Espirito Santo plunged 11 per cent to 39.6 cents, its lowest price since June 2012. Photograph: Mario Proenca/Bloomberg

Markets went into retreat yesterday on renewed fears about Portugal’s Banco Espirito Santo and comments from Federal Reserve chairwoman Janet Yellen (...)

Fed chairwoman Janet Yellen sent a strong signal that it would wait to raise interest rates even if asset bubbles started emerging across the economy.  Photograph: Pete Marovich/Bloomberg
US unemployment rate drops

The US economy added 288,000 jobs in June, while the unemployment rate dropped to 6.1 per cent, offering evidence of steady improvement in the US labo(...)

US Federal Reserve Chair Janet Yellen (l), International Monetary Fund (IMF) Managing Director Christine Lagarde, and former IMF Director Michel Camdessus walk onstage before their remarks at the inaugural Michel Camdessus Central Banking lecture in Washington today. Photograph: Gary Cameron/Reuters

Federal Reserve Chair Janet Yellen said there is no need to change current monetary policy to address financial stability concerns although she sees “(...)

Japan’s Nikkei share average rose to a one-week high as upbeat China factory reports offset some weak spots in the Bank of Japan tankan survey. The  Nikkei ended up 1.1 per cent at 15,326.20. Photograph: Yuya Shino/Reuters

Asian shares held near three-year highs overnight on upbeat Chinese manufacturing data and expectations that US monetary policy will stay loose for s(...)

Planet Business

Image of the week: Inclusive capitalism Hurray for the City of London Corporation and investment firm EL Rothschild, which this week gathered s(...)

German’s Angela Merkel claims accolade for fourth year in a row: Photograph: Christoph Schmidt/EPA

Forbes magazine has ranked Germany’s Angela Merkel the most powerful woman in the world for the fourth year in a row in the annual list dominated by p(...)

Image of the week: Brussels blues Britain has been threatening to leave the European Union more or less since it joined it and this week the anti(...)

Janet Yellen, chair of the U.S. Federal Reserve, speaks during a Joint Economic Committee hearing in Washington yesterday. Photograph: Andrew Harrer/Bloomberg

The US housing market slowdown poses a fresh risk to growth in the world’s largest economy, Federal Reserve chairwoman Janet Yellen has warned in test(...)

Fiat shares tumbled the most since August 2011

European stocks were little changed yesterday as disappointing earnings from Fiat to Société Générale offset a rally in Crédit Agricole after its prof(...)

Janet Yellen, chair of the US Federal Reserve, attends the International Monetary and Financial Committee (IMFC) meeting at the International Monetary Fund and World Bank Group Spring Meetings in Washington earlier this month. Photographer: Andrew Harrer/Bloomberg

The Federal Reserve is expected to cut its bond-buying program by a further $10 billion today, confident that the US economy will pull away from its s(...)