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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Independent Travel
Lake Garda, Venice & Verona from £629pp
Dubrovnik
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South Africa
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Prices correct as of 12 December 2014
Homeless Veterans appeal: 'You look for someone who's an inspiration and try to be like them'

Homeless Veterans appeal

In 2010, Sgt Gary Jamieson stepped on an IED in Afghanistan and lost his legs and an arm. He reveals what, and who, helped him to make a remarkable recovery
Could cannabis oil reverse the effects of cancer?

Could cannabis oil reverse effects of cancer?

As a film following six patients receiving the controversial treatment is released, Kate Hilpern uncovers a very slippery issue
The Interview movie review: You can't see Seth Rogen and James Franco's Kim Jong Un assassination film, but you can read about it here

The Interview movie review

You can't see Seth Rogen and James Franco's Kim Jong Un assassination film, but you can read about it here
Serial mania has propelled podcasts into the cultural mainstream

How podcasts became mainstream

People have consumed gripping armchair investigation Serial with a relish typically reserved for box-set binges
Jesus Christ has become an unlikely pin-up for hipster marketing companies

Jesus Christ has become an unlikely pin-up

Kevin Lee Light, aka "Jesus", is the newest client of creative agency Mother while rival agency Anomaly has launched Sexy Jesus, depicting the Messiah in a series of Athena-style poses
Rosetta space mission voted most important scientific breakthrough of 2014

A memorable year for science – if not for mice

The most important scientific breakthroughs of 2014
Christmas cocktails to make you merry: From eggnog to Brown Betty and Rum Bumpo

Christmas cocktails to make you merry

Mulled wine is an essential seasonal treat. But now drinkers are rediscovering other traditional festive tipples. Angela Clutton raises a glass to Christmas cocktails
5 best activity trackers

Fitness technology: 5 best activity trackers

Up the ante in your regimen and change the habits of a lifetime with this wearable tech
Paul Scholes column: It's a little-known fact, but I have played one of the seven dwarves

Paul Scholes column

It's a little-known fact, but I have played one of the seven dwarves
Fifa's travelling circus once again steals limelight from real stars

Fifa's travelling circus once again steals limelight from real stars

Club World Cup kicked into the long grass by the continued farce surrounding Blatter, Garcia, Russia and Qatar
Frank Warren column: 2014 – boxing is back and winning new fans

Frank Warren: Boxing is back and winning new fans

2014 proves it's now one of sport's biggest hitters again
Jeb Bush vs Hillary Clinton: The power dynamics of the two first families

Jeb Bush vs Hillary Clinton

Karen Tumulty explores the power dynamics of the two first families
Stockholm is rivalling Silicon Valley with a hotbed of technology start-ups

Stockholm is rivalling Silicon Valley

The Swedish capital is home to two of the most popular video games in the world, as well as thousands of technology start-ups worth hundreds of millions of pounds – and it's all happened since 2009
Did Japanese workers really get their symbols mixed up and display Santa on a crucifix?

Crucified Santa: Urban myth refuses to die

The story goes that Japanese store workers created a life-size effigy of a smiling "Father Kurisumasu" attached to a facsimile of Our Lord's final instrument of torture
Jennifer Saunders and Kate Moss join David Walliams on set for TV adaptation of The Boy in the Dress

The Boy in the Dress: On set with the stars

Walliams' story about a boy who goes to school in a dress will be shown this Christmas