Money Neil Woodford is bemused by the speed with which economic commentators have moved from doom to euphoria

The biggest fund manager story of 2013 was the resignation of Neil Woodford from Invesco Perpetual. As you will be aware, Mr Woodford will continue to manage the Invesco Perpetual Income and High Income Funds until he leaves at the end of April, following which he will set up his own company.

Mirror halts shares fall with defence of finances

Trinity Mirror was forced to make a formal statement on its financial health yesterday after analyst concerns spooked the market and the media group's stock dropped by 18.6 per cent in a single day.

Treasury on back foot as deputy Governor quits

One of the City's most high-profile economists, Rachel Lomax, is quitting her role as deputy Governor of the Bank of England at the end of June.

Jeremy Warner's Outlook: Banks and their capital needs – first they pay it out, now they want it all back again

Now UBM wants to switch tax domicile; UK budget deficit faces EU strictures

A £50bn injection, but the patient won't be up and about soon

The Bank of England is trying to get lenders back to work by swapping gilts for 'toxic' assets. Simon Evans asks if it has left the cure too late

Minutes show MPC split over rate cut

A three-way split appeared in the Bank of England's Monetary Policy Committee (MPC) when it met two weeks ago, it has emerged, potentially reducing the likelihood of further rate cuts in the months ahead.

B&B says funding is secure despite rise in bad debt

A rise in bad debts, the departure of its operating director and further write-downs on investments were not enough to prevent Bradford & Bingley insisting yesterday it had been right to rule out fund-raisings such as a rights issue.

Leading article: Toxic debts and the need for more liquidity

Today's breakfast meeting between Gordon Brown and executives from the financial sector will not be the first such get-together since Mr Brown became Prime Minister; but it will certainly be the most sombre. The global credit crunch shows no signs of abating and the threat of recession seems to grow larger by the week.

Jeremy Warner's Outlook: It ill becomes bankers who complain of lack of liquidity to be paying bumper dividends

Dunstone: talking his book on broadband; Stagflation makes an unwelcome return

Bank of England fails to satisfy City hunger for funds

Britain's banks were left short-changed again yesterday after the Bank of England made only £13.6bn available for them to borrow – nearly three times less than they wanted.

King pledges more cash to help banks' liquidity

The Governor of the Bank of England yesterday pledged to continue supporting liquidity-starved banks, but stopped short of promising to buy worthless mortgage-backed securities.

Leading article: The urgency of the crisis demands radical action

Anyone who thinks that the United States is the land where the free market is allowed to let rip while Britain is the home of regulation and state intervention should study the different reactions of central banks to the crisis in the money markets that has been with us since September.

Scramble for funds as Bank of England auctions £10bn

Bank shares rebound on hopes worst of crisis is over; Lehman and Goldman figures reassure

Fed injects $140bn in attempt to calm credit turmoil

The US Federal Reserve moved to inject liquidity into the financial system yesterday as market turmoil increased and dire US employment numbers shook investor confidence.

Jeremy Warner's Outlook: Fed takes more action over credit crisis

Now into its third phase, that dastardly credit crisis simply refuses to go away. When the crisis first hit last August, I somewhat complacently dismissed it as just another temporary squall which would likely have an eventual cathartic effect by blowing off the excesses of the boom before they got completely out of hand.

Hamish McRae: Don't worry: when the regulators are fretting, things are returning to normal

When the monetary and banking regulators are worried we should really be scared, right? Er, no, wrong. The time for the rest of us to be concerned was when the regulators were too relaxed, as they were a year or more ago. Now that they running around saying that things are terrible I think we can start to relax a bit. That does not mean the banking crisis is past, for we still have a way to go. It is just the gradual correction process is taking place and that once that passes normal service will be resumed.

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