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.

Leading article: Cold comfort from abroad

The public relations offensive to prepare the ground for the emergency Budget has begun. Yesterday, the Prime Minister, David Cameron, gave a speech in which he declared the paramount importance of reining in public spending. And today, the Chancellor, George Osborne, and the new Chief Secretary to the Treasury, Danny Alexander, will unveil the framework for this year's Comprehensive Spending Review and signal a determination to learn lessons from successful fiscal consolidations abroad.

Osborne urges G20 to take on banks over new capital rules

Chancellor warns EU states not to back down over tougher regulatory regime

LSE chief attacks short-selling ban as 'misguided' and 'counterproductive'

The chief executive of the London Stock Exchange has launched a stinging attack on the German government's unilateral decision to ban so-called "naked" short-selling in some financial stocks and bonds.

Bank confidence ebbs as Libor hits 10-month high

The rate at which banks lend to each other leapt to 10-month highs yesterday, marking their declining confidence as the fear of contagion sweeps Europe.

'Flash crash' saw Apple shares gain 40,000 per cent

Shares of the iPad maker Apple soared 40,000 per cent and traded at $100,000 apiece during the "flash crash" of 6 May, it was revealed yesterday. More details have emerged of the chaotic 20-minute trading period, when the US stock market fell 9 per cent before just as suddenly rebounding, including the fact that aberrant trades were by no means all in one direction.

India raises interest rates to cool economy

Central bank acts to reduce inflation of 10 per cent as economic growth surges in Asia's third-largest economy

Citigroup gets employee bonus plan through, as Pandit defies his critics

Chief executive Vikram Pandit said yesterday that Citigroup has proved its doubters wrong and is now "positioned for growth".

Roger Trapp: 'Zombies are all the rage in the movies and books this year. So it should not really be any surprise that they have entered the business language'

“Zombie banks” first emerged as a term in the late 1980s and came to be associated with the crisis that affected Japan in the 1990s, turning a once-thriving economy that was the envy of the world into a byword for stagnation. Now, Mark Thomas of the management consultants PA Consulting claims that the financial crisis that started in the autumn of 2008 has left behind a “zombie economy”. In his recently-published book of the same name, he states: “Even though many countries are emerging from a technical recession, the crisis has created a new class of groups and institutions which, although not completely ceasing to exist, have lost the ability to function normally.” As he explains, this means that, while these organisations do not cease to exist, they have become unable to perform the functions “that we expect of them in supporting growth of the economy.” Accordingly, zombie banks cannot lend as we need, zombie consumers cannot consume as we need and so on.

Paolo Nutini, Royal Albert Hall, London<br/>Cranes, Jazz Café, London

He's vain, sings reggae like Sting and has terrible posture. But just try telling that to the ladies...

Credit crisis cost the nation &#163;7trn, says Bank of England

Bank director criticises current regulation and calls for structural reform

'Lehman painted a misleading picture of its condition'

Lehman Report: An Edited Extract

Market Report: Vodafone builds on mobile internet hopes

Hopes of increasing mobile internet use helped Vodafone to weather a weak session on the benchmark FTSE 100 index last night.

Turner: Cost of bank bailout was small compared to instability

The cost of the financial crisis may be much less than was initially feared, the chairman of the Financial Services Authority said yesterday.

Jon Wood: 'We lost out because Rock was the first to suffer'

Owing to the unrealistic terms of reference imposed by the Government, the valuer has confirmed our submission to the courts: that this "compensation" scheme is a "no compensation" scheme by a Government in denial.

Small Talk: One diamond is a mine's best friend

There are some companies on Aim that like to keep a low profile, and others that have a low profile even if they do not want it. Others, its seems, cannot avoid getting into the public eye. Petra Diamonds, the Aim-listed miner, last month earned $6.28m by selling a 168-carat white rock, dug from its Cullinan mine in South Africa this year.

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Turkey-Kurdish conflict: Obama's deal with Ankara is a betrayal of Syrian Kurds and may not even weaken Isis

US betrayal of old ally brings limited reward

Since the accord, the Turks have only waged war on Kurds while no US bomber has used Incirlik airbase, says Patrick Cockburn
VIPs gather for opening of second Suez Canal - but doubts linger over security

'A gift from Egypt to the rest of the world'

VIPs gather for opening of second Suez Canal - but is it really needed?
Jeremy Corbyn dresses abysmally. That's a great thing because it's genuine

Jeremy Corbyn dresses abysmally. That's a great thing because it's genuine

Fashion editor, Alexander Fury, applauds a man who clearly has more important things on his mind
The male menopause and intimations of mortality

Aches, pains and an inkling of mortality

So the male menopause is real, they say, but what would the Victorians, 'old' at 30, think of that, asks DJ Taylor
Man Booker Prize 2015: Anna Smaill - How can I possibly be on the list with these writers I have idolised?

'How can I possibly be on the list with these writers I have idolised?'

Man Booker Prize nominee Anna Smaill on the rise of Kiwi lit
Bettany Hughes interview: The historian on how Socrates would have solved Greece's problems

Bettany Hughes interview

The historian on how Socrates would have solved Greece's problems
Art of the state: Pyongyang propaganda posters to be exhibited in China

Art of the state

Pyongyang propaganda posters to be exhibited in China
Mildreds and Vanilla Black have given vegetarian food a makeover in new cookbooks

Vegetarian food gets a makeover

Long-time vegetarian Holly Williams tries to recreate some of the inventive recipes in Mildreds and Vanilla Black's new cookbooks
The haunting of Shirley Jackson: Was the gothic author's life really as bleak as her fiction?

The haunting of Shirley Jackson

Was the gothic author's life really as bleak as her fiction?
Bill Granger recipes: Heading off on holiday? Try out our chef's seaside-inspired dishes...

Bill Granger's seaside-inspired recipes

These dishes are so easy to make, our chef is almost embarrassed to call them recipes
Ashes 2015: Tourists are limp, leaderless and distinctly UnAustralian

Tourists are limp, leaderless and distinctly UnAustralian

A woefully out-of-form Michael Clarke embodies his team's fragile Ashes campaign, says Michael Calvin
Blairites be warned, this could be the moment Labour turns into Syriza

Andrew Grice: Inside Westminster

Blairites be warned, this could be the moment Labour turns into Syriza
HMS Victory: The mystery of Britain's worst naval disaster is finally solved - 271 years later

The mystery of Britain's worst naval disaster is finally solved - 271 years later

Exclusive: David Keys reveals the research that finally explains why HMS Victory went down with the loss of 1,100 lives
Survivors of the Nagasaki atomic bomb attack: Japan must not abandon its post-war pacifism

'I saw people so injured you couldn't tell if they were dead or alive'

Nagasaki survivors on why Japan must not abandon its post-war pacifism
Jon Stewart: The voice of Democrats who felt Obama had failed to deliver on his 'Yes We Can' slogan, and the voter he tried hardest to keep onside

The voter Obama tried hardest to keep onside

Outgoing The Daily Show host, Jon Stewart, became the voice of Democrats who felt the President had failed to deliver on his ‘Yes We Can’ slogan. Tim Walker charts the ups and downs of their 10-year relationship on screen