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
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Prices correct as of 17 October 2014
Wilko Johnson, now the bad news: musician splits with manager after police investigate assault claims

Wilko Johnson, now the bad news

Former Dr Feelgood splits with manager after police investigate assault claims
Mark Udall: The Democrat Senator with a fight on his hands ahead of the US midterm elections

Mark Udall: The Democrat Senator with a fight on his hands

The Senator for Colorado is for gay rights, for abortion rights – and in the Republicans’ sights as they threaten to take control of the Senate next month
New discoveries show more contact between far-flung prehistoric humans than had been thought

New discoveries show more contact between far-flung prehistoric humans than had been thought

Evidence found of contact between Easter Islanders and South America
Cerys Matthews reveals how her uncle taped 150 interviews for a biography of Dylan Thomas

Cerys Matthews on Dylan Thomas

The singer reveals how her uncle taped 150 interviews for a biography of the famous Welsh poet
DIY is not fun and we've finally realised this as a nation

Homebase closures: 'DIY is not fun'

Homebase has announced the closure of one in four of its stores. Nick Harding, who never did know his awl from his elbow, is glad to see the back of DIY
The Battle of the Five Armies: Air New Zealand releases new Hobbit-inspired in-flight video

Air New Zealand's wizard in-flight video

The airline has released a new Hobbit-inspired clip dubbed "The most epic safety video ever made"
Pumpkin spice is the flavour of the month - but can you stomach the sweetness?

Pumpkin spice is the flavour of the month

The combination of cinnamon, clove, nutmeg (and no actual pumpkin), now flavours everything from lattes to cream cheese in the US
11 best sonic skincare brushes

11 best sonic skincare brushes

Forget the flannel - take skincare to the next level by using your favourite cleanser with a sonic facial brush
Paul Scholes column: I'm not worried about Manchester United's defence - Chelsea test can be the making of Phil Jones and Marcos Rojo

Paul Scholes column

I'm not worried about Manchester United's defence - Chelsea test can be the making of Jones and Rojo
Frank Warren: Boxing has its problems but in all my time I've never seen a crooked fight

Frank Warren: Boxing has its problems but in all my time I've never seen a crooked fight

While other sports are stalked by corruption, we are an easy target for the critics
Jamie Roberts exclusive interview: 'I'm a man of my word – I'll stay in Paris'

Jamie Roberts: 'I'm a man of my word – I'll stay in Paris'

Wales centre says he’s not coming home but is looking to establish himself at Racing Métro
How could three tourists have been battered within an inch of their lives by a burglar in a plush London hotel?

A crime that reveals London's dark heart

How could three tourists have been battered within an inch of their lives by a burglar in a plush London hotel?
Meet 'Porridge' and 'Vampire': Chinese state TV is offering advice for citizens picking a Western moniker

Lost in translation: Western monikers

Chinese state TV is offering advice for citizens picking a Western moniker. Simon Usborne, who met a 'Porridge' and a 'Vampire' while in China, can see the problem
Handy hacks that make life easier: New book reveals how to rid your inbox of spam, protect your passwords and amplify your iPhone

Handy hacks that make life easier

New book reveals how to rid your email inbox of spam, protect your passwords and amplify your iPhone with a loo-roll
KidZania lets children try their hands at being a firefighter, doctor or factory worker for the day

KidZania: It's a small world

The new 'educational entertainment experience' in London's Shepherd's Bush will allow children to try out the jobs that are usually undertaken by adults, including firefighter, doctor or factory worker