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My Week If there was any justice in the financial world, the people who run the big debt rating agencies would be hanging from lamp-posts along with the investment bankers for the way in which their activities contributed to the 2008 financial crash. But they emerged pretty well unscathed, barring a few uncomfortable sessions before congressional committees. Politicians threatened all sorts of legislative nasties at the time, but it turned out to be all sound and fury signifying not very much.

Cardiff City manager Malky Mackay has been given a vote of confidence from owner Vincent Tan

Malky Mackay to seek assurances over Cardiff City future in meeting with Vincent Tan later today

The Bluebirds manager has had his future thrown into doubt after Tan dismissed Iain Moody to replace him with his son's friend Alisher Apsalyamov

Vincent Tan and Malky Mackay

Cardiff City to hold board meeting in wake of speculation around future of manager Malky Mackay

Earlier this week Iain Moody was removed as head of recruitment and replaced with a 23-year-old

Vincent Tan and Malky Mackay

Future of Malky Mackay under threat after Cardiff City owner Vincent Tan sidelines key assistant

Bluebirds' head scout replaced by 23-year-old friend of controversial club owner's son

Hamish McRae: With political calamities piling up, why are markets so keen on the US?

There is one concern that even optimists need to acknowledge. The US may, indeed, default

Buffett backs Canadian oil sands boom

Warren Buffett's Berkshire Hathaway is betting on Alberta's oil sands boom, buying a stake in the Canadian-based energy giant Suncor, according to regulatory filings.

IMF raises UK growth forecast but trade and output data disappoint

The International Monetary Fund partially reversed its previous cut to its UK growth forecasts yesterday, but weak manufacturing figures showed that the economy remains deeply unbalanced.

An adaptation of Charlotte Rogan's book The Lifeboat has Anne Hathaway attached to star in and produce

Screen Talk: Hello, Hathaway, we've a problem

Tinseltown Insider

The Co-op defended its banking business today

Lloyds denies Co-op deal pressure

Lloyds Banking Group bosses denied political pressure to accept the Co-operative Bank's ill-fated £700 million bid for its branches today, insisting they acted in the best interests of shareholders.

The Co-op has been under intense scrutiny after pulling out of a deal to buy more than 600 branches from Lloyds Banking Group

Co-op drafts in 'bad bank' boss to tackle its £1bn black hole

The Co-op today called in the boss of Britain's official "bad bank" to sort out its own troubled lender.

Co-op Bank said Tootell had been specifically appointed to lead the bank through the potential Project Verde takeover of Lloyds branches

Co-op bank boss quits as Moody's downgrades credit rating and raises spectre of 'external support'

Chief executive quits amid news that ‘external support’ may be needed to plug £1bn hole in balance sheet

The Co-op defended its banking business today

Q&A: Co-op bank's downgrade - should I be worried?

Should I be worried about my Co-op Bank account?

George Osborne's credibility may take another hit, after Fitch credit rating agency downgraded the UK's rating

Another blow for George Osborne as Fitch downgrades UK's credit rating

Agency worried by 'weaker economic and fiscal outlook'

Anthony Hilton: Credit rating agencies? You cannot be serious

The big change this week was that the UK was no longer rated triple A by the credit analysts at Moody's and there was apprehension at how the markets would react.

James Moore: It's not just the weather that's making homebuyers batten down the hatches

Outlook. Plus: Hiscox quits with a storming success; Pearson boss vows to stick with the FT

City refuses to panic over the loss of UK's AAA credit rating

The City refused to panic over the loss of the UK’s AAA rating today as shares headed higher and sterling avoided a major sell-off.

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Day In a Page

Burgundy, the River Rhone & Provence – MS Swiss Corona - seven nights from £999pp
Lake Maggiore, Orta and the Matterhorn – seven nights from £899pp
Sicily – seven nights from £939pp
Pompeii, Capri and the Bay of Naples - seven nights from £799pp
Istanbul Ephesus & Troy – six nights from £859pp
Mary Rose – two nights from £319pp
Backhanders, bribery and abuses of power have soared in China as economy surges

Bribery and abuses of power soar in China

The bribery is fuelled by the surge in China's economy but the rules of corruption are subtle and unspoken, finds Evan Osnos, as he learns the dark arts from a master
Commonwealth Games 2014: Highland terriers stole the show at the opening ceremony

Highland terriers steal the show at opening ceremony

Gillian Orr explores why a dog loved by film stars and presidents is finally having its day
German art world rocked as artists use renowned fat sculpture to distil schnapps

Brewing the fat from artwork angers widow of sculptor

Part of Joseph Beuys' 1982 sculpture 'Fettecke' used to distil schnapps
BBC's The Secret History of Our Streets reveals a fascinating window into Britain's past

BBC takes viewers back down memory lane

The Secret History of Our Streets, which returns with three films looking at Scottish streets, is the inverse of Benefits Street - delivering warmth instead of cynicism
Joe, film review: Nicolas Cage delivers an astonishing performance in low budget drama

Nicolas Cage shines in low-budget drama Joe

Cage plays an ex-con in David Gordon Green's independent drama, which has been adapted from a novel by Larry Brown
How to make your own gourmet ice lollies, granitas, slushy cocktails and frozen yoghurt

Make your own ice lollies and frozen yoghurt

Think outside the cool box for this summer's tempting frozen treats
Ford Fiesta is UK's most popular car of all-time, with sales topping 4.1 million since 1976

Fiesta is UK's most popular car of all-time

Sales have topped 4.1 million since 1976. To celebrate this milestone, four Independent writers recall their Fiestas with pride
10 best reed diffusers

Heaven scent: 10 best reed diffusers

Keep your rooms smelling summery and fresh with one of these subtle but distinctive home fragrances that’ll last you months
Commonwealth Games 2014: Female boxers set to compete for first time

Female boxers set to compete at Commonwealth Games for first time

There’s no favourites and with no headguards anything could happen
Five things we’ve learned so far about Manchester United under Louis van Gaal

Five things we’ve learned so far about United under Van Gaal

It’s impossible to avoid the impression that the Dutch manager is playing to the gallery a little
Screwing your way to the top? Good for Lana Del Rey for helping kill that myth

Screwing your way to the top?

Good for Lana Del Rey for helping kill that myth, says Grace Dent
Will the young Britons fighting in Syria be allowed to return home and resume their lives?

Will Britons fighting in Syria be able to resume their lives?

Tony Blair's Terrorism Act 2006 has made it an offence to take part in military action abroad with a "political, ideological, religious or racial motive"
Beyoncé poses as Rosie the Riveter, the wartime poster girl who became a feminist pin-up

Beyoncé poses as Rosie the Riveter

The wartime poster girl became the ultimate American symbol of female empowerment
The quest to find the perfect pair of earphones: Are custom, 3D printed earbuds the solution?

The quest to find the perfect pair of earphones

Earphones don't fit properly, offer mediocre audio quality and can even be painful. So the quest to design the perfect pair is music to Seth Stevenson's ears
US Army's shooting star: Lt-Col Steven Cole is the man Hollywood calls when it wants to borrow a tank or check a military uniform

Meet the US Army's shooting star

Lt-Col Steven Cole is the man Hollywood calls when it wants to borrow a tank or check a military uniform