News

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

Forth Ports opens books to Arcus for £744m bid

Britain's last independent listed ports operator may finally be about to sell out as Forth Ports opens its books to a £744m offer from Arcus Capital.

Market Report: Kingfisher falls back as B&Q worries build up

Kingfisher closed at its lowest price since December last night thanks to fears over the challenges facing its flagship B&Q chain.

FSA fines Deutsche for 'irresponsible' mortgages Mortgages

The financial watchdog has slapped a fine on DB Mortgages, the first time a mortgage lender has been censured for "irresponsible lending" and the fourth time a lender has been fined in the past two years.

David Prosser: A watchdog that failed to bark or bite

Outlook The case of Deutsche Bank's irresponsible mortgage lending might be seen as a microcosm of everything that has been wrong with the UK's approach to protecting consumers from the financial services industry's sales sharks over the past few years. And the fact that the Financial Services Authority has now whacked the bank with a big fine and an even bigger compensation bill is no vindication of the regulatory system.

Lender fined over mortgage failings

A sub-prime lender has been fined £840,000 and told to pay £1.5 million in compensation for irresponsible lending practices and failing to treat customers who fell behind with their mortgages fairly.

Lambert among business brains chosen for new regulatory body

The four external members appointed by Chancellor George Osborne to join a new Bank of England committee which will oversee financial regulation in the UK were announced yesterday, as the Government released more details on its plans to replace the Financial Services Authority (FSA).

Looking North: The solution to Britain's laddish boardrooms

The evidence is that quotas work. More importantly, they make a difference to the bottom line. Margareta Pagano investigates

The Business On... Axel Weber, President, Deutsche Bundesbank

The archetypal German banker?

Demand for metals will double within 20 years, says Rio Tinto

Rio Tinto is bullish about future prospects, as a senior executive yesterday predicted the demand for some metals would double in less than two decades.

Service sector revels in thaw to bounce back

Companies in the service sector – which accounts for 70 per cent of GDP – bounced back to business as usual in January, after the early heavy snow disrupted their activities in December.

Cuts pay off for BT as broadband pressures rise

BT Group will hope to put out a strong response to moves by rivals to muscle in on its territory when it reports third-quarter numbers this week.

Business Diary: New Look tries to bury the bad news

Good for Nick Bubb, the Arden Partners retail analyst, for calling it like it is. Did those retailers with less-than-happy trading news to impart choose yesterday because it was such a crowded day for high street updates, he wondered out loud in a note to clients. "This is a good day to bury bad news, so pride of place should go to the PR geniuses at Tulchan for choosing today to announce that like-for-likes at [their client] New Look were down 9 per cent," said the cynical Bubb.

Market Report: Regulation worries weigh on Vodafone

Investors were hanging up on Vodafone last night, as analysts urged caution over what the year ahead will bring for the telecommunications giant. Concerns over regulation and an increase in competition led Barclays Capital to reduce its advice on the mobile phone company to "equal weight" from "overweight".

The Week Ahead: Ocado hopes update will keep it driving forwards

Investors were not exactly raving about Ocado after it floated in July, but things have been looking up recently for the online grocer and last week it finally made it past its initial float price of 180p.

Deutsche agrees to pay fine over tax-shelter advice

Deutsche Bank, the German financial giant, agreed to pay fines totalling $554m in order to avoid prosecution in the US over tax shelter advice it gave to wealthy investors.

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Independent Travel
Pompeii, Capri & the Bay of Naples
Dubrovnik, the Dalmatian Coast & Montenegro
Burgundy, the River Rhone & Provence
Lisbon, Oporto and the Douro Valley
Lake Garda, Venice & Verona
Spain
Prices correct as of 23 January 2015
Isis hostage crisis: Militant group stands strong as its numerous enemies fail to find a common plan to defeat it

Isis stands strong as its numerous enemies fail to find a common plan to defeat it

The jihadis are being squeezed militarily and economically, but there is no sign of an implosion, says Patrick Cockburn
Virtual reality thrusts viewers into the frontline of global events - and puts film-goers at the heart of the action

Virtual reality: Seeing is believing

Virtual reality thrusts viewers into the frontline of global events - and puts film-goers at the heart of the action
Homeless Veterans appeal: MP says Coalition ‘not doing enough’

Homeless Veterans appeal

MP says Coalition ‘not doing enough’ to help
Larry David, Steve Coogan and other comedians share stories of depression in new documentary

Comedians share stories of depression

The director of the new documentary, Kevin Pollak, tells Jessica Barrett how he got them to talk
Has The Archers lost the plot with it's spicy storylines?

Has The Archers lost the plot?

A growing number of listeners are voicing their discontent over the rural soap's spicy storylines; so loudly that even the BBC's director-general seems worried, says Simon Kelner
English Heritage adds 14 post-war office buildings to its protected lists

14 office buildings added to protected lists

Christopher Beanland explores the underrated appeal of these palaces of pen-pushing
Human skull discovery in Israel proves humans lived side-by-side with Neanderthals

Human skull discovery in Israel proves humans lived side-by-side with Neanderthals

Scientists unearthed the cranial fragments from Manot Cave in West Galilee
World War Z author Max Brooks honours WW1's Harlem Hellfighters in new graphic novel

Max Brooks honours Harlem Hellfighters

The author talks about race, legacy and his Will Smith film option to Tim Walker
Why the league system no longer measures up

League system no longer measures up

Jon Coles, former head of standards at the Department of Education, used to be in charge of school performance rankings. He explains how he would reform the system
Valentine's Day cards: 5 best online card shops

Don't leave it to the petrol station: The best online card shops for Valentine's Day

Can't find a card you like on the high street? Try one of these sites for individual, personalised options, whatever your taste
Diego Costa: Devil in blue who upsets defences is a reminder of what Liverpool have lost

Devil in blue Costa is a reminder of what Liverpool have lost

The Reds are desperately missing Luis Suarez, says Ian Herbert
Ashley Giles: 'I'll watch England – but not as a fan'

Ashley Giles: 'I'll watch England – but not as a fan'

Former one-day coach says he will ‘observe’ their World Cup games – but ‘won’t be jumping up and down’
Greece elections: In times like these, the EU has far more dangerous adversaries than Syriza

Greece elections

In times like these, the EU has far more dangerous adversaries than Syriza, says Patrick Cockburn
Holocaust Memorial Day: Nazi victims remembered as spectre of prejudice reappears

Holocaust Memorial Day

Nazi victims remembered as spectre of prejudice reappears over Europe
Fortitude and the Arctic attraction: Our fascination with the last great wilderness

Magnetic north

The Arctic has always exerted a pull, from Greek myth to new thriller Fortitude. Gerard Gilbert considers what's behind our fascination with the last great wilderness