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

MWB 'holding gun to head' of rival investors

The spat between MWB Business Exchange and one of its investors escalated into open warfare yesterday over claims the management was "holding a gun" to minority shareholders' heads. This comes as a rival bidder last night walked away.

Investor gives shares to Gulf Keystone's CEO

One of Gulf Keystone Petroleum's biggest shareholders transferred more than 11 million shares to the oil prospector's chief executive Todd Kozel last month – without his knowing of the transfer.

'Beetle Queen Conquers Tokyo' zooms in on Japan's obsession with insects

Whilst insects are often greeted with a shudder in the Western world, in Japan, these tiny creatures are a source of admiration and enthralment. It's this intriguing cultural difference that forms the basis of a documentary by Jessica Oreck, who spent six weeks in Japan filming the country's fascination with insects. "They couldn't get it into their heads that the same culture didn't exist in America," says the young director. "Every time I started oohing and aahing over a beetle, the entomologist would be like, 'What, they don't sell these in your grocery stores?'"

Shareholders call for clarity as MWB bid 'defies logic'

Angry shareholders yesterday demanded answers from MWB Business Exchange's independent board, saying it had "defied logic" by rejecting a £60m bid on valuation grounds in favour of an offer of barely half that sum.

Japan workers ditch their suits to save power

In a country synonymous with the buttoned-down corporate army that keeps its huge economy humming, getting Japan to ditch its suits is an uphill task. A summer power crunch in Tokyo exacerbated by the crisis at the Fukushima nuclear plant, however, is forcing the government to ask the impossible.

Nuclear plant moves radioactive water

The Japanese utility battling to bring its radiation-spewing nuclear reactor under control said today that 1,500 more tons of radioactive water are being moved into temporary storage — the latest attempt to prevent a massive spill of contaminated water into the environment.

Inside travel: Japan

Foreigners are more welcome than ever in a city coming to terms with tragedy, says Adrian Hamilton

Japan staff exceed radiation limit

The operator of Japan's crippled nuclear power plant said two workers have exceeded a radiation exposure limit for men.

David Prosser: The case against fat cat pay has to be accurate

Outlook It is fair to say the short statement made yesterday by MM&K, the pay consultants, has produced fewer column inches than its pronouncement on Monday – a report on executive pay that received blanket coverage because it exposed fat cat directors ashaving received huge salary hikes last year, while their staff got almost nothing. Yesterday's statement revealed it had cocked up the figures on the pay of the manfingered as one of the biggest earners of 2010. It turns out Icap boss Michael Spencer actually saw his pay fall by 40 per cent last year.

David Prosser: Is the official economic data built on straw?

Outlook After the dismal manufacturing figures on Wednesday, yesterday's construction data from the Chartered Institute of Purchasing and Supply, which showed a pick-up in the sector in May, was very welcome. That construction is recovering from the sharp downturn in the first quarter is good news in itself, of course, but the improving data also helps the case of those in the industry who say the Office of National Statistics painted a picture of their performance in the first three months of the year that was far too pessimistic. That's to be welcomed: not out of any desire to see the ONS embarrassed, but because it may mean the economy is not performing as badly as thought.

Kroenke deal gets approval

Arsenal say the Premier League have given approval to the takeover of the club by American Stan Kroenke.

Shareholders vote down Robert Walters pay awards

Robert Walters faced a stinging shareholder revolt at its annual meeting yesterday, with investors rejecting pay policies at the recruitment group.

Lennon ends season on Hampden high

Neil Lennon ended a troubled season on a high at Hampden Park on Saturday as Celtic lifted the Scottish Cup with victory over Motherwell. It gave Lennon his first piece of silverware as Celtic manager after they lost out to Rangers in the league. It is also likely to result in a new long-term contract. "He's got a good future," said Dermot Desmond, Celtic's majority shareholder "He'll get a new contract; for a very long time." Lennon said of the 3-0 victory: "We love the game, we try to entertain and we try to win with a bit of style."

Directors in loss-making Gulf Keystone earn over $1.1m each

The six executive and non-executive directors of Gulf Keystone Petroleum, the junior AIM-listed oil & gas explorer, all took home at least $1.1m last year.

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Minoan Crete and Santorini
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Fifa corruption: The 161-page dossier that exposes the organisation's dark heart

The 161-page dossier that exposes Fifa's dark heart

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Mediterranean migrant crisis: 'If Europe thinks bombing boats will stop smuggling, it will not. We will defend ourselves,' says Tripoli PM

Exclusive interview with Tripoli PM Khalifa al-Ghweil

'If Europe thinks bombing boats will stop smuggling, it will not. We will defend ourselves'
Raymond Chandler's Los Angeles: How the author foretold the Californian water crisis

Raymond Chandler's Los Angeles

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Chinese artist who posted funny image of President Xi Jinping facing five years in prison as authorities crackdown on dissent in the arts

Art attack

Chinese artist who posted funny image of President Xi Jinping facing five years in prison
Marc Jacobs is putting Cher in the limelight as the face of his latest campaign

Cher is the new face of Marc Jacobs

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Parents of six-year-old who beat leukaemia plan to climb Ben Nevis for cancer charity

'I'm climbing Ben Nevis for my daughter'

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10 best wedding gift ideas

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Paul Scholes column: With the Premier League over for another year, here are my end of season awards

Paul Scholes column

With the Premier League over for another year, here are my end of season awards
Heysel disaster 30th anniversary: Liverpool have seen too much tragedy to forget fateful day in Belgium

Liverpool have seen too much tragedy to forget Heysel

Thirty years ago, 39 fans waiting to watch a European Cup final died as a result of a fatal cocktail of circumstances. Ian Herbert looks at how a club dealt with this tragedy
Amir Khan vs Chris Algieri: Khan’s audition for Floyd Mayweather may turn into a no-win situation, says Frank Warren

Khan’s audition for Mayweather may turn into a no-win situation

The Bolton fighter could be damned if he dazzles and damned if he doesn’t against Algieri, the man last seen being decked six times by Pacquiao, says Frank Warren
Blundering Tony Blair quits as Middle East peace envoy – only Israel will miss him

Blundering Blair quits as Middle East peace envoy – only Israel will miss him

For Arabs – and for Britons who lost their loved ones in his shambolic war in Iraq – his appointment was an insult, says Robert Fisk
Fifa corruption arrests: All hail the Feds for riding to football's rescue

Fifa corruption arrests

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Isis in Syria: The Kurdish enclave still resisting the tyranny of President Assad and militant fighters

The Kurdish enclave still resisting the tyranny of Assad and Isis

In Syrian Kurdish cantons along the Turkish border, the progressive aims of the 2011 uprising are being enacted despite the war. Patrick Cockburn returns to Amuda
How I survived Cambodia's Killing Fields: Acclaimed surgeon SreyRam Kuy celebrates her mother's determination to escape the US

How I survived Cambodia's Killing Fields

Acclaimed surgeon SreyRam Kuy celebrates her mother's determination to escape to the US
Stephen Mangan interview: From posh buffoon to pregnant dad, the actor has quite a range

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