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.

Sacked Barings manager claims bonuses

One of Nick Leeson's former bosses is taking ING Barings to an industrial tribunal next week claiming pounds 500,000 in unpaid bonuses after being sacked over the affair.

De Benedetti reasserts grip on Olivetti

Carlo De Benedetti last night reasserted his grip on the crisis-hit Olivetti computer and media group, as one of his key lieutenants replaced Francesco Caio as chief executive.

Regulators approve Olivetti's results

Olivetti, the troubled computer giant, last night said that Italian stock market regulators had approved its half-year results after suspending shares in the group following allegations by a former top executive that its losses had been understated.

London funds hit as Olivetti teeters

Computer crash: Shares in Italian giant suspended as former top executive claims extent of company's losses were disguised

HSBC makes pounds 400m banking move in US

HSBC, the banking giant, yesterday restated its commitment to US retail banking by announcing that its US subsidiary Marine Midland is to buy the First Federal Savings and Loan Association in New York state for ($620m) pounds 400m.

Barings win right to sue auditors in UK

ING Barings has won the right to sue former auditors of its Singapore operation in the UK courts for S$41bn (pounds 460m) each. Liquidators working for ING Barings are suing the Singapore arms of Coopers & Lybrand and Deloitte & Touche, which oversaw the Barings Futures arm that brought down the bank last year.

Abbey wins settlement over Barings venture

Abbey National is believed to have won about pounds 40m in an out- of- court settlement with the Dutch bank ING and the administrators of Barings, in a dispute over a joint derivatives company.

Barings boss offered new job

Andrew Tuckey, deputy chairman of Barings when it crashed last year, is being asked to head up the investment banking arm of Credit Lyonnais.

Barings faces mass defections in equities

ING Barings, the merchant bank rescued after its collapse at the hands of rogue trader Nick Leeson, is facing the prospect of mass defections from its specialist equities teams following the recent recruitment of more than 50 staff by its rival Deutsche Morgan Grenfell.

pounds 1.3bn water war set to erupt as bidders move on Southern

A bidding war looked set to break out last night as Southern Water confirmed it had received approaches from two potential buyers, including ScottishPower, and was considering its options.

Comrade Alex opts for the inglenook

BUNHILL

Rentokil senses victory

RENTOKIL is expected to lift its pounds 1.26bn hostile bid for business services group BET this week to clinch victory in its bitter, two-month- long takeover battle.

SFA to face MPs' quiz over Barings

The Securities and Futures Authority, the City regulator headed by Richard Farrant, is to be summoned to appear within weeks before a committee of MPs to explain its decision to discipline a former Barings executive described as a "whistleblower".

Philips shares plunge after profits warning

Shares in Philips, the Dutch electronics giant, plunged 11 per cent yesterday after its president, Jan Timmer, gave an unexpected profits warning at the company's annual meeting.

SFA hands Barings pair virtual blackballing

NIC CICUTTI
Career Services

Day In a Page

Independent Travel
Bruges
Lake Como
Burgundy
South AFrica
Paris
Northern Corsica
Prices correct as of 21 November 2014
Mau Mau uprising: Kenyans still waiting for justice join class action over Britain's role in the emergency

Kenyans still waiting for justice over Mau Mau uprising

Thousands join class action over Britain's role in the emergency
Isis in Iraq: The trauma of the last six months has overwhelmed the remaining Christians in the country

The last Christians in Iraq

After 2,000 years, a community will try anything – including pretending to convert to Islam – to avoid losing everything, says Patrick Cockburn
Black Friday: Helpful discounts for Christmas shoppers, or cynical marketing by desperate retailers?

Helpful discounts for Christmas shoppers, or cynical marketing by desperate retailers?

Britain braced for Black Friday
Bill Cosby's persona goes from America's dad to date-rape drugs

From America's dad to date-rape drugs

Stories of Bill Cosby's alleged sexual assaults may have circulated widely in Hollywood, but they came as a shock to fans, says Rupert Cornwell
Clare Balding: 'Women's sport is kicking off at last'

Clare Balding: 'Women's sport is kicking off at last'

As fans flock to see England women's Wembley debut against Germany, the TV presenter on an exciting 'sea change'
Oh come, all ye multi-faithful: The Christmas jumper is in fashion, but should you wear your religion on your sleeve?

Oh come, all ye multi-faithful

The Christmas jumper is in fashion, but should you wear your religion on your sleeve?
Dr Charles Heatley: The GP off to do battle in the war against Ebola

The GP off to do battle in the war against Ebola

Dr Charles Heatley on joining the NHS volunteers' team bound for Sierra Leone
Flogging vlogging: First video bloggers conquered YouTube. Now they want us to buy their books

Flogging vlogging

First video bloggers conquered YouTube. Now they want us to buy their books
Saturday Night Live vs The Daily Show: US channels wage comedy star wars

Saturday Night Live vs The Daily Show

US channels wage comedy star wars
When is a wine made in Piedmont not a Piemonte wine? When EU rules make Italian vineyards invisible

When is a wine made in Piedmont not a Piemonte wine?

When EU rules make Italian vineyards invisible
Look what's mushrooming now! Meat-free recipes and food scandals help one growing sector

Look what's mushrooming now!

Meat-free recipes and food scandals help one growing sector
Neil Findlay is more a pink shrimp than a red firebrand

More a pink shrimp than a red firebrand

The vilification of the potential Scottish Labour leader Neil Findlay shows how one-note politics is today, says DJ Taylor
Bill Granger recipes: Tenderstem broccoli omelette; Fried eggs with Mexican-style tomato and chilli sauce; Pan-fried cavolo nero with soft-boiled egg

Oeuf quake

Bill Granger's cracking egg recipes
Terry Venables: Wayne Rooney is roaring again and the world knows that England are back

Terry Venables column

Wayne Rooney is roaring again and the world knows that England are back
Michael Calvin: Abject leadership is allowing football’s age-old sores to fester

Abject leadership is allowing football’s age-old sores to fester

Those at the top are allowing the same issues to go unchallenged, says Michael Calvin