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.

Bank workers pick Singapore over London

Singapore will create the most financial services jobs during the next 12 months, banking and hedge-fund staff believe. Some 37 per cent chose Singapore ahead of just 22 per cent favouring London, in a survey by financial service recruiters Astbury Marsden.

Stephen Foley: Anti-mafia tactics were the key to exposing secret deals

Prosecutors turned to tactics developed for fighting mafia bosses and drug gangs in their latest effort to rein in insider dealing on Wall Street.

National Express nears Elliott truce

The transport operator National Express, which last week put on a show of strength with news of rising profits amid calls by its biggest shareholder for strategic changes, is close to striking a deal with the dissenting investor before its annual meeting tomorrow.

L&G to vote with National Express

National Express has moved a step closer to defeating the activist shareholder that is seeking to appoint a string of new directors to its board at its annual general meeting next week.

Back to the start for Rajaratnam jury

Jury deliberations in the insider trading trial of Raj Rajaratnam had to be started all over again after a juror was unable to continue because of a medical problem.

Investor says National Express needs merger

The hedge fund Elliott Advisors, a 17 per cent activist shareholder in National Express, has called for a boardroom shake-up at the transport group and for it to invest more heavily in its US business.

Rebel investor turns up the heat in National Express dispute

National Express's dissident shareholder group turned up the pressure on its chief executive, Dean Finch, yesterday by claiming the support of the Cosmens, the Spanish family that is a major shareholder in the transport giant.

National Express at odds with Elliott

National Express has squared up to its second-biggest shareholder in a dispute over demands for a boardroom shake-up at the transport giant.

The Last Werewolf, By Glen Duncan

This old dog has some very neat tricks

Margareta Pagano: Why winners should not be able to take all

Irene Rosenfeld, chairman and chief executive of Kraft, is being paid a $2.1m (£1.3m) cash award for her work last year. But that's only the icing on the cake: her total pay is a whopping $19.3m. According to Kraft, Rosenfeld is being paid the cash award part of the package even though she didn't meet all her financial incentive targets. This is mainly because she improved the "talent pipeline" by helping persuade certain Cadbury directors to stay on after the controversial bid.

National Express faces demand for shake-up

A major National Express shareholder is demanding a radical shake-up of the board to "provide a fresh perspective" and find growth opportunities. The US hedge fund giant Elliott Advisers owns 17 per cent of the transport company, and is putting forward three candidates for new non-executive director roles.

Icahn to return clients' money

Billionaire hedge fund manager Carl Icahn has said he plans to return all of his clients' money, becoming the latest in a string of investors who no longer want to manage money for outsiders.

Stephen Foley: The FSA must be given more weapons to root out insider-dealing networks

Outlook If Raj Rajaratnam had returned to the UK after business school in Pennsylvania and set up his hedge fund, Galleon, in the City of London instead of in the US, would the British authorities have been able to put him in the dock on charges of insider trading? The answer, sadly, is certainly not.

James Moore: Madoff is an unreliable witness – but a very convincing one

If contemplating his jail term and the suicide of his son have loosened his tongue, there may well be sleepless nights at some very grand institutions

John Rentoul: Politics, not economics, wins elections

George Osborne wrongfooted Ed Balls over bonuses, and such tactics will do more for him than number-crunching
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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
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Istanbul Ephesus & Troy – six nights from £859pp
Mary Rose – two nights from £319pp
Backhanders, bribery and abuses of power have soared in China as economy surges

Bribery and abuses of power soar in China

The bribery is fuelled by the surge in China's economy but the rules of corruption are subtle and unspoken, finds Evan Osnos, as he learns the dark arts from a master
Commonwealth Games 2014: Highland terriers stole the show at the opening ceremony

Highland terriers steal the show at opening ceremony

Gillian Orr explores why a dog loved by film stars and presidents is finally having its day
German art world rocked as artists use renowned fat sculpture to distil schnapps

Brewing the fat from artwork angers widow of sculptor

Part of Joseph Beuys' 1982 sculpture 'Fettecke' used to distil schnapps
BBC's The Secret History of Our Streets reveals a fascinating window into Britain's past

BBC takes viewers back down memory lane

The Secret History of Our Streets, which returns with three films looking at Scottish streets, is the inverse of Benefits Street - delivering warmth instead of cynicism
Joe, film review: Nicolas Cage delivers an astonishing performance in low budget drama

Nicolas Cage shines in low-budget drama Joe

Cage plays an ex-con in David Gordon Green's independent drama, which has been adapted from a novel by Larry Brown
How to make your own gourmet ice lollies, granitas, slushy cocktails and frozen yoghurt

Make your own ice lollies and frozen yoghurt

Think outside the cool box for this summer's tempting frozen treats
Ford Fiesta is UK's most popular car of all-time, with sales topping 4.1 million since 1976

Fiesta is UK's most popular car of all-time

Sales have topped 4.1 million since 1976. To celebrate this milestone, four Independent writers recall their Fiestas with pride
10 best reed diffusers

Heaven scent: 10 best reed diffusers

Keep your rooms smelling summery and fresh with one of these subtle but distinctive home fragrances that’ll last you months
Commonwealth Games 2014: Female boxers set to compete for first time

Female boxers set to compete at Commonwealth Games for first time

There’s no favourites and with no headguards anything could happen
Five things we’ve learned so far about Manchester United under Louis van Gaal

Five things we’ve learned so far about United under Van Gaal

It’s impossible to avoid the impression that the Dutch manager is playing to the gallery a little
Screwing your way to the top? Good for Lana Del Rey for helping kill that myth

Screwing your way to the top?

Good for Lana Del Rey for helping kill that myth, says Grace Dent
Will the young Britons fighting in Syria be allowed to return home and resume their lives?

Will Britons fighting in Syria be able to resume their lives?

Tony Blair's Terrorism Act 2006 has made it an offence to take part in military action abroad with a "political, ideological, religious or racial motive"
Beyoncé poses as Rosie the Riveter, the wartime poster girl who became a feminist pin-up

Beyoncé poses as Rosie the Riveter

The wartime poster girl became the ultimate American symbol of female empowerment
The quest to find the perfect pair of earphones: Are custom, 3D printed earbuds the solution?

The quest to find the perfect pair of earphones

Earphones don't fit properly, offer mediocre audio quality and can even be painful. So the quest to design the perfect pair is music to Seth Stevenson's ears
US Army's shooting star: Lt-Col Steven Cole is the man Hollywood calls when it wants to borrow a tank or check a military uniform

Meet the US Army's shooting star

Lt-Col Steven Cole is the man Hollywood calls when it wants to borrow a tank or check a military uniform