News

Istanbul aggressively increased its overnight lending rate to 12% from 7.75%

Alliance defeats Laxey's shares buyback proposal

Alliance Trust has seen off an attempt by rebel investor Laxey Partners to force the investment trust to buy back shares trading at a discount to net asset value of 10 per cent or more.

Stock Markets: 21/05/2011

New York

Stocks slid amid signs that American consumer demand may be weakening, and fears about the Greek debt crisis. The Dow Jones industrial average fell 33.30 points, or 0.26 per cent, to 12,572.63 in afternoon trading.





Workers enter Fukushima No3 reactor at last

Japanese workers have entered the last of three reactor buildings hit by nuclear fuel meltdowns at the crippled Fukushima plant. The operator, Tokyo Electric, is moving to stabilise a facility that has been leaking radiation for more than two months.

David Prosser: Greater auditing competition is overdue

Outlook The Office of Fair Trading's latest thoughts on competition in the audit market (or the lack of it) make interesting reading. Not only does it question whether Britain can tackle the problem without assistance from the European Commission – in which case, it says, why bother with a Competition Commission inquiry? – but it also effectively suggests that the big four audit firms' clients must shoulder some of the blame for concentration in the industry.

Sharaku: The mystery man unmasked

In 10 months, Japanese artist Sharaku created prints that became classics – then he vanished. Adrian Hamilton is gripped by an enigma at the Tokyo National Museum

Radioactive 'pond' found at Fukushima

Japanese officials have found an Olympic swimming pool-sized pond of radioactive water in the basement of a unit at the Fukushima nuclear plant crippled by the March earthquake and tsunami.

Third worker dies at Fukushima nuclear plant

A worker at Japan's tsunami-crippled Fukushima Daiichi nuclear power plant died today, plant operator Tokyo Electric Power Co said, bringing the death toll at the complex to three since a massive earthquake and tsunami in March.

ONS revises data on construction industry

Britain's building industry endured another contraction of output in the first three months of the year – but by less than previously estimated, the Office for National Statistics says.

Partial meltdown hits Fukushima nuclear plant

Uranium fuel in at least one of the six reactors at Fukushima has melted, the operator of the crippled nuclear plant has said. The admission effectively torpedoes a plan to flood the overheating fuel with water and bring a quick end to the worst nuclear crisis since Chernobyl.

Warm weather catches out Supergroup

Shares in Supergroup, owner of the Superdry clothing brand, fell by nearly 23 per cent to 1219p yesterday after it posted a sharp slowdown in its sales growth.

David Prosser: Alliance prepares to face its tormentor

Outlook The day of reckoning is fast approaching for Alliance Trust and its highly regarded boss, Katherine Garrett-Cox. Laxey Partners, its dissident shareholder, yesterday won the backing of two corporate governance groups for its campaign to force Alliance to implement an automatic discount- control mechanism.

Osborne 'unlocks' Stock Exchange in new ceremony

The London Stock Exchange's version of Wall Street's opening bell was launched yesterday with the use of a giant countdown clock and key.

National Express nears Elliott truce

The transport operator National Express, which last week put on a show of strength with news of rising profits amid calls by its biggest shareholder for strategic changes, is close to striking a deal with the dissenting investor before its annual meeting tomorrow.

Flying in for the summer

A gannet comes in to land at the RSPB's Bempton Cliffs on the East Yorkshire coast. About 20,000 gannets, which pair for life and can live for more than 20 years, are among the quarter of a million seabirds that return to nest each summer on the 100m high chalk cliffs at Bempton.

The Hedonist: Tokyo

What to see and where to be seen
News
A model of a Neanderthal man on display at the National Museum of Prehistory in Dordogne, France
science
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Dawkins: 'There’s a very interesting reason why a prince could not turn into a frog – it's statistically too improbable'
newsThat's Richard Dawkins on babies with Down Syndrome
Arts and Entertainment
Eye of the beholder? 'Concrete lasagne' Preston bus station
architectureWhich monstrosities should be nominated for the Dead Prize?
Extras
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Anna Nicole Smith died of an accidental overdose in 2007
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Life and Style
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Arts and Entertainment
'The Great British Bake Off' showcases food at its most sumptuous
tvReview: Bread-making skills of the Bake Off hopefuls put to the test
Property
A cupboard on sale for £7,500 in London
lifeAnother baffling example of the capital’s housing crisis
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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
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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
eBay's enduring appeal: Online auction site is still the UK's most popular e-commerce retailer

eBay's enduring appeal

The online auction site is still the UK's most popular e-commerce site
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
Artist Olafur Eliasson's latest large-scale works are inspired by the paintings of JMW Turner

Magic circles: Artist Olafur Eliasson

Eliasson's works will go alongside a new exhibition of JMW Turner at Tate Britain. He tells Jay Merrick why the paintings of his hero are ripe for reinvention
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
Matthew McConaughey has been singing the praises of bumbags (shame he doesn't know how to wear one)

Matthew McConaughey sings the praises of bumbags

Shame he doesn't know how to wear one. Harriet Walker explains the dos and don'ts of fanny packs
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
Joey Barton: ‘I’ve been guilty of getting a bit irate’

Joey Barton: ‘I’ve been guilty of getting a bit irate’

The midfielder returned to the Premier League after two years last weekend. The controversial character had much to discuss after his first game back
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