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.

Stop firing crucial back-office staff, FSA warns banks

The Financial Services Authority has told investment banks to improve checks to prevent mis-pricing of trading positions and to stop firing staff who work in valuation control functions.

Merrill shocks Wall Street with $8.5bn share sale

Merrill Lynch, the investment banking giant that has lost more than $40bn (£20.1bn) on its mortgage investments since the start of the credit crisis, shocked Wall Street last night with plans to raise $8.5bn in new shares.

Regulator investigates 'market manipulation' by jet fuel speculators

Accusations of price manipulation in the soaring market for jet fuel are among dozens of allegations being investigated by commodities regulators in the United States, where the public and politicians have rounded on "speculators" for driving up the cost of oil and everyday inflation.

CME fights to save $9.1bn takeover of Nymex

The Chicago Mercantile Exchange is fighting to save its $9.1bn takeover of the Nymex, the historic home of oil trading in New York, in the face of trader opposition, shareholder lawsuits and an inexorable decline in the value of its offer.

Album: Freddie Redd, Shades of Redd Blue Note

Redd was a jobbing hard-bop pianist and composer blessed with, in bop terms, a heavenly ear for a "chewn".

Lehman suspends equity traders in London

Lehman Brothers, the Amer-ican investment bank, has suspended two equity trad-ers in London after its internal controls showed up issues related to share valuations.

Trading security: 'If I were to say it couldn't happen here, well, that's bullshit'

Banks across the City of London have launched urgent reviews of their security procedures in the wake of the Société Générale scandal.

BNP Paribas hints it may bid for embattled rival SocGen

BNP Paribas yesterday gave its first hint that it may bid for Société Générale since its arch rival became vulnerable to takeovers in the wake of last week's rogue trading scandal.

Margareta Pagano: Savage for SocGen and a slap in the Fed's face

Eat your heart out, Nick Leeson. Your place in the annals of financial fraud has been trumped by a trader at Société Générale who has cost his bank €5bn (£3.7bn), and who may yet cause France's second-biggest bank to lose its independence. The predators are already prowling, with France's BNP Paribas, which has tried for years to merge with SocGen, the favourite.

Rogue trader: bank admits losing billions

The second biggest bank in France today admitted it had lost 4.9 billion euros (£3.7bn) at the hands of a rogue trader in one of the biggest banking frauds in history.

More Deutsche cash for Euronext

Market Report: Britvic sparkles as talk of French bid bubbles

Two profits warnings in its first six months as a listed company have made the management at the soft drink makerBritvic about as popular in the City as an outbreak of the plague. That may be about to change, though, with the French private-equity group PAI poised to make an offer worth 280p per share.

Race to find flagship of first US naval hero - in North Sea

Teams from both sides of the Atlantic to search for wreck of John Paul Jones's frigate off Yorkshire coast
Arts and Entertainment
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Angelina Jolie with her father Jon Voight
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Bill Kerr has died aged 92
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Life and Style
A picture taken on January 12, 2011 shows sex shops at the Paris district of Pigalle.
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Keira Knightley poses topless for a special September The Photographer's issue of Interview Magazine, out now
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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
Mary Rose – two nights from £319pp
Ukraine crisis: The phoney war is over as Russian troops and armour pour across the border

The phoney war is over

Russian troops and armour pour into Ukraine
Potatoes could be off the menu as crop pests threaten UK

Potatoes could be off the menu as crop pests threaten UK

The world’s entire food system is under attack - and Britain is most at risk, according to a new study
Gangnam smile: why the Chinese are flocking to South Korea to buy a new face

Gangnam smile: why the Chinese are flocking to South Korea to buy a new face

Seoul's plastic surgery industry is booming thanks to the popularity of the K-Pop look
From Mozart to Orson Welles: Creative geniuses who peaked too soon

Creative geniuses who peaked too soon

After the death of Sandy Wilson, 90, who wrote his only hit musical in his twenties, John Walsh wonders what it's like to peak too soon and go on to live a life more ordinary
Caught in the crossfire of a cyber Cold War

Caught in the crossfire of a cyber Cold War

Fears are mounting that Vladimir Putin has instructed hackers to target banks like JP Morgan
Salomé's feminine wiles have inspired writers, painters and musicians for 2,000 years

Salomé: A head for seduction

Salomé's feminine wiles have inspired writers, painters and musicians for 2,000 years. Now audiences can meet the Biblical femme fatale in two new stage and screen projects
From Bram Stoker to Stanley Kubrick, the British Library's latest exhibition celebrates all things Gothic

British Library celebrates all things Gothic

Forthcoming exhibition Terror and Wonder: The Gothic Imagination will be the UK's largest ever celebration of Gothic literature
The Hard Rock Café's owners are embroiled in a bitter legal dispute - but is the restaurant chain worth fighting for?

Is the Hard Rock Café worth fighting for?

The restaurant chain's owners are currently embroiled in a bitter legal dispute
Caribbean cuisine is becoming increasingly popular in the UK ... and there's more to it than jerk chicken at carnival

In search of Caribbean soul food

Caribbean cuisine is becoming increasingly popular in the UK ... and there's more to it than jerk chicken at carnival
11 best face powders

11 best face powders

Sweep away shiny skin with our pick of the best pressed and loose powder bases
England vs Norway: Roy Hodgson's hands tied by exploding top flight

Roy Hodgson's hands tied by exploding top flight

Lack of Englishmen at leading Premier League clubs leaves manager hamstrung
Angel Di Maria and Cristiano Ronaldo: A tale of two Manchester United No 7s

Di Maria and Ronaldo: A tale of two Manchester United No 7s

They both inherited the iconic shirt at Old Trafford, but the £59.7m new boy is joining a club in a very different state
Israel-Gaza conflict: No victory for Israel despite weeks of death and devastation

Robert Fisk: No victory for Israel despite weeks of devastation

Palestinians have won: they are still in Gaza, and Hamas is still there
Mary Beard writes character reference for Twitter troll who called her a 'slut'

Unlikely friends: Mary Beard and the troll who called her a ‘filthy old slut’

The Cambridge University classicist even wrote the student a character reference
America’s new apartheid: Prosperous white districts are choosing to break away from black cities and go it alone

America’s new apartheid

Prosperous white districts are choosing to break away from black cities and go it alone