News US President Barack Obama pauses while making a statement about the death of former South African President Nelson Mandela in the briefing room of the White House

US politicians are closing in on a deal to ease the impact of spending cuts worth up to $200 billion (£122 billion) which are due to hit home next year, it emerged today.

Manufacturing production falls

Manufacturers suffered a blow today as official figures showed a return to falls for the sector.

Credit Crisis Diary: 16/05/2009

One return for us, another for the clients

The US hedge fund star James Simons, rarely puts a foot wrong, but he was certainly wrongfooted by some cross investors who used a conference call with the great man to ambush him.

Market Report: Lloyds retreats as investors bank gains

Lloyds Banking Group led UK-focused banks lower last night, falling behind as the FTSE 100 briefly turned positive for the year.

Germany bids to nationalise struggling Hypo Real Estate

Germany's government wants to buy Hypo Real Estate, the crisis-stricken lender, in what would be the country's first bank nationalisation since the 1930s. Soffin, the vehicle set up by the government to rescue banks, yesterday tabled a bid for Hypo, offering €1.39 a share for the bank, a 16 per cent premium to its value at the close of trading on Wednesday.

Market report: Capital fears weigh on L&G ahead of results

Legal & General was under pressure last night, with nervous investors banking profits ahead of the company's full-year figures, which are due this morning.

Renault welcome F1 cost cuts

Formula One's cost-cutting measures should secure Renault's future in the sport despite the departure of title sponsor ING, team boss Flavio Briatore said today.

Kaupthing Edge bank customers offered savings deal

Around 160,000 customers of failed Icelandic bank Kaupthing Edge have been offered a new savings deal by ING Direct.

Derek Pain: AIM low – but Alexander David spots a target

No Pain, No Gain

ING and Hypo Real Estate rack up eu3.6bn losses in third quarter

The latest round of banking pain continued its tour around Europe yesterday, with Dutch giant ING and Germany's Hypo Real Estate announcing a combined €3.6bn in third-quarter losses. Hypo said it will seek additional rescue funds after a bigger-than-expected third-quarter loss of Eu3.1bn.

ING taps Dutch state for €10bn of capital

ING, The Dutch financial services giant, last night became the latest large European bank to turn to its government for an injection of capital. The bank, the biggest in the Netherlands, announced it would sell an 8.5 per cent stake to the Dutch government for €10bn (£7.8bn), as it attempts to improve its capital funding.

Money markets ease again but recovery remains muted

Tensions in the money markets eased again yesterday, suggesting that the co-ordinated global attempts to tackle the credit crisis may finally be having some success though, as with world stock markets, the improvement was marginal.

Icelandic bank customers to receive payout

The Financial Services Compensation Scheme (FSCS) today confirmed it would be paying out to 180,000 customers of two Icelandic banks.

UK councils at risk in Icelandic bank failures

Dozens of local authorities are facing the prospect of losing hundreds of millions of pounds after it was revealed that many had sizeable deposits with the failed Icelandic banks Landsbanki and Kaupthing.

Big loss for Tchenguiz as Iceland crisis forces Sainsbury's share sale

Move follows sale of Iranian tycoon's shares in pub group Mitchells & Butlers

The Week Ahead: Thomas Cook and TUI travel with confidence

The FTSE 100-listed travel groups Thomas Cook and TUI Travel are due to update the market on Wednesday and Thursday respectively, and, despite concern about the state of consumer spending, analysts anticipate upbeat statements from both.

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There will be a chance to bid for a rare example of the SAS Diary, collated by a former member of the regiment in the aftermath of World War II but only published – in a limited run of just 5,000 – in 2011
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File: James Woods attends the 52nd New York Film Festival at Walter Reade Theater on September 27, 2014
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Billie Whitelaw was best known for her close collaboration with playwright Samuel Beckett, here performing in a Beckett Trilogy at The Riverside Studios, Hammersmith
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Darrell Banks’s ‘Open The Door To Your Heart’
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Detective Tam Bui works for the Toronto Police force
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X Factor winner Ben Haenow has scored his first Christmas number one
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Elton John and David Furnish exchange marriage vows
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Independent Travel
Burgundy, the River Rhone & Provence – Five-star MS Swiss Corona 7 nights from £999pp
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Vietnam
Lake Maggiore, Orta & the Matterhorn 7 nights from £939pp
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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
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Homeless Veterans appeal: Christmas charity auction

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

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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

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Anne-Marie Huby: 'Charities deserve the best'

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The man who hunts giants

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A Christmas ghost story by Alison Moore

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