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.

Standard & Poor's gets new chief executive after US downgrade

The head of the agency that stripped the US of its top-notch credit rating earlier this month is to step down in September.

Top trader to exit Barclays

Barclays Capital's star commodities trader,Todd Edgar, and several colleagues are set to leave the bank as it streamlines its investment banking operations.

FSA rejects ban on shorting as Europe's critics warn of dangers

The Financial Services Authority yesterday rejected the shock bans on short-selling financial stocks imposed by France and other European countries in a bid to quell market turmoil.

Hedge funds make wrong calls on market mayhem

Europe's bans on short selling cast hedge funds in their usual role as shadowy bogeymen, profiting from the misfortunes of others, but some of the world's biggest funds have taken a bath amid the wreckage, it has emerged.

Stephen Foley: Griffin's dreams have fallen short

US Outlook: When you make a fortune trading bonds from your Harvard University dorm room, and then build one of the world's most powerful hedge funds, you probably think there isn't anything you can't achieve.

Gods Without Men, By Hari Kunzru

Ever since The Impressionist appeared in 2003, with its picaresque hero for post-colonial times, it was clear that Hari Kunzru's fiction was fuelled by an energetic intelligence. Along with a love of big ideas came narrative zest, verbal and comic flair, and an acute eye for contemporary mores both East and West. Is identity a fixed essence or a mimic matter assembled from conventions, the first novel asked.

Varde set to secure Crest Nicholson

The takeover of the housebuilder Crest Nicholson is set to be completed by the end of this month, it emerged yesterday.

Lansdowne sells its entire shareholding in Goldman

Europe's biggest hedge fund has sold its $850m (£518m) shareholding in Goldman Sachs, the Wall Street bank, signalling its rising concerns about the health of the global banking sector.

Soros returns $1bn to investors as he ends his hedge fund career

George Soros, the legendary investor best known for breaking the Bank of England, signalled the end of an era yesterday, announcing that he would no longer invest money for other people and concentrate instead on managing his multi-billion dollar personal fortune.

Disappear, By Talitha Stevenson

Last year saw a rush of fiction inspired by the financial crisis, including novels by ex-city worker turned novelist Alex Preston and comic writer Paul Torday. Talitha Stevenson's new book, while pondering the dangers of "making money from money", also traces the break-up of a far from recession-proof marriage. As in many credit-crunch tales, the collapsing markets are seen as representative of a more deep-seated malaise.

Court case adds fuel to hedge-fund divorce

The messy divorce of hedge-fund tycoons Elena Ambrosiadou and Martin Coward has become even uglier following a series of alleged revelations in a legal case in Cyprus.

Stephen Foley: Another big name joins the tech bubble

US Outlook: On the subject of departures from Mr Obama's economics team, the president's former chief adviser and Harvard professor, Larry Summers, joined the advisers of Marc Andreessen's venture capital firm this week.

Jiau guilty of insider trading

Winifred Jiau, the first consultant for a so-called expert network firm to go to trial on insider trading charges, has been convicted in the US of securities fraud and conspiring with hedge funds to gain an illegal market advantage.

US investigator attacks Wall Street's risk culture

Preet Bharara, the US Attorney who successfully prosecuted Raj Rajaratnam and dozens of other insider traders, has lashed out at a corporate culture that encourages walking the line between legal and illegal activity.

Japan gives Man a shot in the arm

Man, the London-based hedge fund firm, reported better-than-expected profits and a strong rise in assets yesterday, with the business boosted by the launch of a new version of its flagship AHL fund in Japan.

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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
Woman who was sent to three Nazi death camps describes how she escaped the gas chamber

Auschwitz liberation 70th anniversary

Woman sent to three Nazi death camps describes surviving gas chamber
DSK, Dodo the Pimp, and the Carlton Hotel

The inside track on France's trial of the year

Dominique Strauss-Kahn, Dodo the Pimp, and the Carlton Hotel:
As provocative now as they ever were

Sarah Kane season

Why her plays are as provocative now as when they were written
Murder of Japanese hostage has grim echoes of a killing in Iraq 11 years ago

Murder of Japanese hostage has grim echoes of another killing

Japanese mood was against what was seen as irresponsible trips to a vicious war zone
Syria crisis: Celebrities call on David Cameron to take more refugees as one young mother tells of torture by Assad regime

Celebrities call on David Cameron to take more Syrian refugees

One young mother tells of torture by Assad regime
The enemy within: People who hear voices in their heads are being encouraged to talk back – with promising results

The enemy within

People who hear voices in their heads are being encouraged to talk back
'In Auschwitz you got used to anything'

'In Auschwitz you got used to anything'

Survivors of the Nazi concentration camp remember its horror, 70 years on
Autumn/winter menswear 2015: The uniforms that make up modern life come to the fore

Autumn/winter menswear 2015

The uniforms that make up modern life come to the fore
'I'm gay, and plan to fight military homophobia'

'I'm gay, and plan to fight military homophobia'

Army general planning to come out
Iraq invasion 2003: The bloody warnings six wise men gave to Tony Blair as he prepared to launch poorly planned campaign

What the six wise men told Tony Blair

Months before the invasion of Iraq in 2003, experts sought to warn the PM about his plans. Here, four of them recall that day
25 years of The Independent on Sunday: The stories, the writers and the changes over the last quarter of a century

25 years of The Independent on Sunday

The stories, the writers and the changes over the last quarter of a century
Homeless Veterans appeal: 'Really caring is a dangerous emotion in this kind of work'

Homeless Veterans appeal

As head of The Soldiers' Charity, Martin Rutledge has to temper compassion with realism. He tells Chris Green how his Army career prepared him
Wu-Tang Clan and The Sexual Objects offer fans a chance to own the only copies of their latest albums

Smash hit go under the hammer

It's nice to pick up a new record once in a while, but the purchasers of two latest releases can go a step further - by buying the only copy
Geeks who rocked the world: Documentary looks back at origins of the computer-games industry

The geeks who rocked the world

A new documentary looks back at origins of the computer-games industry
Belle & Sebastian interview: Stuart Murdoch reveals how the band is taking a new direction

Belle & Sebastian is taking a new direction

Twenty years ago, Belle & Sebastian was a fey indie band from Glasgow. It still is – except today, as prime mover Stuart Murdoch admits, it has a global cult following, from Hollywood to South Korea