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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.

Danone consortium in pounds 1.26bn bid to swallow United Biscuits

THE FRENCH contender in the race to buy United Biscuits last night mounted a surprise 11th-hour offer for the underperforming Jaffa Cake maker.

AIB stock tumbles as euro slices into margins

SHARES IN Allied Irish Banks fell sharply yesterday after the group disclosed that it suffered a one-off margin hit in the first half as a result of Ireland joining the euro this year.

My Biggest Mistake: Tim Ashley: Just trust your own instincts

Tim Ashley, 38, studied at Oxford and Cambridge before becoming a banker. He worked for Japanese and Danish banks, then joined Lehman Brothers. He left in 1995 to found Wickedweb, a web design company, and is now sales and marketing director at the AIM-listed NetBenefit.

ONdigital hits back at BSkyB with free offer

ONDIGITAL YESTERDAY fired back in its battle against Rupert Murdoch's BSkyB by announcing it will match its main rival's offer to give away digital TV equipment.

Nycomed sells 70% drugs stake

NYCOMED AMERSHAM, the world's leading maker of medical imaging products, yesterday agreed to sell a 70 per cent stake in its pharmaceuticals business to Nordic Capital, a Swedish private equity investor, for pounds 275m in order to focus on its main businesses.

Lehman Bros profits slump 60%

LEHMAN BROTHERS, the Wall Street investment house that has been the subject of repeated takeover speculation, saw profits slump 60 per cent to $74m in the fourth quarter of last year, compared with $185m in the last three months of 1997. The sharply lower figure, announced by chairman Richard Fuld (pictured) compares adversely with the $879m notched up in the period by US rival Morgan Stanley Dean Witter, 9 per cent ahead of the year before.

Fast Track: A-Z of Employers Lehman Brothers

Age: 148

Outlook: Don't trust this banking euphoria

WHETHER OR not the banking sector is already through its dark night of the soul - or, as seems more likely, only half way - the prospect of banking mergers and consolidation is already back at the top of the agenda, strongly lifting the mood in markets in the process.

US bidders for Energy clash over $2.8bn Texas share plan

A FRESH WAR of words broke out last night between the rival US bidders for Energy Group after one of them, Texas Utilities, was forced to disclose that it may issue shares worth up to $2.8bn to help finance its offer for the company.

Market Report: Next suits City with a smart recovery

Next, the retailer, ended a threadbare week with a smart, if modest, recovery. The shares rallied 41p to 753p as investment house Morgan Stanley, long time fans of the group, dismissed the bear stories which have swirled around the stock market and upgraded its recommendation to "strong buy".

Texas set to trump Pacificorp offer for Energy this week

TEXAS Utilities is expected to bid 800p a share this week for Energy Group, formerly Hanson's energy division, in a last- minute bid to trump the existing 765p a share offer from another US group, Pacificorp.

US finance houses ahead

Two leading US finance houses, Morgan Stanley Dean Witter and Lehman Brothers, have reported record fourth-quarter earnings, led by increasing profits from investment banking. Their shares declined, though, as US. stocks dropped and analysts questioned if earnings would decline in the months ahead.
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Prices correct as of 17 April 2015
General Election 2015: Chuka Umunna on the benefits of immigration, humility – and his leader Ed Miliband

Chuka Umunna: A virus of racism runs through Ukip

The shadow business secretary on the benefits of immigration, humility – and his leader Ed Miliband
Yemen crisis: This exotic war will soon become Europe's problem

Yemen's exotic war will soon affect Europe

Terrorism and boatloads of desperate migrants will be the outcome of the Saudi air campaign, says Patrick Cockburn
Marginal Streets project aims to document voters in the run-up to the General Election

Marginal Streets project documents voters

Independent photographers Joseph Fox and Orlando Gili are uploading two portraits of constituents to their website for each day of the campaign
Game of Thrones: Visit the real-life kingdom of Westeros to see where violent history ends and telly tourism begins

The real-life kingdom of Westeros

Is there something a little uncomfortable about Game of Thrones shooting in Northern Ireland?
How to survive a social-media mauling, by the tough women of Twitter

How to survive a Twitter mauling

Mary Beard, Caroline Criado-Perez, Louise Mensch, Bunny La Roche and Courtney Barrasford reveal how to trounce the trolls
Gallipoli centenary: At dawn, the young remember the young who perished in one of the First World War's bloodiest battles

At dawn, the young remember the young

A century ago, soldiers of the Empire – many no more than boys – spilt on to Gallipoli’s beaches. On this 100th Anzac Day, there are personal, poetic tributes to their sacrifice
Dissent is slowly building against the billions spent on presidential campaigns – even among politicians themselves

Follow the money as never before

Dissent is slowly building against the billions spent on presidential campaigns – even among politicians themselves, reports Rupert Cornwell
Samuel West interview: The actor and director on austerity, unionisation, and not mentioning his famous parents

Samuel West interview

The actor and director on austerity, unionisation, and not mentioning his famous parents
General Election 2015: Imagine if the leading political parties were fashion labels

Imagine if the leading political parties were fashion labels

Fashion editor, Alexander Fury, on what the leaders' appearances tell us about them
Phumzile Mlambo-Ngcuka: Home can be the unsafest place for women

Phumzile Mlambo-Ngcuka: Home can be the unsafest place for women

The architect of the HeForShe movement and head of UN Women on the world's failure to combat domestic violence
Public relations as 'art'? Surely not

Confessions of a former PR man

The 'art' of public relations is being celebrated by the V&A museum, triggering some happy memories for DJ Taylor
Bill Granger recipes: Our chef succumbs to his sugar cravings with super-luxurious sweet treats

Bill Granger's luxurious sweet treats

Our chef loves to stop for 30 minutes to catch up on the day's gossip, while nibbling on something sweet
London Marathon 2015: Paula Radcliffe and the mother of all goodbyes

The mother of all goodbyes

Paula Radcliffe's farewell to the London Marathon will be a family affair
Everton vs Manchester United: Steven Naismith demands 'better' if Toffees are to upset the odds against United

Steven Naismith: 'We know we must do better'

The Everton forward explains the reasons behind club's decline this season
Arsenal vs Chelsea: Praise to Arsene Wenger for having the courage of his convictions

Michael Calvin's Last Word

Praise to Wenger for having the courage of his convictions