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.

ING Barings acts to retain stake in Dillon Read

In a bid to retain a valuable window on to Wall Street, ING Barings is scrambling to hold on to a 25 per cent stake that it holds in the investment bank Dillon Read and, if possible, to purchase the other 75 per cent.

Little sweetness or light in the secretive world of sugar

Is commodities giant ED&F Man doing backdoor deals with Cuba? Paul Farrelly investigates

ING Barings chairman set to leave London

Hessel Lindenbergh, the chairman of ING Barings who supervised the rescue of the British merchant bank by the Dutch financial giant ING two years ago, is returning to Amsterdam having steered the subsidiary to "acceptable" levels of profitability.

Time for Tesco to be on the receiving end

People & Business

GGT to pay pounds 96m for ad group

The long-awaited takeover by GGT Group of the BDDP advertising group in France was finally announced yesterday. The pounds 96m deal comes almost six months after dealings in GGT shares were suspended at 223p, and during which time sterling has appreciated 16 per cent against the franc.

Panel raps Barings on takeover rules

The executive of the Takeover Panel yesterday delivered a public rap over the knuckles to ING Barings after shares in Applied Distribution, a client of the merchant bank, soared prior to it revealing bid approaches last month.

M&G backs pounds 196m bid for Newman

FKI, the acquisitive engineering group, yesterday launched its first hostile takeover by delivering a potentially knock-out bid worth pounds 196m for Newman Tonks, Europe's largest architectural hardware company.

Heat turned up on Eurotherm: The Investment Column

Eurotherm chief executive Claes Hultman walks on hallowed ground, and that is not just a reference to his other job as chairman of Wembley. Such is his veneration in the City that shareholders forced the controls and instrumentations company to take him back earlier this year after he stormed out following an acrimonious and very public tiff with the then chairman.

Ex-Barings executive loses claim for pounds 500,000 bonus

Mary Walz, the former Barings executive, has lost her claim for a pounds 500,000 performance bonus that was awarded just hours before the bank's collapse last year but was never paid.

Bacon & Woodrow may limit liability

Bacon & Woodrow, the actuarial firm, is joining the large number of accountancy and other professional organisations which are looking at whether to drop their unlimited partnership status.

Industry's big cheeses look to make an after-dinner mint

People & Business

Minimum wage, maximum delusion

The idea that it would always cost jobs must be ditched. Employment could actually rise, says Yvette Cooper

Olivetti takes flak for selling phone shares to cut debt

One of Olivetti's largest shareholders, ING Barings Asset Management, has slated the company's decision to sell an 8 per cent stake in Omnitel, its mobile phones subsidiary, to raise money to reduce crippling debts.

Banks seek pay curbs to stop traders from taking risks

Leading bankers are preparing the groundwork for a common standard for pay awards in the City, as a way of preventing traders from taking too many risks as they chase substantial annual bonuses.

Sacked Barings head 'was promised bonus of pounds 500,000'

A former Barings executive yesterday revealed how a director told her not to spend her promised pounds 500,000 bonus all at once, only hours before rogue trader Nick Leeson brought the merchant bank to its knees.
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