News

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

Barclays passes up discount to fight Qatari funding fine

Barclays is continuing to fight the City watchdog’s attempt to fine it £50m over the Qatari fundraising that staved off a taxpayer-funded bailout during the financial crisis.

The Week Ahead: Petra still showing diamond potential

Today

Making money from finding shiny diamonds in the ground is as hard as the shiny gems as the miners try to find. Costs have to be tightly controlled for a miner to make a good profit. But analysts think Petra Diamonds has managed just that. So although earnings might be a little behind the same time last year when it reports its full year results today, Rob Broke, analyst at Westhouse, maintains his Add recommendation. He thinks the company’s “respectable cost control” has made it still an attractive stock. Numis expects its results to be in line with expectations and thinks the “diamond market remains firm.”

The Business Matrix: Friday 13 September 2013

Laundry business boosts Photo-Me

Josef Ackermann: The Zurich Insurance Group chairman quit last week

Swiss executive's suicide note singles out 'aggressive' boss

Finance chief with Zurich Insurance was unhappy with high-profile chairman who has since resigned

Josef Ackermann spoke of ‘shock’ at the suspected suicide of his colleague

Shock as Zurich Insurance head Josef Ackermann quits after finance director's death

Josef Ackermann, the chairman of Switzerland’s top-ranking Zurich Insurance Group and a former head of Deutsche Bank, has stepped down with immediate effect following the suspected suicide of the company’s chief financial officer.

Bank of England Governor Mark Carney called for the defence

Bank of England Governor Mark Carney will be forced to defend his flagship policy of ‘forward guidance’ this week as markets bet on a faster fall in unemployment than the central bank predicts.

Market Report: Investors ditch Afren over Lion sale

The price that African oil explorer Afren got for its Lion Gas plant failed to keep investors happy and they headed for the exit yesterday.

Slavery in the City: Death of 21-year-old intern Moritz Erhardt at Merrill Lynch sparks furore over long hours and macho culture at banks

Young German worked until 6am for three consecutive days before collapse at home in east London    

High hopes for first Glencore results

The new powerhouse of world mining, Glencore Xstrata, will unveil its first set of half-year results next week with analysts expecting bumper profits approaching $6bn (£3.8bn).

Carney gives first steer on UK economy

New Bank of England guidance policy could see interest rates held for foreseeable future

RP Martin pair in court to hear Libor charges

Two former RP Martin brokers appeared in court yesterday before a trial into the alleged manipulation of the London interbank offered rate.

Jim Armitage: Yell in frustration after the demise of Hibu

The demise of Yellow Pages (I refuse to use its awful new names) will be studied by MBA students for decades as a case study of corporate insanity. Few businesses have been so badly run for so many years.

Investors wait on BSkyB buyback decision

BSkyB investors will be eager to see whether the pay-TV giant announces another big share buyback or if it wants to conserve cash for its Premier League football war with BT.

Market Report: Improving news digs miners out of trouble

Miners managed to dig themselves out yesterday after weeks of being in the red as the US bellwether Alcoa reported better than expected results. The aluminium producer is the first to report earnings in the US each quarter, and beat expectations this time around. This, combined with better economic news across the board, a rise in metal prices and news of falling Chinese production costs sent metal miners soaring.

Protestors block streets to European Central Bank in Germany in protests over austerity

Anti-capitalist protesters blocked streets leading to the European Central Bank in Germany in protests over austerity cutbacks.

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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