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The Co-operative Bank's disgraced former chairman, Paul Flowers, apparently won the job because he beat his rivals' psychometric test scores, MPs on the Treasury Committee have been told.

Former chairman of the Co-operative Bank, Paul Flowers

Disgraced Paul Flowers won Co-op job thanks to 'psychometric tests' results

Paul Flowers — the Methodist minister filmed allegedly buying drugs — beat experienced bankers to the post of chairman of the Co-operative Bank because he scored highest on psychometric tests, it emerged today.

The Business Matrix: Tuesday 14 January 2014

Benefits rising for ‘Bake Off’ maker

Watchdog defends approval of former Co-op chair Paul Flowers

The man who approved the appointment of Paul Flowers as chairman of the Co-op told MPs he “stands by the decision”.

The Business Matrix: Tuesday 7 January 2014

Entrepreneurs pray for wealth

Retirement rental hotspots in England and Wales

Homeowners selling their properties in order to turn their equity into cash to boost their retirement incomes

Mr Tomlinson said that many of the new cases also related to RBS and its Global Restructuring Group (GRG)

‘Horror stories’ pile up as another 450 firms complain about banks

Lawrence Tomlinson, author of the inquiry which cited evidence that RBS had deliberately destroyed companies to make a profit, said on Thursday he has received another 450 cases since his report was published at the end of November. Mr Tomlinson, entrepreneur in residence at the Department for Business, Innovation and Skills, added that many of the new cases also related to RBS and its Global Restructuring Group (GRG).

Standard Chartered takes a hit as finance director is stripped of risk role

Finance director Richard Meddings is set to hand over responsibility for risk to chief executive Peter Sands

Staff turnover at financial regulator doubles since split

Staff have been quitting Britain's financial watchdogs at nearly twice the rate since they were split into two bodies this year, data seen by Reuters shows, at a time when experts warn of a regulatory brain drain in Europe's biggest financial hub.

Banks braced for tough new regime of annual stress tests

UK banks will face annual stress tests for the first time to see if they could survive a major collapse in financial markets or the economy, the Bank of England said today.

The Co-operative Bank reported pre-tax losses of £709.4m in the six months to the end of June

Accept £1bn plan or we go bust, warns Co-op Bank as losses see group go almost £560m into the red

Co-operative Bank reports pre-tax losses of £709m in six months to end of June, wiping out profits from its supermarkets

Business week in review

In profit...

Pru warns capital rules are a threat to UK jobs and growth

Prudential’s chief executive Tidjane Thiam has described new capital rules from Brussels as “one of the biggest threats to UK jobs and growth”.

James Moore: We'd better not rush headlong into a party as Carney goes for growth

Outlook Mark Carney seems determined to make a noise, and despite an economic backdrop which appears to give him and his colleagues on the Bank of England's Monetary Policy Committee only limited room for manoeuvre, he's surely done it.

Retired renters pay the price for selling up

Retirees turning their back on the housing market in the pursuit of ready cash to settle debts are paying the price in accommodation costs, the latest figures suggest.

Retired renters increasingly stepping off the property ladder

More than 40% of retired renters are former property owners and pay £423 a month in rent on average

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The difference between America and Israel? There isn’t one

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Netanyahu knows he can get away with anything in America, says Robert Fisk
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David Nussbaum: We didn’t send Cameron to the Arctic to see green ideas freeze

The head of WWF UK remains sanguine despite the Government’s failure to live up to its pledges on the environment
Author Kazuo Ishiguro on being inspired by shoot-outs and samurai

Author Kazuo Ishiguro on being inspired by shoot-outs and samurai

Set in a mythologised 5th-century Britain, ‘The Buried Giant’ is a strange beast
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Money, corruption and drugs

The monk who fears Buddhism in Thailand is a ‘poisoned fruit’
America's first slavery museum established at Django Unchained plantation - 150 years after slavery outlawed

150 years after it was outlawed...

... America's first slavery museum is established in Louisiana
Kelly Clarkson: How I snubbed Simon Cowell and become a Grammy-winning superstar

Kelly Clarkson: How I snubbed Simon Cowell and become a Grammy-winning superstar

The first 'American Idol' winner on how she manages to remain her own woman – Jane Austen fascination and all
Tony Oursler on exploring our uneasy relationship with technology with his new show

You won't believe your eyes

Tony Oursler's new show explores our uneasy relationship with technology. He's one of a growing number of artists with that preoccupation
War with Isis: Fears that the looming battle for Mosul will unleash 'a million refugees'

The battle for Mosul will unleash 'a million refugees'

Aid agencies prepare for vast exodus following planned Iraqi offensive against the Isis-held city, reports Patrick Cockburn
Yvette Cooper: We can't lose the election. There's too much on the line

Yvette Cooper: We can't lose the election. There's too much on the line

The shadow Home Secretary on fighting radical Islam, protecting children, and why anyone in Labour who's thinking beyond May must 'sort themselves out'
A bad week for the Greens: Leader Natalie Bennett's 'car crash' radio interview is followed by Brighton council's failure to set a budget due to infighting

It's not easy being Green

After a bad week in which its leader had a public meltdown and its only city council couldn't agree on a budget vote, what next for the alternative party? It's over to Caroline Lucas to find out
Gorillas nearly missed: BBC producers didn't want to broadcast Sir David Attenborough's famed Rwandan encounter

Gorillas nearly missed

BBC producers didn't want to broadcast Sir David Attenborough's famed Rwandan encounter
Downton Abbey effect sees impoverished Italian nobles inspired to open their doors to paying guests for up to €650 a night

The Downton Abbey effect

Impoverished Italian nobles are opening their doors to paying guests, inspired by the TV drama
China's wild panda numbers have increased by 17% since 2003, new census reveals

China's wild panda numbers on the up

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Barbara Woodward: Britain's first female ambassador to China intends to forge strong links with the growing economic superpower

Our woman in Beijing builds a new relationship

Britain's first female ambassador to China intends to forge strong links with growing economic power
Courage is rare. True humility is even rarer. But the only British soldier to be awarded the Victoria Cross in Afghanistan has both

Courage is rare. True humility is even rarer

Beware of imitations, but the words of the soldier awarded the Victoria Cross were the real thing, says DJ Taylor