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Special report: The story of Sir Mervyn King's reign at the Bank

Wed, 19 Jun 2013 23:00:00 GMT

Sir Mervyn King has let it be known he will not be writing a "kiss and tell" memoir of self-justification as Governor of the Bank of England when he steps down at the end of the month. Instead, he will place a personal account of his 10 years in the hot seat at Threadneedle Street in the Bank's internal record department. This will become generally available, like all public documents, after 30 years. Sir Mervyn wants future generations to be his judge.

Sainsbury's boosts clothing sales through Tu brand

Wed, 19 Jun 2013 23:00:00 GMT

Sainsbury's has seen a 15 per cent rise in the number of customers buying clothing, as its fashion sales head towards the £700m barrier. The UK's third-biggest supermarket chain said 7.5 million shoppers had bought at least one fashion item in the past 12 months, 1 million more than a year ago.

US jobless to fall but Fed wary of putting brakes on stimulus

Wed, 19 Jun 2013 23:00:00 GMT

The US Federal Reserve's bond buying programme could begin to slow down this year and come to an end around the middle of next year, the country's top central banker, Ben Bernanke, said yesterday.

Sean Combs gears up to launch his music television channel for young 'millennials'

Wed, 19 Jun 2013 23:00:00 GMT

The rap music impresario Sean Combs has gone on a charm offensive to woo the world's biggest advertisers as he gears up for the launch of his new television channel, called Revolt TV, aimed at what he calls "millennials" – people in their teens and early twenties who were born just before the new millennium.

M&S recruits two directors after Neville Richardson's departure

Wed, 19 Jun 2013 23:00:00 GMT

Marks & Spencer Bank has replenished its board after the departure of the former Co-op Bank boss Neville Richardson.

James Moore: Bt's Ian Livingston times exit well while the going is good

Wed, 19 Jun 2013 23:00:00 GMT

Outlook One of the key skills for a chief executive is getting the timing of your departure right. Ideally, you want to ensure a successor has six months in the job with a couple of decent trading statements before any serious problems emerge.

BT chief Ian Livingston quits to join Coalition Government

Wed, 19 Jun 2013 23:00:00 GMT

Ian Livingston has been lured from helm of BT to become David Cameron's Trade minister, banging the drum for UK exports and inward investment.

James Moore: Only way forward is to pay the whistle-blowers

Wed, 19 Jun 2013 23:00:00 GMT

Outlook Part of the Parliamentary Commission on Banking's report dealt with whistle-blowers. We've seen Acts of Parliament, allegedly designed to assist them, and the report calls for their protection in banks to be made the responsibility of the group chairman. The trouble is, it won't work.

James Moore: Women can succeed on trading floors – but toxic culture has to change, too

Wed, 19 Jun 2013 23:00:00 GMT

Outlook Could an infusion of women on to trading floors be the catalyst to reform the toxic culture that led to the Libor interest rate scandal, not to mention a string of others down the years? It's one of the more intriguing suggestions made by the Parliamentary Commission on Banking Standards, which wants banks to publish figures and fix any imbalance that is revealed.

Market Report: Springer sale puts focus on Informa

Wed, 19 Jun 2013 23:00:00 GMT

News of a €3bn (£2.6bn) takeover of a German publisher yesterday pushed punters towards Informa. The world's second-largest publisher of scientific research journals, Springer Science + Business Media, has been bought by the private equity firm BC Partners.

Hamish McRae: Right for the job in 1992 and 2003 – but maybe the wrong man in 2008

Wed, 19 Jun 2013 23:00:00 GMT

Luck matters in careers, and not just in the sense of coming into a job at a time when it is easy to be a success. It matters also in having appropriate skills and temperament to meet different challenges.

Hong Kong firm buys into London site

Wed, 19 Jun 2013 23:00:00 GMT

A historic Hong Kong hotel business is poised to make its first move into London after agreeing to spend £132.5m on a half-share of a new site near Hyde Park Corner.

Japanese exports rise to US and China as the currency tumbles

Wed, 19 Jun 2013 23:00:00 GMT

Japanese Prime Minister Shinzo Abe's "shock and awe" tactics to revive the world's third biggest economy paid off in May with the biggest rise in exports since 2010.

Record fine for rogue property trader

Wed, 19 Jun 2013 23:00:00 GMT

A financial salesman who arranged sale and rent-back deals and lied about property values has been fined nearly £1m by the Financial Conduct Authority for misleading customers. It is the largest ever fine for a sole trader.

Swiss bill to counter tax charges fails

Wed, 19 Jun 2013 23:00:00 GMT

The Swiss lower house of parliament has dealt a final death blow to a draft law aimed at protecting the country's banks from criminal charges in the United States for helping wealthy Americans to evade tax.

Mixed bag of results for JD Sports

Wed, 19 Jun 2013 23:00:00 GMT

While sales of trainers and tracksuits at JD Sports are sprinting along, the group's camping and other clothing stores have not quite broken out into a jog so far this year.

Price-cutting hits profits at H&M

Wed, 19 Jun 2013 23:00:00 GMT

Hennes & Mauritz has blamed poor weather and cash-strapped shoppers for a 4 per cent fall in sales in the first six months of the year.

AgustaWestland trial starts

Wed, 19 Jun 2013 23:00:00 GMT

Two former chief executives of Anglo-Italian helicopter maker AgustaWestland went on trial in Italy yesterday, accused of corruption over a €560m (£479m) deal to sell helicopters to India.

United Airlines 787 in latest setback

Wed, 19 Jun 2013 23:00:00 GMT

A month after Boeing's 787 Dreamliner returned to the skies after a four-month grounding, a United Airlines 787 flight from Denver to Tokyo has been diverted to Seattle due to an oil-filter problem.

Tell Sid: Public will be offered shares in Lloyds Bank

Wed, 19 Jun 2013 19:45:14 GMT

The prospect of an eventual “tell Sid”-style sale of shares in Lloyds Bank was raised by George Osborne as he claimed Britain’s economy had emerged from “intensive care”.

Tell Sid: Public will be offered shares in Lloyds

Wed, 19 Jun 2013 19:45:14 GMT

The prospect of an eventual “tell Sid”-style sale of shares in Lloyds Bank was raised by George Osborne as he claimed Britain’s economy had emerged from “intensive care”.

Margate residents appeal against giant new Tesco

Wed, 19 Jun 2013 18:44:58 GMT

Angry residents of Margate have appealed to the High Court against the Government’s decision to build a giant Tesco store on the seafront.

New banker bonus boom: Payouts leapt 64 per cent to new record when Chancellor George Osborne cut top-rate tax to 45p in April

Wed, 19 Jun 2013 18:29:18 GMT

Bankers’ bonuses soared to record levels in April as the Government’s cut in the top rate of income tax came into effect, new figures have revealed.

New banker bonus boom: Payouts leapt 64% to new record when George Osborne cut top-rate tax to 45p in April

Wed, 19 Jun 2013 18:29:18 GMT

Bankers’ bonuses soared to record levels in April as the Government’s cut in the top rate of income tax came into effect, new figures have revealed.

New banker bonus boom: Payouts leapt 64% to new record when Osborne cut top-rate tax to 45p in April

Wed, 19 Jun 2013 18:29:18 GMT

Bankers’ bonuses leapt to record levels in April as the Government’s cut in the top rate of income tax came into effect, new figures revealed today.