News

Istanbul aggressively increased its overnight lending rate to 12% from 7.75%

Leading bankers warn that new rules will hit recovery

"Too tough" banking regulation will put a "drag on economic recovery" and cost upwards of 10 million jobs globally, the world's leading bankers have warned.

Frieze Art Fair 2010: Get ready for British art's biggest week

Frieze Art Fair is back – and it's bigger than ever, with 173 international galleries. Alice Jones looks forward to this year's event and the week-long whirl of auctions, exhibitions and parties it brings to London

$5,000,000,000,000: The cost each year of vanishing rainforest

British researchers set out the economic impact of species destruction - and their findings are changing world's approach to global warming

PotashCorp goes to court in bid to block BHP buyout

PotashCorp of Saskatchewan, the world's biggest fertiliser company, went to the courts in the US yesterday to fend off BHP Billiton's $38.5bn (£24.6bn) takeover bid, accusing the Anglo-Australian miner of giving "false and conflicting information about BHP's offer and PotashCorp's prospects and true value".

Lehman two years on: banks cheer Basel accord

But there are fears over some countries ignoring the rules. James Moore reports

Bank watchdogs agree Basel III capital overhaul

Regulators double reserve ratios to protect against collapses

Bank heads thrash out Basle III regulations

Top banking officials from 27 countries are locked in talks today in the Swiss town of Basle finalising new, tougher, global capital rules which could force banks to raise fresh equity.

Woods in defiant mood over Ryder Cup form as he returns to scene of past glories

Tiger Woods returned to one of his happy hunting grounds last night riding the momentum from one of the best weeks of a turbulent year into his title defence at the BMW Open.

Spotless Tiger revives his FedEx Cup hopes

These days Tiger Woods may be as well known for his birdies off the course as on it, but there was something a little bit special about the six he accumulated yesterday at the TPC Boston. For the first time in a season marked by personal and private blemishes, the world No 1's six beauties were not accompanied by a black mark.

How you can make bread from the soaring price of wheat

While doing your weekly shop you have probably noticed the price of bread going up – this is due, in part, to wheat soaring on the international exchanges as Russia, a major exporter, is wracked by its worst drought in a century.

Market Report: Traders look to the Fed for holiday season boost

Financial stocks dominated the blue-chip index on what one trader called a "pathetic day for the market" as the silly season continued to drag. The FTSE 100 ended the session 78.1 points higher at 5,410.5. Volumes were weak – less than 300 million shares had been traded halfway through the session – with all eyes on data due to be released on both sides of the Atlantic.

Market Report: Afren buoyed by hopes of African oil strikes

The market veered sharply lower last night, but Afren was broadly unchanged as traders bought in on hopes of upside gains.

BT gains from cost-cutting programme as first-quarter profits climb 17 per cent

BT lifted profits 17 per cent between April to June as its cost-cutting plan continued to pay off, in what the group's chief executive called an "acceptable" start to its financial year.

Market Report: Government axe weighs on Logica's shares

The fiscal squeeze was back on the agenda last night, with Logica failing to make any headway after a warning on the impact of public-sector cuts.

Hamish McRae: The subtle hand we must play on trade

It is not just about the BRICs. The Government is seeking to rebalance Britain's trading relations away from slow-growing Europe to the emerging economies, of which Brazil, Russia, India and China are the largest, and that makes obvious sense. But the other big emerging economies matter too. So it is especially welcome that the Prime Minister should stop off on his great team visit to India (Vince Cable and David Willetts arrived in Bangalore yesterday) and spend time in Turkey.

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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
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