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.

ECB to begin exit from emergency bank support

The European Central Bank is to begin withdrawing its massive support for the European single currency zone's financial system, despite warning that the economic recovery is likely to be fragile and patchy next year.

The Bank's top economist goes back on message

While he has publicly expressed doubts about the Bank of England's policy of quantitative easing – the injection of £200bn into the economy – and voted, in a minority of one, against the last extension of the programme, the Bank's chief economist Spencer Dale yesterday delivered an upbeat assessment of QE's success. "[The economy] appears to have turned," Mr Dale said.

David Prosser: Honesty is always the best policy

Outlook The scale of the loans provided in October 2008 to HBOS and Royal Bank of Scotland are breathtaking, but the fact the Bank of England has managed to keep them secret until a time of its own choosing is also interesting. A little over a year previously, when news leaked out that the Bank was providing emergency funding to Northern Rock, there was a noisy protest that the lender of last resort could no longer intervene discreetly before banking crises got out of hand. But this is exactly what the Bank then managed to do at HBOS and RBS, thanks to new powers given to it following the Rock affair.

Liquid assets: Christmas wines

Anthony Rose picks the perfect wines for the party season - and highlights the deals that will make Christmas less painful.

Life in the City: Closing down the fast lane

High-frequency traders are already under attack from US regulators. Now City minister Lord Myners wants a similar sort of crackdown in this country. Stephen Foley explains why the technique is so controversial

George Osborne: Common sense, not envy, dictates that we clamp down on bonuses

The banks have to understand that we are all in this together. I am today calling on the Treasury and the FSA to combine forces and stop retail banks - in other words the banks that lend directly to businesses and families - paying out profits in significant cash bonuses. Full stop.

Recession closes 26,000 shops in nine months

Nearly 26,000 shops went out of business in the first nine months of this year, with multiple retailers as badly affected as independents.

Liquid assets: If a garden is properly looked after, there's less need for watering than you might imagine

Dictionaries are wonderful time-wasters. I've just looked up "sustainable" in mine and been waylaid by Sussex spaniel ("a short-legged breed of spaniel with a golden-brown coat"), sutra ("Sanskrit sayings on Vedic doctrine") and sutler ("a merchant who accompanied an army in order to sell provisions to the soldiers").

First Night: The Power of Yes, Lyttelton, National Theatre

Tenacious and lucid, but men in suits show dull side of recession

Mark Dampier: Commercial property comes good

The Analyst

Lord Turner: Admit it: a bigger financial system is not necessarily a better one

The banking system is stable. House prices have fallen much less than anticipated. Big emerging economies have proved far more robust than we feared. The Bank of England mid-point forecast suggests fairly robust UK growth over the next three years. But we need radical change.

Brokers buy into exchange

Wall Street's top broking firms, including Goldman Sachs, Merrill Lynch and Barclays, are buying a stake in a major US options exchange, as the war for a share of the $1.9trillion options trading market hots up.

Adrian Hamilton: Curbing bonuses won't solve anything

Tax bonuses generally by all means but concentrating the fire on the City won't work

Stephen Foley: Four words could return to haunt us

US Outlook: With each passing day, it seems the lessons we learned when the credit crisis reached its crescendo are becoming fuzzier, harder to grasp at or even slipping away. One of the symptoms of this is the ease with which the language of Wall Street has begun to reassert itself in the debate about how to reform finance.

Half of Premier League clubs 'rely on wealthy backers'

The stars of the Premiership are known for splashing their cash on fast cars, champagne cocktails and the expensive tastes of their glamourous wives and girlfriends.

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