News

The Co-operative Bank's disgraced former chairman, Paul Flowers, apparently won the job because he beat his rivals' psychometric test scores, MPs on the Treasury Committee have been told.

Top London player cashes in after £52m deal with Man

The leading London hedge fund player Blaine Tomlinson was considerably better off yesterday after the firm he founded 21 years ago was bought by Man Group for up to $82.8m (£52.3m).

DR MARTIN COWARD: Founded the Ikos hedge fund with his Greek-born wife Elena Ambrosiadou

'Amicable divorce'? Tycoon couple Dr Martin Coward and Elena Ambrosiadou show Greeks how millionaires do it...

While thousands of impoverished people in the crisis-hit countries of Europe have been marching in opposition to more spending cutbacks and austerity measures, rather different scenes will soon be played out in an Athens courtroom.

Cameron's father 'used tax havens to build family fortune'

David Cameron's late father ran a network of offshore investment funds to help build up the family's fortune, it was claimed last night. Ian Cameron, a stockbroker, set up funds in tax havens such as Panama City and Geneva, and boasted of their ability to remain outside UK tax jurisdiction. There is no suggestion he acted illegally.

Leading article: Lords should not be lobbyists

The House of Lords has its defenders, despite being unelected and despite membership being for life. Its ranks include business leaders, scientists, medical professionals, civil servants, judges, military officers and others who might be put off running for elected office, but bring in a rich experience of life outside politics. They are not paid a salary, though they receive generous attendance allowances, so it is accepted that some will have paid outside employment.

The Cayman Islands is one of the few places in the world where there are more registered businesses than people

A land of beaches, Bentleys ... and bankers galore

Bentleys, yachts and award-winning seafood restaurants are all well known to the residents of the three islands that make up the Cayman archipelago. But mention the islands' tax status and they're likely to clam up.

Sergei Magnitsky: The Moscow lawyer died in detention after corrupt officials had him arrested

Revealed: Russian spy agency linked to dead lawyer

Russia's spy agency authorised a raid on a British investment firm in Moscow that led to a massive tax scam by allegedly corrupt officials and the death of a lawyer who tried to expose the fraud, new papers show. Sergei Magnitsky, a Moscow-based lawyer, died in November 2009 during pre-trial detention after he was arrested by a group of officials who were being investigated for tax fraud. No one has been imprisoned for his death.

Banking/Court win for Lehman Europe clients

Billions of dollars locked inside Lehman Brothers' European arm can be returned to clients in the US and around the world, following a ruling by the UK Supreme Court.

Rio Ferdinand (left) wants United to win the Europa League so he can avoid in playground stick

United cash balance drops £100m

Manchester United's cash reserves fell by £100m in six months, in part to finance an investment in the squad attempting to win the fight for domestic supremacy with Manchester City.

Dubai to take a £400m hit over bailout of Travelodge

Dubai is bracing itself for a hefty £400m loss as Travelodge, the debt-laden hotel group it bought near the top of the market, finalises a bailout that would obliterate its investment in the company.

Whitney Houston, here performing in Milan in 2010, will be known by future generations

DJ Taylor: Keep the red flag flying? Could do...

Union ties are as burdensome for Labour as the Tories' debt to wealthy donors. State funding beckons

Anthony Hilton: Put some fun into pensions and maybe more people will get one

You just have to mention the word pensions to see people's eyes glaze over.

Has Falcone flown too close to the sun?

The hedge fund trader made a fortune in US mortgages, but a broadband bet is going wrong

What the Sunday Papers said

The Independent on Sunday: BP poised to give a boost to the dividend

Einhorn fund fined £7.2m for Punch insider trading

David Einhorn, the brash American hedge fund manager famed for taking huge, aggressive bets against companies' share prices, has been slapped with a £7.2m fine for insider trading in the British pubs group Punch Taverns.

More arrests in US clampdown on insider trading

Four more hedge fund executives have been arrested in the US authorities' war against insider trading.

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Independent Travel
Burgundy, the River Rhone & Provence – Five-star MS Swiss Corona 7 nights from £999pp
Lake Como St Moritz & the Bernina Express 7 nights from £809pp
Vietnam
Lake Maggiore, Orta & the Matterhorn 7 nights from £939pp
South Africa
Spain
Prices correct as of 19 December 2014
Isis in Iraq: Yazidi girls killing themselves to escape rape and imprisonment by militants

'Jilan killed herself in the bathroom. She cut her wrists and hanged herself'

Yazidi girls killing themselves to escape rape and imprisonment
Ed Balls interview: 'If I think about the deficit when I'm playing the piano, it all goes wrong'

Ed Balls interview

'If I think about the deficit when I'm playing the piano, it all goes wrong'
He's behind you, dude!

US stars in UK panto

From David Hasselhoff to Jerry Hall
Grace Dent's Christmas Quiz: What are you – a festive curmudgeon or top of the tree?

Grace Dent's Christmas Quiz

What are you – a festive curmudgeon or top of the tree?
Nasa planning to build cloud cities in airships above Venus

Nasa planning to build cloud cities in airships above Venus

Planet’s surface is inhospitable to humans but 30 miles above it is almost perfect
Surrounded by high-rise flats is a little house filled with Lebanon’s history - clocks, rifles, frogmen’s uniforms and colonial helmets

Clocks, rifles, swords, frogmen’s uniforms

Surrounded by high-rise flats is a little house filled with Lebanon’s history
Return to Gaza: Four months on, the wounds left by Israel's bombardment have not yet healed

Four months after the bombardment, Gaza’s wounds are yet to heal

Kim Sengupta is reunited with a man whose plight mirrors the suffering of the Palestinian people
Gastric surgery: Is it really the answer to the UK's obesity epidemic?

Is gastric surgery really the answer to the UK's obesity epidemic?

Critics argue that it’s crazy to operate on healthy people just to stop them eating
Homeless Veterans appeal: Christmas charity auction Part 2 - now LIVE

Homeless Veterans appeal: Christmas charity auction

Bid on original art, or trips of a lifetime to Africa or the 'Corrie' set, and help Homeless Veterans
Pantomime rings the changes to welcome autistic theatre-goers

Autism-friendly theatre

Pantomime leads the pack in quest to welcome all
The week Hollywood got scared and had to grow up a bit

The week Hollywood got scared and had to grow up a bit

Sony suffered a chorus of disapproval after it withdrew 'The Interview', but it's not too late for it to take a stand, says Joan Smith
From Widow Twankey to Mother Goose, how do the men who play panto dames get themselves ready for the performance of a lifetime?

Panto dames: before and after

From Widow Twankey to Mother Goose, how do the men who play panto dames get themselves ready for the performance of a lifetime?
Thirties murder mystery novel is surprise runaway Christmas hit

Thirties murder mystery novel is surprise runaway Christmas hit

Booksellers say readers are turning away from dark modern thrillers and back to the golden age of crime writing
Anne-Marie Huby: 'Charities deserve the best,' says founder of JustGiving

Anne-Marie Huby: 'Charities deserve the best'

Ten million of us have used the JustGiving website to donate to good causes. Its co-founder says that being dynamic is as important as being kind
The botanist who hunts for giant trees at Kew Gardens

The man who hunts giants

A Kew Gardens botanist has found 25 new large tree species - and he's sure there are more out there