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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.

Nomura on slide in ratings

Fears are growing that Nomura, the Japanese investment bank that bought large chunks of the failed Lehman Brothers bank last year, could face a downgrade in its credit rating in the coming weeks as the group continues to integrate large parts of the American firm into its business.

Chaotic end to Lehmans 'cost $75bn in value'

Bankruptcy of bank could have been better managed

Recession - the domino effect: Share YOUR story

It began with the banks. Then house prices began to tumble. In the months that followed, the shock waves spread, engulfing first high streets, then factories – and thousands of jobs. In this gripping account, Paul Vallely travels across Britain to meet the people whose lives – and livelihoods – have fallen victim to the domino effect that left a nation broken

John Rentoul: A defining moment for... humble pie

Honesty proved an effective form of spin at Glenrothes and the momentum is with Labour

Mark Morris's Romeo &amp; Juliet, Barbican Theatre, London <br>Impressing the Czar, Sadler's Wells, London</br>

Adding a happy ending to Shakespeare's great love story is rather sweet. The tragedy is that the result is dull

Jeremy Warner: Shipping has become the new banking

One of the more worrying signs of global recession to have manifested itself over the past few months is the veritable collapse in the price of chartering a ship. Since Lehman Brothers was allowed to go under in September, the Baltic Dry Index, which tracks the cost of shipping dry cargo, has fallen by nearly 80 per cent, having already halved in the month before that. Shipping brokers say that it is now possible to charter a ship for less than its operating costs.

Unexpected rise in sales of new homes in US

Sales of newly built homes in the US increased last month, an unexpected bright spot for investors searching for a bottom to the troubled housing market. In September, the number of purchases was running at an annualised rate of 464,000 – up 12,000 from the previous month and better than the 450,000 expected by Wall Street analysts.

Mecom debt burden sends shares diving to 3.7p

Fears for the future of David Montgomery's media group Mecom have intensified, as the shares once again plunged despite the company rushing out a results statement in an attempt to calm investors.

Yasmin Alibhai-Brown: We may share a language, but that's it ...

The UK is mesmerised by the American presidential election. The result will affect all our futures. But is it too much already? Vast resources go into the coverage, leading to a fabricated, even forced, identification with the hyper-power; a euphoric mood is daily whipped up by fervently Atlanticist pundits. Question the United States and you are slammed for "anti-Americanism". There are no equivalent sneers for those who, for example, criticise Russia or India. It is as if this country is an extension of the US. It is defiantly, patently not. In fact, the more this drama unfolds, the more intensely aware we become of how different we are. The ocean between us is physical and cultural.

<a href="http://blogs.independent.co.uk/openhouse/2008/10/i-was-wrong-bla.html">Hamish McRae: I was wrong. Blame Lehman Brothers</a>

Yes, but what about the real economy? If I have been too optimistic about the effectiveness of the world's monetary authorities in restoring faith in the banking system, might I also have been too optimistic about the now-incipient economic downturn?

Ask Martha: Is it rude to ask people what they do for a living?

Got a social dilemma? Martha Arthur has the answer...

Credit crisis diary: Spurned: the naked hedge fund manager

Now this is what we call naked shorting. A New York judge has dismissed a lawsuit in which a woman complained that a hip-hop magazine published without her consent a photo of her in a topless mermaid costume at a party thrown by the rap mogul Sean "P Diddy" Combs. The photo of three bare-breasted women, taken at the annual White Party in East Hampton in 2003, was captioned "Mermaids Gone Wild" and published in Vibe magazine alongside an article about Combs, below. One of the women was a hedge-fund manager, Maria Kristina Dominguez, who sued Vibe and Combs for $3m (£1.6m). However, the judge said the picture was related to newsworthy issues of public interest and concluded that Ms Dominguez had no right to privacy while she was cavorting topless. A lawyer for Ms Dominguez said she was "exploring her options". Sounds like she's hedging her bets.

The Week In Radio: Now they're really taking a liberty

There was a point, some time in mid-morning on Big Bang Day (Radio 4, Wednesday), when I started to feel that about the only thing that could justify this much coverage would be if the Large Hadron Collider really did generate a black hole that swallowed the Earth and snuffed out human existence for all eternity. Under those circumstances, they could even put up a good case for postponing The Archers.

The morning after the night before for a Lehman reject

Edouard d'Archimbaud spent Monday night drowning his sorrows. Now he has to find a new job. Mark Hughes reports

Barclays in talks with Lehman Brothers

Barclays today is in talks over buying up some parts of the collapsed Lehman Brothers empire.

