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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The Doctor and Clara have their first real heart to heart since he regenerated in 'Deep Breath'
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James Hewitt has firmly denied being Harry’s father
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The official police photograph of Dustin Diamond taken after he was arrested in Wisconsin
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Jeremy Clarkson, left, and Richard Hammond upset the locals in South America
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Ashley Barnes of Burnley scores their second goal
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Day In a Page

Independent Travel
Burgundy, the River Rhone & Provence – Five-star MS Swiss Corona 7 nights from £999pp
Lake Como St Moritz & the Bernina Express 7 nights from £809pp
Vietnam
Lake Maggiore, Orta & the Matterhorn 7 nights from £939pp
South Africa
Spain
Prices correct as of 19 December 2014
A timely reminder of the bloody anniversary we all forgot

A timely reminder of the bloody anniversary we all forgot

Who remembers that this week we enter the 150th anniversary year of the end of the American Civil War, asks Robert Fisk
Homeless Veterans appeal: Former soldiers pay their respects to a friend who also served

Homeless Veterans appeal

Former soldiers pay their respects to a friend who also served
Downfall of Dustin 'Screech' Diamond, the 'Saved By The Bell' star charged with bar stabbing

Scarred by the bell

The downfall of the TV star charged with bar stabbing
Why 2014 was a year of technological let-downs

Why 2014 was a year of technological let-downs

Security breaches and overhyped start-ups dominated a year in which very little changed (save the size of your phone)
Cuba's golf revolution: But will the revolutionary nation take 'bourgeois' game to its heart?

Will revolutionary Cuba take 'bourgeois' golf to its heart?

Fidel Castro ridiculed the game – but now investment in leisure resort projects is welcome
The Locked Room Mysteries: As a new collection of the genre’s best is published, its editor Otto Penzler explains the rules of engagement

The Locked Room Mysteries

As a new collection of the genre’s best is published, its editor explains the rules of engagement
Amy Adams on playing painter Margaret Keane in Tim Burton's Big Eyes

How I made myself Keane

Amy Adams hadn’t wanted to take the role of artist Margaret Keane, because she’d had enough of playing victims. But then she had a daughter, and saw the painter in a new light
Ed Richards: Parting view of Ofcom chief. . . we hate jokes on the disabled

Parting view of Ofcom chief... we hate jokes on the disabled

Bad language once got TV viewers irate, inciting calls to broadcasting switchboards. But now there is a worse offender, says retiring head of the media watchdog, Ed Richards
A look back at fashion in 2014: Wear in review

Wear in review

A look back at fashion in 2014
Ian Herbert: My 10 hopes for sport in 2015. Might just one of them happen?

Ian Herbert: My 10 hopes for sport in 2015

Might just one of them happen?
War with Isis: The West needs more than a White Knight

The West needs more than a White Knight

Despite billions spent on weapons, the US has not been able to counter Isis's gruesome tactics, says Patrick Cockburn
Return to Helmand: Private Davey Graham recalls the day he was shot by the Taliban

'The day I was shot by the Taliban'

Private Davey Graham was shot five times during an ambush in 2007 - it was the first, controversial photograph to show the dangers our soldiers faced in Helmand province
Revealed: the best and worst airlines for delays

Revealed: the best and worst airlines for delays

Many flyers are failing to claim compensation to which they are entitled, a new survey has found
The stories that defined 2014: From the Scottish independence referendum to the Ice Bucket Challenge, our writers voice their opinions

The stories that defined 2014

From the Scottish independence referendum to the Ice Bucket Challenge, our writers voice their opinions
Stoke-on-Trent becomes first British city to be classified as 'disaster resilient' by the United Nations

Disaster looming? Now you know where to head...

Which British city has become the first to be awarded special 'resilience' status by the UN?