

Nobody needs to be told that the Alternative Investment Market (Aim) is struggling. As better-known groups on the main list complain about the effect of the economy on their businesses, often it is the smaller boys that are feeling the severest pinch.

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On the last day of campaigning before the polling booths open, the SNP leader has written to voters in a final attempt to convince them to vote for independence
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Prices correct as of 17 September 2014
Mystery of the Ground Zero wedding photo

A shot in the dark

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New biography sheds light on comic genius of Douglas Adams
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These Iranian-controlled Shia militias used to specialise in killing American soldiers. Now they are fighting Isis, backed up by US airstrikes

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Shoppers don't come to Topshop for the unique
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Toy breaks out of the nursery and heads for the gallery
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His Save Ulster from Sodomy campaign would surely have been supported by many a Sunni imam
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Exclusive extract from Janis Winehouse's poignant new memoir
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The Imitation Game, film review
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Welbeck double puts England on the road to Euro 2016
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Pictures removed from public view as courts decide ownership
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