An information board shows the decline of the German DAX to a one-year low at the stock exchange in Frankfurt: Germany’s stock markets, among other international markets, have fallen into bear markets. Photograph:  Christoph Schmidt/EPA

It has been a torrid week for global stock markets. Indices everywhere have been pummelled and volatility has gone through the roof on foot of mountin(...)

Paddy Power rose by 19.5 per cent to €93 a share on foot of its announcement of a merger with UK betting exchange Betfair

European shares ended nearly two per cent lower yesterday after a volatile session, hit by a late drop in Syngenta after Monsanto dropped its offer (...)

A currency exchange booth in Istanbul, Turkey. Turkey is considered by many analysts to be a fragile emerging market, vulnerable to external shocks. Photograph: EPA

The rout in emerging-nation assets has spread, as stocks tumbled around the world and demand for havens spiked on intensifying concern that global gro(...)

JP Morgan Chase: one of the top five US banks that are moving ahead of their European rivals in global investment banking. Photograph: Stan Honda/AFP/Getty Images

US banks are moving ahead of their European rivals in global investment banking, taking advantage of strategic upheavals and concerns over capital to (...)

John Maynard Keynes is often quoted as saying: “When the facts change, I change my mind. What do you do, sir?” Photograph:  Picture Post/Getty Images

When I was much younger and editing an economics journal, I published an article by a distinguished professor – more distinguished, perhaps, for his p(...)

 Former British trader Tom Hayes  at Southwark Crown Court in London. He has been given a 14 year sentence for Libor rate rigging. Photograph: Facundo Arrizabalaga/EPA.

Former City trader Tom Hayes has been sentenced to 14 years in jail after become the first person to be convicted by a jury of rigging Libor. In a la(...)

 The US Consumer Financial Protection Bureau and Office of the Comptroller of the Currency each fined  Citigroup  $35 million. Photograph: Patrick T. Fallon/Bloomberg

Citigroup was ordered to pay $700 million (€640 million) to customers and fined $70 million over illegal practices related to the bank’s marketing of (...)

The exception: JPMorgan would have a current $12.5 billion capital shortfall as a result of the rules. Photograph: Stan Honda/AFP/Getty Images

The eight leading American banks will hold extra capital buffers totalling $200 billion under new Federal Reserve rules aimed at preventing a major fi(...)

The plan, to raise about €4 billion from listing a 40 per cent stake in Poste Italiane on the Milan stock exchange in October, is the main plank of prime minister Matteo Renzi’s stalled drive to sell off state assets. Photograph: Alberto Pizzoli

Italy will fire the starting gun on the flotation of its 153- year-old national post office in early August, kicking off a widely anticipated €12 bill(...)

A television screen shows Angela Merkel, Germany’s chancellor, speaking during a Greek bailout news report as a trader monitors financial data inside the Frankfurt Stock Exchange in Frankfurt, Germany, yesterday. Photographer: Martin Leissl/Bloomberg

The Iseq in Dublin soared by about 1.7 per cent as investors celebrated the Greek bailout deal and the avoidance of the country’s exit from the euro.(...)