News

Standard Chartered has unveiled sweeping changes in its boardroom following reports of discord at the top of the FTSE 100 bank.

Banks face £2.5bn new tax

Britain's new £2.5 billion a year permanent bank tax will take a step forward when draft legislation is published tomorrow, the Chancellor said today.

Taxes and regulation 'exile talent from City'

The City of London is finding it harder to attract top financial-services talent because of higher taxes and stiffer regulation, according to Peter Sands, the chief executive of Standard Chartered.

Cable puts thumb screws on the tight-fisted banks

Vince Cable, the Business Secretary, will step up the pressure on the UK's high street bankers tomorrow morning when he confronts them at the first meeting of the Small Business Economic Forum.

US banks to post rise in profits, but investment income slumps

Mixed third-quarter predictions blamed on 'lacklustre trading environment'

HSBC still out of Africa after walking away from Nedbank takeover

HSBC walked away yesterday from its proposed 50bn rand (£4.6bn) takeover of 70 per cent of South Africa's Nedbank – but the company could come back to the table if its majority owner, Old Mutual, lowers its price.

Standard Chartered in shock £3.5bn cash call

Standard Chartered, the emerging markets bank, yesterday unveiled a £3.3bn rights issue net of fees to meet regulators' demands that banks hold more capital. The move immediately sparked speculation that Barclays could be next, with its shares falling 2.75p at 292p as a result.

David Prosser: The bank doth not protest too much

Outlook Standard Chartered's insistence yesterday that its £3.5bn rights issue has been launched primarily with the more stringent capital requirements of Basel III in mind was met with some scepticism in the market. After all, the bank raised £1bn in August 2009 and its Tier One capital ratio, at 9 per cent, is comfortably ahead of the 7 per cent required under Basel III. Might the cash call have more to do with amassing funds for acquisitions, some analysts wondered?

Market Report: Hammerson rises high after new focus on retail

Hammerson was among the gainers as the FTSE 100, swept up by the mining sector, broke through the 5,700 mark last night.

Market Report: Standard Chartered banks gains on bid talk

Standard Chartered outshone its peers as the rumour-mongers touted bid theories last night.

Leading bankers warn that new rules will hit recovery

"Too tough" banking regulation will put a "drag on economic recovery" and cost upwards of 10 million jobs globally, the world's leading bankers have warned.

Eric Daniels to step down from Lloyds

Departing chief says HBOS deal that led to bailout will prove to be good for the bank

David Prosser: Sir Stuart fades from the public eye

Outlook Sir Stuart Rose must be counting the days until 4 January 2011, when he is finally due to walk away from Marks & Spencer. He clearly feels thoroughly under-appreciated for his record at M&S, with rows over corporate governance and pay, and a mixed performance over the past 18 months from the retailer having undermined his claim to have rescued it from the clutches of Sir Philip Green six long years ago.

The business on...Stuart Gulliver, HSBC Chairman, Europe / Middle East

The man who would be king?

Maybe one day. HSBC boss Michael Geoghegan isn't going anywhere for a while, but Mr Gulliver, head of investment banking globally, and the whole bank in Europe and Middle East, is now widely seen as his most likely successor.

HSBC starts exclusive talks with Nedbank

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Middle East crisis: We know all too much about the cruelty of Isis – but all too little about who they are

We know all too much about the cruelty of Isis – but all too little about who they are

Now Obama has seen the next US reporter to be threatened with beheading, will he blink, asks Robert Fisk
Neanderthals lived alongside humans for centuries, latest study shows

Final resting place of our Neanderthal neighbours revealed

Bones dated to 40,000 years ago show species may have died out in Belgium species co-existed
Scottish independence: The new Scots who hold fate of the UK in their hands

The new Scots who hold fate of the UK in their hands

Scotland’s immigrants are as passionate about the future of their adopted nation as anyone else
Britain's ugliest buildings: Which monstrosities should be nominated for the Dead Prize?

Blight club: Britain's ugliest buildings

Following the architect Cameron Sinclair's introduction of the Dead Prize, an award for ugly buildings, John Rentoul reflects on some of the biggest blots on the UK landscape
Culture Minister Ed Vaizey: ‘lack of ethnic minority and black faces on TV is weird’

'Lack of ethnic minority and black faces on TV is weird'

Culture Minister Ed Vaizey calls for immediate action to address the problem
Josephine Dickinson: 'A cochlear implant helped me to discover a new world of sound'

Josephine Dickinson: 'How I discovered a new world of sound'

After going deaf as a child, musician and poet Josephine Dickinson made do with a hearing aid for five decades. Then she had a cochlear implant - and everything changed
Greggs Google fail: Was the bakery's response to its logo mishap a stroke of marketing genius?

Greggs gives lesson in crisis management

After a mishap with their logo, high street staple Greggs went viral this week. But, as Simon Usborne discovers, their social media response was anything but half baked
7 best quadcopters and drones

Flying fun: 7 best quadcopters and drones

From state of the art devices with stabilised cameras to mini gadgets that can soar around the home, we take some flying objects for a spin
Andy Murray: I quit while I’m ahead too often

Andy Murray: I quit while I’m ahead too often

British No 1 knows his consistency as well as his fitness needs working on as he prepares for the US Open after a ‘very, very up and down’ year
Ferguson: In the heartlands of America, a descent into madness

A descent into madness in America's heartlands

David Usborne arrived in Ferguson, Missouri to be greeted by a scene more redolent of Gaza and Afghanistan
BBC’s filming of raid at Sir Cliff’s home ‘may be result of corruption’

BBC faces corruption allegation over its Sir Cliff police raid coverage

Reporter’s relationship with police under scrutiny as DG is summoned by MPs to explain extensive live broadcast of swoop on singer’s home
Lauded therapist Harley Mille still in limbo as battle to stay in Britain drags on

Lauded therapist still in limbo as battle to stay in Britain drags on

Australian Harley Miller is as frustrated by court delays as she is with the idiosyncrasies of immigration law
Lewis Fry Richardson's weather forecasts changed the world. But could his predictions of war do the same?

Lewis Fry Richardson's weather forecasts changed the world...

But could his predictions of war do the same?
Kate Bush asks fans not to take photos at her London gigs: 'I want to have contact with the audience, not iPhones'

'I want to have contact with the audience, not iPhones'

Kate Bush asks fans not to take photos at her London gigs
Under-35s have rated gardening in their top five favourite leisure activities, but why?

Young at hort

Under-35s have rated gardening in their top five favourite leisure activities. But why are so many people are swapping sweaty clubs for leafy shrubs?