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.

Builders 'struggling' in £45bn schools project

The Government's £45bn programme to refurbish or rebuild every secondary school in the country could grind to a halt because of the economic downturn, MPs have warned. Graham Watts, chief executive of the Construction Industry Council, told the Commons Select Committee monitoring schools, that there was a danger that "this promising move and accelerating programme could come to a full stop" if the private sector could not stomp up enough cash to loan to contractors to continue the work.

Jeremy Warner: Banking on the self-evident

Outlook Sir Andrew Large, a former deputy governor of the Bank of England, has this week been making the case for an over-arching authority to ensure financial stability, and he makes it well. Yet who does he propose to be the keeper of this new position but the Bank of England, which has always been responsible for financial stability and is in any case in the process of having its stability functions strengthened.

Leading article: Radical action is needed in this economic emergency

Paralysing deflation, not inflation, is the immediate threat

London Exchange seeks backers for trading facility after Lehman’s fall

The London Stock Exchange is in talks with a number of new City investors for Baikal, its pan-European equity trading facility, to replace Lehman Brothers which had been the exchange’s partner until its recent collapse.

Government under fire over mortgage moves

The Government's response to the mortgage lending crisis has been confused and ineffective critics warn, with calls for new solutions gathering pace as repossessions rise and mortgage lending figures continue to plummet.

Michael Franks: Come on, Oxford, tell us what you'll do with £1bn

In May this year, Oxford appealed to graduates and supporters for £1.25bn. The graduates are being targeted partly for their money, of course – although only a tiny number can afford to give large amounts – but also for their support. The aim is to raise the number of Oxford alumni who make donations to their alma mater towards levels in the USA, where graduates give billions of dollars to their universities.

Jeremy Warner: Time for a public inquiry on the banking crisis

Lessons cannot be learned and acted upon unless the facts are properly understood

Germans freeze £21bn property funds

Crisis foreshadows probable collapse of UK commercial real estate market in 2009

Stakes higher than ever, says Brown

Gordon Brown warned fellow world leaders today that the stakes were "higher than ever before" as he called for agreement on reforms of the global financial system.

<a href="http://blogs.independent.co.uk/openhouse/2008/10/lessons-of-the.html">Hamish McRae: Lessons of the banking bailout</a>

There are two immediate and obvious lessons from the huge public sector recapitalisation of UK banks and the associated flooding of the money markets with liquidity by the world's central banks.

Jeremy Warner's Outlook: It may not work, but at last policymakers are on the right track

The judgement of markets can hardly be described as positive, but it seems to me that the UK authorities have belatedly got their response to the banking crisis broadly right with yesterday's wide-ranging package of measures. Dithering ministers and policy wonks have been swept aside. Treasury mandarins, the Sir Humphreys of this world if you like, seem to be firmly back in the driving seat. Measured and considered, this is exactly what the doctor ordered.

PsychoGeography: Journey's end

In Ibiza the night proceeds according to plan: we set off in convoy, several cars full of us. True, we're going to a party in a swanky villa on the other side of the island, but while half our company are teenaged, the rest of us are past the age when we can do any raving – except against the dying of the light. Then: solid darkness, with headlights gouging it out to expose switchback roads and useless signs. The mobile phone calls begin: like the echo location of decadent bats. Some Ibizan parties can be found by following lizards stencilled on walls, others by pink balloons, but the turning for this one – or so we're assured through the ether – will be clear to us because of a strategically placed pile of three white phones.

Jeremy Warner's Outlook: Brown needs to be more bold in dealing with banking crisis

The politics of the credit crunch have become almost as interesting as the economics, not just in the US, but here in Britain too. For the first time since he ducked out of calling a snap, early general election a year ago, Gordon Brown has the chance to seize back the political initiative with some bold decision-making that restores the reputation he once enjoyed as the "iron Chancellor".

BoE injection eases interbank rates

Signs that the huge interventions made by the world's central banks in the financial markets may be having some impact emerged yesterday, as market interest rates eased perceptibly. Sentiment was improved by the brightening prospects for the Paulson Plan and Lloyds TSB's purchase of HBOS.

Wachovia mulls sale amid banking turmoil

*Central banks fail to halt credit market turbulence
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Independent Travel
Pompeii, Capri & the Bay of Naples
Dubrovnik, the Dalmatian Coast & Montenegro
Burgundy, the River Rhone & Provence
Lisbon, Oporto and the Douro Valley
Lake Garda, Venice & Verona
Spain
Prices correct as of 23 January 2015
Iraq invasion 2003: The bloody warnings six wise men gave to Tony Blair as he prepared to launch poorly planned campaign

What the six wise men told Tony Blair

Months before the invasion of Iraq in 2003, experts sought to warn the PM about his plans. Here, four of them recall that day
25 years of The Independent on Sunday: The stories, the writers and the changes over the last quarter of a century

25 years of The Independent on Sunday

The stories, the writers and the changes over the last quarter of a century
Homeless Veterans appeal: 'Really caring is a dangerous emotion in this kind of work'

Homeless Veterans appeal

As head of The Soldiers' Charity, Martin Rutledge has to temper compassion with realism. He tells Chris Green how his Army career prepared him
Wu-Tang Clan and The Sexual Objects offer fans a chance to own the only copies of their latest albums

Smash hit go under the hammer

It's nice to pick up a new record once in a while, but the purchasers of two latest releases can go a step further - by buying the only copy
Geeks who rocked the world: Documentary looks back at origins of the computer-games industry

The geeks who rocked the world

A new documentary looks back at origins of the computer-games industry
Belle & Sebastian interview: Stuart Murdoch reveals how the band is taking a new direction

Belle & Sebastian is taking a new direction

Twenty years ago, Belle & Sebastian was a fey indie band from Glasgow. It still is – except today, as prime mover Stuart Murdoch admits, it has a global cult following, from Hollywood to South Korea
America: Land of the free, home of the political dynasty

America: Land of the free, home of the political dynasty

These days in the US things are pretty much stuck where they are, both in politics and society at large, says Rupert Cornwell
A graphic history of US civil rights – in comic book form

A graphic history of US civil rights – in comic book form

A veteran of the Fifties campaigns is inspiring a new generation of activists
Winston Churchill: the enigma of a British hero

Winston Churchill: the enigma of a British hero

A C Benson called him 'a horrid little fellow', George Orwell would have shot him, but what a giant he seems now, says DJ Taylor
Growing mussels: Precious freshwater shellfish are thriving in a unique green project

Growing mussels

Precious freshwater shellfish are thriving in a unique green project
Diana Krall: The jazz singer on being friends with Elton John, outer space and skiing in Dubai

Diana Krall interview

The jazz singer on being friends with Elton John, outer space and skiing in Dubai
Pinstriped for action: A glimpse of what the very rich man will be wearing this winter

Pinstriped for action

A glimpse of what the very rich man will be wearing this winter
Russell T Davies & Ben Cook: 'Our friendship flourished online. You can share some very revelatory moments at four in the morning…'

Russell T Davies & Ben Cook: How we met

'Our friendship flourished online. You can share some very revelatory moments at four in the morning…'
Bill Granger recipes: Our chef serves up his favourite Japanese dishes

Bill Granger's Japanese recipes

Stock up on mirin, soy and miso and you have the makings of everyday Japanese cuisine
Michael Calvin: How we need more Eric Cantonas to knock some sense into us

Michael Calvin's Last Word

How we need more Eric Cantonas to knock some sense into us