News

Outlook The Old Lady of Threadneedle Street likes drama to be reserved firmly for the stage. So yesterday's announcement from her Financial Policy Committee on "potential amplification channels" of financial risks was characteristically short on hyperbole.

Director's resignation pushes Redland break-up closer

A break-up of Redland, the building materials group defending itself against a pounds 1.7bn hostile bid from French rival Lafarge, came a step closer yesterday with the resignation of Helly Bruhn-Brass, a Redland non-executive director and key shareholder in RBB, Redland's German roof tiles business.

Biocompatibles shares dive as US deal falters

Shares in Biocompatibles yesterday went into free-fall, plunging by 36 per cent after the medical coatings company failed to agree a comprehensive licensing deal with US healthcare giant Johnson & Johnson.

Stocks shrug off meltdown worries

Stock markets on both sides of the Atlantic yesterday shrugged off the weekend's direst predictions of a sharp correction or worse following dramatic falls last Friday.

MARKET REPORT: Concern grows over long infatuation with financials

The market's love of the financial sector shows little sign of abating, and is beginning to cause concern that it will eventually turn out to be a dangerous affair. In what has become an almost morning ritual for market-makers, shares across the financial sector were marked up sharply in early dealings as Lloyds TSB produced results at the top end of City expectations.

Profits slip at Lehman Brothers

Confirming a downward blip last spring in Wall Street profits, Lehman Brothers revealed that its second quarter earnings this year slipped from first quarter levels. Lehman, which in recent weeks has been widely seen as a takeover target, said its net earnings for the quarter totalled $121m (pounds 73m), down from $144m in the first quarter. Even so, the second quarter earnings compared favourably with the same quarter last year, when they came in at $108m.

Dai-Ichi board resigns over loans scandal

A mass resignation of main board directors was announced yesterday by Dai-Ichi Kangyo, the third-largest bank in Japan and the fifth-biggest in the world, over the scandal involving pounds 63m of loans made to Ryuichi Koike, an alleged corporate racketeer.

Obituary: John Guest

Exploring cultures in remote places was John Guest's passion. Here he followed the example of his great-uncle the archaeologist Sir Henry Layard, who in the 1840s had discovered the Bulls of Nineveh.

Jim'll fix it

Chase Manhattan hired James Downing as head of European mergers and acquisitions. Downing was a man- aging director at Lehman Brothers in corporate finance. He will be based in London.

Chiroscience shares jump on trial results

Chiroscience, the biotechnology group, saw its shares jump 14.5p to 380.5p yesterday after announcing the latest in a series of successful phase III trial results for its levobupivacaine long-acting local anaesthetic.

Pace of economic growth 'truly worrying'

The pace of economic growth is significantly faster than official figures suggest, according to new City research due to be published this week. Correcting for the fact that the first estimates of national income during an economic upswing are subsequently revised up suggests the actual growth rate is "truly worrying".

Investors refuse to be deterred by the party-poopers

MARKET REPORT

City expects rate rise after the election

The Chancellor of the Exchequer will resist raising interest rates ahead of the general election, forcing a sharp post-election rate increase, the City has concluded, writes Diane Coyle.

City sees economy as election winner

The strength of the economy means the outcome of the general election could be much closer than opinion polls at present suggest, according to one of the City of London's leading investment banks.

Manufacturers see start of recovery

Manufacturing industry is on the road to recovery, with business confidence increasing for the first time in over a year. Yet manufacturers expect to hold prices steady as their costs fall.

Stormy quarter cuts General Accident's profits

The tough winter on both sides of the Atlantic tore a large hole in General Accident's first- quarter earnings, as the general insurer yesterday heralded a recovery in motor premiums.
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Refugee crisis: David Cameron lowered the flag for the dead king of Saudi Arabia - will he do the same honour for little Aylan Kurdi?

Cameron lowered the flag for the dead king of Saudi Arabia...

But will he do the same honour for little Aylan Kurdi, asks Robert Fisk
Our leaders lack courage in this refugee crisis. We are shamed by our European neighbours

Our leaders lack courage in this refugee crisis. We are shamed by our European neighbours

Humanity must be at the heart of politics, says Jeremy Corbyn
Joe Biden's 'tease tour': Could the US Vice-President be testing the water for a presidential run?

Joe Biden's 'tease tour'

Could the US Vice-President be testing the water for a presidential run?
Britain's 24-hour culture: With the 'leisured society' a distant dream we're working longer and less regular hours than ever

Britain's 24-hour culture

With the 'leisured society' a distant dream we're working longer and less regular hours than ever
Diplomacy board game: Treachery is the way to win - which makes it just like the real thing

The addictive nature of Diplomacy

Bullying, betrayal, aggression – it may be just a board game, but the family that plays Diplomacy may never look at each other in the same way again
Lady Chatterley's Lover: Racy underwear for fans of DH Lawrence's equally racy tome

Fashion: Ooh, Lady Chatterley!

Take inspiration from DH Lawrence's racy tome with equally racy underwear
8 best children's clocks

Tick-tock: 8 best children's clocks

Whether you’re teaching them to tell the time or putting the finishing touches to a nursery, there’s a ticker for that
Charlie Austin: Queens Park Rangers striker says ‘If the move is not right, I’m not going’

Charlie Austin: ‘If the move is not right, I’m not going’

After hitting 18 goals in the Premier League last season, the QPR striker was the great non-deal of transfer deadline day. But he says he'd preferred another shot at promotion
Isis profits from destruction of antiquities by selling relics to dealers - and then blowing up the buildings they come from to conceal the evidence of looting

How Isis profits from destruction of antiquities

Robert Fisk on the terrorist group's manipulation of the market to increase the price of artefacts
Labour leadership: Andy Burnham urges Jeremy Corbyn voters to think again in last-minute plea

'If we lose touch we’ll end up with two decades of the Tories'

In an exclusive interview, Andy Burnham urges Jeremy Corbyn voters to think again in last-minute plea
Tunisia fears its Arab Spring could be reversed as the new regime becomes as intolerant of dissent as its predecessor

The Arab Spring reversed

Tunisian protesters fear that a new law will whitewash corrupt businessmen and officials, but they are finding that the new regime is becoming as intolerant of dissent as its predecessor
King Arthur: Legendary figure was real and lived most of his life in Strathclyde, academic claims

Academic claims King Arthur was real - and reveals where he lived

Dr Andrew Breeze says the legendary figure did exist – but was a general, not a king
Who is Oliver Bonas and how has he captured middle-class hearts?

Who is Oliver Bonas?

It's the first high-street store to pay its staff the living wage, and it saw out the recession in style
Earth has 'lost more than half its trees' since humans first started cutting them down

Axe-wielding Man fells half the world’s trees – leaving us just 422 each

However, the number of trees may be eight times higher than previously thought
60 years of Scalextric: Model cars are now stuffed with as much tech as real ones

60 years of Scalextric

Model cars are now stuffed with as much tech as real ones