News Japanese Prime Minister Shinzo Abe delivers his special address at the opening session of the World Economic Forum in Davos

Japan’s trade deficit has hit an all-time high as imports were swollen by higher energy prices and a weak yen.

When the Money Runs Out, By Stephen D King. Yale, £20. The Growth Map, By Jim O'Neill. Portfolio Penguin, £10.99

We call it globalisation and it is one of the two great economic stories of our time: that shift of economic power from the old developed world to the new emerging one. The other story is the nasty economic cycle we have just experienced. The two stories are linked because the failures of Western economic management that exacerbated the last recession have sped up the power shift.

Andrew Main Wilson, the new CEO of AMBA

Association of MBAs announces new chief executive

Andrew Main Wilson is to be the new chief executive of AMBA, it has been announced on the first day of the Association's conference in Poland.

Hope for UK economy as trade gap shrinks

The trade deficit narrowed slightly in March, adding to hopes that the economy could be beginning to strengthen.

Keynes might have had time for the George Osborne plan

The target of Niall Ferguson's attack has also been traduced by economic convervatives

Japan's trade deficit hits record levels

Japan's trade deficit hit a record high in the last financial year, the Ministry of Finance said.

Global growth continues for AMBA

The international authority on postgraduate business education, the Association of MBAs (AMBA), has reported a 17 per cent growth in membership numbers.

Fears grow for London port project

Big names slow to commit to the logistics park at heart of £1.5bn London Gateway superport

Jim Armitage: Bad old days of violence return to Guinea

US Outlook It's depressing to see trouble return to the mineral-rich African state of Guinea.

Cameron is adept at the art of apology, so why doesn't he give one to India?

Many Indians feel that Britain's outrages during the colonial era have never been fully admitted, never mind taken responsibility for

Margins rise more than 100% at Essar refinery

Margins at the UK's second-largest oil refinery shot up towards the end of last year, according to its owner Essar Energy. Essar's Stanlow plant in Ellesmere Port, Cheshire, saw gross refining margin increase to $5.59 a barrel in its third quarter. It was only $2.45 a barrel a year ago.

From horse to lasagne: Findus, supply chains, and why buying local is the answer in an ideal world only

Labyrinthine supply chains exist for a reason - to fill a demand for cheap meat

Turnaround plan makes it sunnier for Thomas Cook

Thomas Cook showed tentative signs of recovery today after several months in the doldrums.

Glaxo review could see it sell Ribena and Lucozade

GlaxoSmithKline could sell Lucozade and Ribena after Britain’s biggest pharmaceuticals firm today set out plans for a “strategic review” of the drinks brands.

Anthony Hilton: We're stifling banks but no one in charge will be seen being easy on them

The economy had experienced a heart attack, Business Secretary Vince Cable told an audience at an event on Wednesday organised by the think tank Politeia. Recuperation is slow, uncertain and takes a very long time, so you should not expect at this relatively early stage that we would be sprinting down the track like Jessica Ennis.

How 'The Sun' jumped the gun on Harry – and vindicated his view of newspapers

"We heard this posh voice come over the radio and knew it was Big H"

News
A cleaner prepares the red carpet for the opening night during the 59th International Cannes Film Festival May 17, 2006 in Cannes, France.
newsPowerful vacuum cleaners to be banned under EU regulations
Arts and Entertainment
Loaded weapon: drugs have surprise side effects for Scarlett Johansson in Luc Besson’s ‘Lucy’
filmReview: Lucy, Luc Besson's complex thriller
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Mosul dam was retaken with the help of the US
voicesRobert Fisk: Barack Obama is following the jihadists’ script
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A polar bear’s diet is rich in seal blubber and half of its own body weight is composed of fat
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Life and Style
fashion David Beckham fronts adverts for his underwear collection
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Flocking round: Beyoncé, Madame Tussauds' latest waxwork, looking fierce in the park
travelIn a digital age when we have more access than ever to the stars, why are waxworks still pulling in crowds?
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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
Air strikes? Talk of God? Obama is following the jihadists’ script

Air strikes? Talk of God? Obama is following the jihadists’ script

The President came the nearest he has come yet to rivalling George W Bush’s gormless reaction to 9/11 , says Robert Fisk
Ebola outbreak: Billy Graham’s son declares righteous war on the virus

Billy Graham’s son declares righteous war on Ebola

A Christian charity’s efforts to save missionaries trapped in Africa by the crisis have been justifiably praised. But doubts remain about its evangelical motives
Jeremy Clarkson 'does not see a problem' with his racist language on Top Gear, says BBC

Not even Jeremy Clarkson is bigger than the BBC, says TV boss

Corporation’s head of television confirms ‘Top Gear’ host was warned about racist language
Nick Clegg the movie: Channel 4 to air Coalition drama showing Lib Dem leader's rise

Nick Clegg the movie

Channel 4 to air Coalition drama showing Lib Dem leader's rise
Philip Larkin: Misogynist, racist, miserable? Or caring, playful man who lived for others?

Philip Larkin: What will survive of him?

Larkin's reputation has taken a knocking. But a new book by James Booth argues that the poet was affectionate, witty, entertaining and kind, as hitherto unseen letters, sketches and 'selfies' reveal
Madame Tussauds has shown off its Beyoncé waxwork in Regent's Park - but why is the tourist attraction still pulling in the crowds?

Waxing lyrical

Madame Tussauds has shown off its Beyoncé waxwork in Regent's Park - but why is the tourist attraction still pulling in the crowds?
Texas forensic astronomer finally pinpoints the exact birth of impressionism

Revealed (to the minute)

The precise time when impressionism was born
From slow-roasted to sugar-cured: how to make the most of the British tomato season

Make the most of British tomatoes

The British crop is at its tastiest and most abundant. Sudi Pigott shares her favourite recipes
10 best men's skincare products

Face it: 10 best men's skincare products

Oscar Quine cleanses, tones and moisturises to find skin-savers blokes will be proud to display on the bathroom shelf
Malky Mackay allegations: Malky Mackay, Iain Moody and another grim day for English football

Mackay, Moody and another grim day for English football

The latest shocking claims do nothing to dispel the image that some in the game on these shores exist in a time warp, laments Sam Wallace
La Liga analysis: Will Barcelona's hopes go out of the window?

Will Barcelona's hopes go out of the window?

Pete Jenson starts his preview of the Spanish season, which begins on Saturday, by explaining how Fifa’s transfer ban will affect the Catalans
Middle East crisis: We know all too much about the cruelty of Isis – but all too little about who they are

We know all too much about the cruelty of Isis – but all too little about who they are

Now Obama has seen the next US reporter to be threatened with beheading, will he blink, asks Robert Fisk
Neanderthals lived alongside humans for centuries, latest study shows

Final resting place of our Neanderthal neighbours revealed

Bones dated to 40,000 years ago show species may have died out in Belgium species co-existed
Scottish independence: The new Scots who hold fate of the UK in their hands

The new Scots who hold fate of the UK in their hands

Scotland’s immigrants are as passionate about the future of their adopted nation as anyone else
Britain's ugliest buildings: Which monstrosities should be nominated for the Dead Prize?

Blight club: Britain's ugliest buildings

Following the architect Cameron Sinclair's introduction of the Dead Prize, an award for ugly buildings, John Rentoul reflects on some of the biggest blots on the UK landscape