News

It was once only a brave investor who’d bet against fashion favourite Asos, but yesterday two City experts called time on the stock.

Mark Carney is relocating form Canad

£250,000-a-year accommodation allowance for new Bank of England Governor Mark Carney

Fresh details of the lucrative financial package required to lure the Bank of England’s first foreign Governor across the Atlantic show that Mark Carney, a Canadian, has landed a housing allowance worth £1.25m over his five-year term.

Market Report: Pace still a runner in race for Motorola

Can a Yorkshire firm keep up with the pace in the bidding war for Google's Motorola set-top box business? The official deadline was last night, and Saltaire-based Pace was said to be up against Georgia-based Arris, France's Technicolor and private equity bidders.

Editorial: Threadneedle Street's new broom

Only four months ago Mark Carney was issuing the flattest of denials that he was interested in becoming Governor of the Bank of England. That he has now accepted the job may mean he had his arm twisted by the Chancellor, George Osborne, which would make his appointment highly political. But this did not prevent the announcement receiving a broad welcome yesterday – including from the shadow Chancellor, Ed Balls.

Anthony Hilton: Banks can keep loans up if they change culture

Every time someone in government suggests the banks would be safer if they held more capital against their loans, the banks say they could only increase their capital by cutting back on their lending. It is one of the ways they routinely scare the government.

Russian giant Megafon tries again with London flotation

Megafon, the Russian telecoms giant controlled by Arsenal's second-biggest shareholder, Alisher Usmanov, confirmed plans yesterday for a London stock market float that could value the business at $14bn (£9bn).

Banks are being run like rigged casinos, says Greg Smith

Banks are worse than casinos, claims Greg Smith, the former Goldman Sachs executive who hit the headlines last year when he said the investment bank treated its clients like Muppets.

Former trader says banks are like gamblers in rigged casinos

Banks are worse than casinos, claims Greg Smith, the former Goldman Sachs executive who hit the headlines last year when he said the investment bank treated its clients like Muppets.

Lawyers for insider trader in unusual bid for leniency

Lawyers for Rajat Gupta, the former McKinsey & Co chief and Goldman Sachs board member whose ascent to the pinnacle of corporate America was only matched by his precipitous fall after being convicted of leaking insider information earlier this year, have made an unusual plea for leniency as he prepares to hear his sentence from a Manhattan judge.

Bonds bolster Citigroup as writedown hits profits

A mammoth, $4.7bn (£2.9bn) writedown drove Citigroup's third-quarter profits down by nearly 90 per cent – but America's third-largest bank still managed to beat Wall Street expectations yesterday thanks to strength in its bond trading business.

Business week in review

In profit...

Simon English: For Shacklock, it's more bad news

Outlook The collapse of the BAE deal is bad news for lots of people, one of whom must be Tim Shacklock.

Tucker odds-on to be named governor after rivals drop out

The Bank of England's deputy governor, Paul Tucker, was installed as odds-on favourite for its top job at the Bank of England yesterday as the applications deadline for Britain's most powerful unelected role passed.

Race for top job at the Bank narrows as three drop out

The deputy governor Paul Tucker was installed as odds-on favourite for the top job at the Bank of England yesterday as the applications deadline for Britain's most powerful unelected role passed.

Hamish McRae: Painful, yes. But we are slowly recovering

What happens next? There is always a sense of unease in August, a feeling that there are autumn storms just around the corner, but this year all has been pushed aside by the triumph of the Olympics. So will those concerns now return with a bang? Or do we just resume the long trudge of correcting the errors of the boom years and wishing we had less of a headwind as we did so?

Jim O’Neill: the world economy is a bit more balanced now

Hamish McRae: At last we're correcting the errors of the boom years

The big question now is whether there has been permanent damage

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Burgundy, the River Rhone & Provence – Five-star MS Swiss Corona 7 nights from £999pp
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Prices correct as of 19 December 2014
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