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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 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

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.

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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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
Isis in Iraq: Yazidi girls killing themselves to escape rape and imprisonment by militants

'Jilan killed herself in the bathroom. She cut her wrists and hanged herself'

Yazidi girls killing themselves to escape rape and imprisonment
Ed Balls interview: 'If I think about the deficit when I'm playing the piano, it all goes wrong'

Ed Balls interview

'If I think about the deficit when I'm playing the piano, it all goes wrong'
He's behind you, dude!

US stars in UK panto

From David Hasselhoff to Jerry Hall
Grace Dent's Christmas Quiz: What are you – a festive curmudgeon or top of the tree?

Grace Dent's Christmas Quiz

What are you – a festive curmudgeon or top of the tree?
Nasa planning to build cloud cities in airships above Venus

Nasa planning to build cloud cities in airships above Venus

Planet’s surface is inhospitable to humans but 30 miles above it is almost perfect
Surrounded by high-rise flats is a little house filled with Lebanon’s history - clocks, rifles, frogmen’s uniforms and colonial helmets

Clocks, rifles, swords, frogmen’s uniforms

Surrounded by high-rise flats is a little house filled with Lebanon’s history
Return to Gaza: Four months on, the wounds left by Israel's bombardment have not yet healed

Four months after the bombardment, Gaza’s wounds are yet to heal

Kim Sengupta is reunited with a man whose plight mirrors the suffering of the Palestinian people
Gastric surgery: Is it really the answer to the UK's obesity epidemic?

Is gastric surgery really the answer to the UK's obesity epidemic?

Critics argue that it’s crazy to operate on healthy people just to stop them eating
Homeless Veterans appeal: Christmas charity auction Part 2 - now LIVE

Homeless Veterans appeal: Christmas charity auction

Bid on original art, or trips of a lifetime to Africa or the 'Corrie' set, and help Homeless Veterans
Pantomime rings the changes to welcome autistic theatre-goers

Autism-friendly theatre

Pantomime leads the pack in quest to welcome all
The week Hollywood got scared and had to grow up a bit

The week Hollywood got scared and had to grow up a bit

Sony suffered a chorus of disapproval after it withdrew 'The Interview', but it's not too late for it to take a stand, says Joan Smith
From Widow Twankey to Mother Goose, how do the men who play panto dames get themselves ready for the performance of a lifetime?

Panto dames: before and after

From Widow Twankey to Mother Goose, how do the men who play panto dames get themselves ready for the performance of a lifetime?
Thirties murder mystery novel is surprise runaway Christmas hit

Thirties murder mystery novel is surprise runaway Christmas hit

Booksellers say readers are turning away from dark modern thrillers and back to the golden age of crime writing
Anne-Marie Huby: 'Charities deserve the best,' says founder of JustGiving

Anne-Marie Huby: 'Charities deserve the best'

Ten million of us have used the JustGiving website to donate to good causes. Its co-founder says that being dynamic is as important as being kind
The botanist who hunts for giant trees at Kew Gardens

The man who hunts giants

A Kew Gardens botanist has found 25 new large tree species - and he's sure there are more out there