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Numbers of complaints about unwanted calls have trebled in just six months
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Picture of innocence: Ricky Gervais and Karl Pilkington in ‘Derek’
tvReview: The insights of Ricky Gervais's sweet and kind character call to mind Karl Pilkington's faux-naïf podcast observations
Arts & Entertainment
Tangled up in blue: Singer-songwriter Judith Owen
musicAnd how husband Harry Shearer - of Spinal Tap and The Simpsons fame - helped her music flourish
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Paul Weller: 'I am a big supporter of independent record stores but the greedy touts making a fast buck off genuine fans is disgusting'
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William Shakespeare's influence on English culture is still strongly felt today, from his plays on stage to words we use everyday
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Karim Benzema celebrates scoring the opening goal
sportReal Madrid 1 Bayern Munich 0: Germans will need their legendary self-belief to rescue Champions League tie in second leg
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Manchester United manager David Moyes has claimed supporters understand the need to look at
sportScot thanks club staff and fans, but gives no specific mention of players
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Strange 'quack' noises could be undersea chatter of Minke whales
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Migrants in Britain a decade on: The Poles who brought prosperity

Migrants in Britain a decade on

The Poles who brought prosperity
Philippe Legrain: 'The eurozone crisis has tipped many into disillusionment, despair and extremism - we need a European Spring'

Philippe Legrain: 'We need a European Spring'

The eurozone crisis has tipped many into disillusionment, despair and extremism - this radically altered landscape calls for a new kind of politics, argues the economist
A History of the First World War in 100 moments: A moment of glory on the Western Front for the soldiers of the Raj

A History of the First World War in 100 moments

A moment of glory on the Western Front for the soldiers of the Raj
Judith Owen reveals how husband Harry Shearer - star of This Is Spinal Tap and The Simpsons - helped her music flourish

Judith Owen: 'How my husband helped my music flourish'

Her mother's suicide and father's cancer also informed the singer-songwriter's new album, says Pierre Perrone
The online lifeline: How a housing association's remarkable educational initiative gave hope to tenant battling long-term illness and depression

Online lifeline: Housing association's educational initiative

South Yorkshire Housing Association's free training courses gave hope to tenant battling long-term illness and depression
Face-recognition software: Is this the end of anonymity for all of us?

Face-recognition software: The end of anonymity?

The software is already used for military surveillance, by police to identify suspects - and on Facebook
Train Kick Selfie Guy is set to scoop up to $250,000 thanks to his viral video - so how can you cash in on your candid moments?

Viral videos: Cashing in on candid moments

Train Kick Selfie Guy Jared Frank could receive anything between $30,000 (£17,800) to $250,000 (£149,000) for his misfortune - and that's just his cut of advertising revenue from being viewed on YouTube
The world's fastest elevators - 20 metres per second - are coming soon to China

World's fastest elevators coming soon to China

Whatever next? Simon Usborne finds out from Britain's highest authority on the subject
Cityfathers tackles long-hours culture that causes men to miss out on seeing their children

Cityfathers tackles long-hours culture

The organisation is the brainchild of Louisa Symington-Mills, a chief operating officer who set up Citymothers in 2012 - a group that now boasts more than 3,000 members
Brits who migrate to Costa del Sol more unhappy than those who stay at home

It's not always fun in the sun: Moving abroad does not guarantee happiness

Brits who migrate to Costa del Sol more unhappy than those who stay at home
Migrants in Britain a decade on: They came, they worked, they stayed in Lincolnshire

Migrants in Britain a decade on

They came, they worked, they stayed in Lincolnshire
Chris Addison on swapping politics for pillow talk

Chris Addison on swapping politics for pillow talk

The 'Thick of It' favourite thinks the romcom is an 'awful genre'. So why is he happy with a starring role in Sky Living's new Lake District-set series 'Trying Again'?
Why musicians play into their old age

Why musicians play into their old age

Nick Hasted looks at how they are driven by a burning desire to keep on entertaining fans despite risking ridicule
How can you tell a gentleman?

How can you tell a gentleman?

A list of public figures with gallant attributes by Country Life magazine throws a fascinating light on what it means to be a gentleman in the modern world
Pet a porter: posh pet pampering

Pet a porter: posh pet pampering

The duo behind Asos and Achica have launched a new venture offering haute couture to help make furry companions fashionable