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Gulf investors won't budge on Barclays rescue

Barclays risks derailing its £7bn Middle Eastern fund-raising if it tries to water down the terms of the deal to placate angry City investors. Sources in the Gulf states said yesterday that the Qatar Investment Authority and the Abu Dhabi royal family won't countenance any change to the cash call. Both the QIA and Sheikh Mansour bin Zayed Al Nahyan are said to be extremely happy with the deal as is.

Yahoo faces up to life after Jerry

After a turnaround plan that never got off the ground, falling profits and a disastrous reaction to his rejection of Microsoft's advances, Yahoo chief executive and founder Jerry Yang has fallen on his sword after 18 months at the helm.

The mission impossible to keep HBOS independent

Victory for the Scottish National Party (SNP) at the Glenrothes by-election was to have been the springboard for two fiercely patriotic Scottish grandees, Sir George Mathewson, formerly the chief executive at Royal Bank of Scotland, and Sir Peter Burt, who filled the same role at Bank of Scotland in the 1990s, to begin their campaign to wrestle Halifax Bank of Scotland (HBOS) from the clutches of Lloyds TSB.

Rock makes Damascene conversion on repossessions

Northern Rock has undergone a Damascene conversion over its treatment of mortgage customers in arrears, a debt charity has said.

Murdoch attacks newspaper doomsayers

Rupert Murdoch tore into the "doom and gloomers" predicting the demise of newspapers yesterday, backing the industry to hit new heights this century, but admitted this involved "moving beyond dead trees".

140 UK jobs go as Rolls-Royce wields axe

Rolls-Royce plans to cut up to 2,000 jobs worldwide, including 140 in the UK, after reviewing the impact of the current economic "uncertainties", the aerospace giant announced today.

David Prosser: Deflation is scary. So too is a policymaker in a blind panic

Outlook Here's a thought about the terrifying spectre of deflation now looming large if the much bigger than expected fall in inflation seen last month is a taste of things to come. It may not be so terrifying.

The end of Woolies?

Ardeshir Naghshineh, the commercial property investor who owns a 10 per cent stake in Woolworths, is thought to be in talks with another entrepreneur to make a joint bid to buy the high-street chain.

Sharp fall in inflation as food and petrol prices dive

The rate of inflation in Britain fell further than expected in October as the sharp drop in the price of petrol and food helped push the consumer prices index back towards its target level.

David Prosser: Careless talk costs lives, or banks at least

Outlook The Financial Services Authority has now set out the results of an investigation into market rumours – those nasty, and often untrue, little bits of gossip that have destabilised our leading banks this year. The watchdog has spent much of the past six months asking a wide range of City companies for their policies on rumour-spreading. But fear not: businesses from stockbrokers to hedge funds say they have strict rules in place on such naughtiness. And while the FSA has uncovered a few instances of gossiping that might have caused difficulties, it stamped on them quickly and has warned the rumour-mongers about being naive.

Former B&B chief 'massively sorry'for demise of lender

The boss of Bradford & Bingley issued a public apology yesterday as he told a Commons Treasury Select Committee hearing that nationalisation had been the only option after a run on his bank. The former Bradford & Bingley chairman Rod Kent apologised for his management's role in the lender's demise and said the bank's board "accepts it is fully accountable for what happened" and was "massively sorry".

EasyJet reports sharp fall in profits

Budget airline easyJet PLC reported a 45 per cent drop in full-year profits today as higher fuel costs offset a strong gain in revenue.

Leaders united by desire to avoid repeat of credit crisis

The leaders of the G20 most powerful nations gathered in Washington last night to plan a new era of international co-operation aimed at preventing a repeat of the financial crisis that has engulfed the global economy.

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