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.

The value of learning in style

Roger Trapp on a company that understands the benefits of training people in the right environment

EMU exposes the great price divide

FORGET INFLATION convergence, and think price convergence. This is the mantra that the Chancellor will eventually have to learn from his friends in Euroland. EMU has swept away the monetary policy independence that was used to deliver the inflation convergence demanded by the Maastricht Treaty, and it lays bare the wide divergences that still exist between price levels across Europe.

School killer's 'death manifesto'

INVESTIGATORS INTO the Colorado high school shooting said yesterday police had received an e-mailed "death manifesto" apparently written by one of the dead gunmen, Eric Harris, in which he blamed parents and teachers for driving him to mass murder and threatened further violence to come.

People & Business: Back together

ING BARINGS took another step in the rebuilding process following the traumas of last year's emerging markets meltdown, by poaching Alan Craft from ANZ Investment Bank to be its managing director and head of risk management.

Bid battle looms for French bank

Bid battle looms for French bank

People and Business: City of Amlo

ING BARINGS failed to agree on a location for its head office following the latest shake-up of its investment bank activities, so it invented a new city - Amlo.

Barings shake-up will cut bonuses

ING, the Dutch banking and insurance giant, is transferring control of ING Barings, its investment banking arm, from London to Amsterdam as part of a sweeping internal reorganisation sparked by last autumn's huge emerging market losses, writes Andrew Garfield.

Ecuador abandons fixed exchange rate

DEALERS IN the currency markets yesterday claimed their second Latin American scalp of the year, when Ecuador followed the example of Brazil and abandoned defence of its fixed exchange rate.

Euro to bring inflation fall

THE SINGLE currency could cut euroland's inflation rate by a quarter of a point as greater transparency and competition force prices downwards, according to new research.

People and Business: Bennett set to hunt IT heads

ONE OF the four senior executives who left ING Barings last autumn has popped up at the information technology recruitment firm JM. Peter Bennett left the investment bank after three years as global chief operating officer. He had been brought in from UBS to rebuild Barings' back-office operations after the Nick Leeson disaster.

Switch to low-risk strategy for ING Barings

ING BARINGS, the City investment bank, is to switch its emphasis away from emerging markets and towards Western Europe in the wake of the huge losses as a result of August's Russian crisis, Godfried van der Lugt, the chief executive of the firm's Dutch parent ING, told staff yesterday.

Barings goes back to its roots

ING BARINGS, the investment bank, is set to unveil plans for a radical shift away from emerging markets and back towards developing the traditional Baring Brothers advisory business in the UK, US and Continental Europe.

More job losses at ING expected

JOB CUTS at ING Barings, the investment bank, may exceed the 1,200 announced earlier this month, ING's chief financial officer Cees Maas said yesterday.

Chairman of ING Barings resigns

THE CHAIRMAN of ING Barings, the investment bank, has resigned less than a fortnight after the firm warned it was slashing its profits forecast for the year and axing 1,200 staff worldwide.

Grolsch stalked by Bass

BASS, the UK drinks and leisure group, is eyeing up Grolsch as a possible bridgehead into the Continental beer market after the Dutch brewer rejected an approach from the Belgian beer giant, Interbrew.
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Pompeii, Capri & the Bay of Naples
Seven Cities of Italy
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Prague, Budapest and Vienna
Lake Garda
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