News

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

Leading article: A state-owned bank should be setting an ethical example

News that the Royal Bank of Scotland helped to raise bonds for Europe's last dictatorship earlier this year provides fresh, depressing confirmation of the curious ethics, or rather the lack of them, operating at the heart of what is in effect a state-owned bank. As this newspaper reports today, RBS has now agreed not to do any more deals aimed at alleviating the growing financial difficulties besetting the authoritarian regime of Alexander Lukashenko in Belarus. But this is cold comfort, as RBS has only budged in response to sustained pressure from human rights groups. In other words the bank appears to have been shamed into abandoning a policy it was otherwise content to continue with.

Market Report: Budget airlines tipped to fly whatever the weather

Things may have looked rather brighter on the blue-chip index last night after a volatile session finished with a major rally, but the possible effects of the worst-case scenario for the economy were still being mulled over in the City.

Firms chance their arm on two heads

Investors are wary, boards rarely go for it, but Deutsche Bank has hired joint CEOs. Nick Clark finds it may not be crazy

UBS to slash jobs in £1.5bn cost-cutting after profits nosedive

The European debt crisis dragged down investment banking profits at UBS and Deutsche Bank in the second quarter, forcing the Swiss bank to announce drastic cost cuts that will include significant job losses over the next three years and to scale back its longer-term profit expectations.

Deutsche Bank names new chief executives

Deutsche Bank has confirmed that Anshu Jain and Jürgen Fitschen will take over as co-chief executives at the bank when Josef Ackermann steps down next May.

Leo Kirch: Entrepreneur who built up one of Europe's largest media empires only to see it fall apart

From nothing Leo Kirch built up one of the largest film and television companies in Europe, employing nearly 10,000 people. Inevitably, he was compared to Rupert Murdoch and Silvio Berlusconi.

Rate rise before 2012 unlikely as inflation registers surprise fall

Inflation unexpectedly eased last month, reducing the chance of an interest-rate rise this year.

The Business On: Anshu Jain Head of Investment Banking, Deutsche Bank

In line for a promotion, we hear?

Investment Column: Results highlight Chemring's strengths

Safestore; Go-Ahead

Glencore disappoints despite rising profits

Glencore, the commodity-trading giant which began life as public company with a blockbuster listing last month, missed forecasts with its maiden results yesterday.

Business Diary: Deal or no deal gloom at LSE

Times are tough at the London Stock Exchange. A couple of months ago, the bourse thought it had pulled off a coup by announcing the takeover of TMX, the Canadian exchange. Within hours, the deal was left looking distinctly small fry after NYSE Euronext and Deutsche Bourse announced a mega merger, and now it looks as if it may not even get TMX thanks to a late bid from a rival in Canada. To add insult to injury, LSE officials were forced to spend the bank holiday weekend scrambling to deny rumours it is poised to do another deal following erroneous reports that it has bid for LCH Clearnet, the European clearing house.

Buyout firms pull float of vacuum firm Edwards due to market uncertainties

Edwards group, which supplies vacuum technology to a range of electronics and industrial groups, has pulled its float at the 11th hour, blaming uncertainty in the markets.

UK's soft bank rules 'dragging down' reform

Claims by British banking regulators that a lack of global agreement has prevented them from introducing tougher rules for the financial sector mask inaction that is dragging down standards in the rest of the world, a report warned today.

Business Diary: Turner hones his CV for Bank job

Adair Turner will be a busy Lord over the next couple of days. Tonight in a speech at Cass Business School, the chairman of the Financial Services Authority (FSA) is tackling the thorny issue of banks that are too big to fail and other challenges for financial stability. Tomorrow is his big set-piece event of the year, in which he sets out the FSA's views on macro-economic and financial trends. Come to think of it, these are just the mix of credentials you would need to become the next Bank of England Governor when Mervyn King steps down in 2013. The two-year job application starts here.

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Prices correct as of 21 November 2014
Homeless Veterans Christmas Appeal: Drifting and forgotten - turning lives around for ex-soldiers

Homeless Veterans Christmas Appeal: Turning lives around for ex-soldiers

Our partner charities help veterans on the brink – and get them back on their feet
Tove Jansson's Moominland: What was the inspiration for Finland's most famous family?

Escape to Moominland

What was the inspiration for Finland's most famous family?
Nightclubbing with Richard Young: The story behind his latest book of celebrity photographs

24-Hour party person

Photographer Richard Young has been snapping celebrities at play for 40 years. As his latest book is released, he reveals that it wasn’t all fun and games
Michelle Obama's school dinners: America’s children have a message for the First Lady

A taste for rebellion

US children have started an online protest against Michelle Obama’s drive for healthy school meals by posting photos of their lunches
Colouring books for adults: How the French are going crazy for Crayolas

Colouring books for adults

How the French are going crazy for Crayolas
Jack Thorne's play 'Hope': What would you do as a local politician faced with an impossible choice of cuts?

What would you do as a local politician faced with an impossible choice of cuts?

Playwright Jack Thorne's latest work 'Hope' poses the question to audiences
Ed Harcourt on Romeo Beckham and life as a court composer at Burberry

Call me Ed Mozart

Paloma Faith, Lana del Ray... Romeo Beckham. Ed Harcourt has proved that he can write for them all. But it took a personal crisis to turn him from indie star to writer-for-hire
10 best stocking fillers for foodies

Festive treats: 10 best stocking fillers for foodies

From boozy milk to wasabi, give the food-lover in your life some extra-special, unusual treats to wake up to on Christmas morning
'I have an age of attraction that starts as low as four': How do you deal with a paedophile who has never committed a crime?

'I am a paedophile'

Is our approach to sex offenders helping to create more victims?
How bad do you have to be to lose a Home Office contract?

How bad do you have to be to lose a Home Office contract?

Serco given Yarl’s Wood immigration contract despite ‘vast failings’
Green Party on the march in Bristol: From a lost deposit to victory

From a lost deposit to victory

Green Party on the march in Bristol
Putting the grot right into Santa's grotto

Winter blunderlands

Putting the grot into grotto
'It just came to us, why not do it naked?' London's first nude free runner captured in breathtaking images across capital

'It just came to us, why not do it naked?'

London's first nude free runner captured in breathtaking images across capital
In a world of Saudi bullying, right-wing Israeli ministers and the twilight of Obama, Iran is looking like a possible policeman of the Gulf

Iran is shifting from pariah to possible future policeman of the Gulf

Robert Fisk on our crisis with Iran
The young are the new poor: A third of young people pushed into poverty

The young are the new poor

Sharp increase in the number of under-25s living in poverty