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Don’t cry for Aberdeen Asset Management but Argentina’s currency issues sent it falling yesterday.

Morgan Stanley clobbered with £1.1bn bill to loose its bonds

The US investment banking giant Morgan Stanley took a $1.8bn (£1.15bn) hit yesterday as it settled a long-running legal battle over toxic sub-prime debt.

Business Diary: Britain sticks it to French again

In this era of isolationism, the British Government clearly isn't missing any opportunity to stick two fingers up to the French.

Market Report: Rod Stewart still sexy but Icap loses its attraction

It may have been Icap's annual charity day, but the rest of the City was not feeling so altruistic towards the interdealer broker yesterday. As celebrities such as Rod Stewart and Lewis Hamilton manned trading desks at its Liverpool Street offices, the group finished in last place on the top-tier index after punters were warned expectations could be too high.

Market Report: New takeover talk fails to give helping hand to S&N

Familiarity breeds contempt, as Smith & Nephew (S&N) found out yesterday after the return of takeover talk failed to persuade investors to go out on a limb for the prosthetics manufacturer. The group dropped for the sixth straight session even though City analysts were reheating the familiar idea that it may be snapped up by a predator.

Business Diary: Hester holds Lloyds boss dear

Competition in Britain's banking industry may be a cut-throat business, but it is heart-warming to note that there is still a sense of brotherhood.

Morgan Stanley powers past Goldman Sachs

Going by this last quarter's results, Wall Street could have a new top dog. Morgan Stanley trounced not just market expectations for its latest three-month revenues, but its arch-rival Goldman Sachs as well. "Morgan Stanley is the new Goldman Sachs," the Rochdale Securities' analyst Dick Bove declared after seeing the results yesterday. Morgan Stanley's bonds, commodities and currency trading operations brought in revenues of $1.9bn (£1.67bn), up from $1.7bn, despite the new regulations and caution on the part of clients that have been affecting all Wall Street firms since the financial crisis.

Market Report: Gulf of Mexico optimism fails to stop BP falling

Claims that its final bill for the Gulf of Mexico tragedy is being hugely overestimated failed to stop BP sinking last night, as oil prices plummeted after the International Energy Agency (IEA) revealed it was releasing 60m barrels from its reserves.

Business Diary: Red faces over Lord Browne

Glencore, the commodities trader that announced its record-breaking flotation yesterday, has Finsbury doing its PR. It is run by Roland Rudd, who is a close friend of Robert Peston, the BBC's Business Editor. So, when Peston revealed yesterday that Glencore had appointed ex-BP boss Lord Browne as its chairman, the world assumed he knew what he was talking about. Some surprise then when Glencore announced several hours later that Simon Murray was its new chairman. "OMG" Peston told the world via Twitter.

Bats Global close to Chi-X takeover

Chi-X, the pan-European trading platform owned by a consortium of investment banks including Goldman Sachs and Morgan Stanley, is believed to be close to agreeing to a $360m (£223m) takeover by US rival Bats Global Markets.

Bankers face shock over deferred bonuses

Thousands of bankers are set for a nasty shock when their bonuses arrive, as the majority of them still do not realise that much of this year's payout must be deferred.

Bankers to brave -30C to pitch for Mongolian mine

More than 20 of the world's biggest investment banks will next week to pitch for roles on a potential $8bn London listing of a state-owned Mongolian coal mine.

Market Report: Drug makers face rising threat of legal action

The pharmaceuticals companies faced a bitter pill to swallow yesterday, as investors were warned of the rising danger of legal action within the sector. In the wake of the announcement from GlaxoSmithKline earlier in the week that it is putting aside £2.2bn to cover legal costs, Morgan Stanley said that the "risk of enforcement for the healthcare industry has reached an all-time high".

Morgan Stanley ups pay as profits rise

Morgan Stanley spent $16bn on pay last year, up from $14.4bn in 2009, but increased the amount of deferred bonuses and cut back on the portion paid in cash.

The Business On... John Havens, Citigroup

We hear congratulations are in order

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Burgundy, the River Rhone & Provence – MS Swiss Corona - seven nights from £999pp
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A new Russian revolution: Cracks start to appear in Putin’s Kremlin power bloc

A new Russian revolution

Cracks start to appear in Putin’s Kremlin power bloc
Eugene de Kock: Apartheid’s sadistic killer that his country cannot forgive

Apartheid’s sadistic killer that his country cannot forgive

The debate rages in South Africa over whether Eugene de Kock should ever be released from jail
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Standing my ground

If sitting is bad for your health, what happens when you stay on your feet for a whole month?
Commonwealth Games 2014: Dai Greene prays for chance to rebuild after injury agony

Greene prays for chance to rebuild after injury agony

Welsh hurdler was World, European and Commonwealth champion, but then the injuries crept in
Israel-Gaza conflict: Secret report helps Israelis to hide facts

Patrick Cockburn: Secret report helps Israel to hide facts

The slickness of Israel's spokesmen is rooted in directions set down by pollster Frank Luntz
The man who dared to go on holiday

The man who dared to go on holiday

New York's mayor has taken a vacation - in a nation that has still to enforce paid leave, it caused quite a stir, reports Rupert Cornwell
Best comedians: How the professionals go about their funny business, from Sarah Millican to Marcus Brigstocke

Best comedians: How the professionals go about their funny business

For all those wanting to know how stand-ups keep standing, here are some of the best moments
The Guest List 2014: Forget the Man Booker longlist, Literary Editor Katy Guest offers her alternative picks

The Guest List 2014

Forget the Man Booker longlist, Literary Editor Katy Guest offers her alternative picks
Jokes on Hollywood: 'With comedy film audiences shrinking, it’s time to move on'

Jokes on Hollywood

With comedy film audiences shrinking, it’s time to move on
It's the best of British art... but not all is on display

It's the best of British art... but not all is on display

Voted for by the British public, the artworks on Art Everywhere posters may be the only place where they can be seen
Critic claims 'I was the inspiration for Blanche DuBois'

Critic claims 'I was the inspiration for Blanche DuBois'

Blanche Marvin reveals how Tennessee Williams used her name and an off-the-cuff remark to create an iconic character
Sometimes it's hard to be a literary novelist

Sometimes it's hard to be a literary novelist

Websites offering your ebooks for nothing is only the latest disrespect the modern writer is subjected to, says DJ Taylor
Edinburgh Fringe 2014: The comedy highlights, from Bridget Christie to Jack Dee

Edinburgh Fringe 2014

The comedy highlights, from Bridget Christie to Jack Dee
Dame Jenny Abramsky: 'We have to rethink. If not, museums and parks will close'

Dame Jenny Abramsky: 'We have to rethink. If not, museums and parks will close'

The woman stepping down as chair of the Heritage Lottery Fund is worried