Financial Times general
UK watchdog swoops on asset managers
Office visits are the most dramatic example yet of the regulator’s focus on ensuring that wholesale markets participants protect the interests of end users
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Energy watchdog warns JPMorgan
JPMorgan says it had been warned that Ferc ‘intends to recommend’ an enforcement action against the bank and ‘certain firm personnel’
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Reinhart and Rogoff publish errata
Original paper was widely cited as an argument for fiscal austerity in 2010 and the fight over their figures has become a proxy for broader battles about deficits
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Azevêdo targets next WTO talks in Bali
World Trade Organisation’s next head says success with even a modest agenda is vital to ‘instilling confidence that we can still negotiate’
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Coke acts to fend off obesity criticism
Beverage group releases four-part plan that includes clearer sugar-content labelling amid rising criticism of high calories in soft-drinks makers’ products
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Enron’s Skilling in deal to slash jail term
Skilling, 59, has spent the past six years in a low-security prison camp in Littleton, Colorado, outside Denver, and is scheduled for release in 2028
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Cameron takes aim at rise of Ukip
The pageant of the Queen’s annual appearance at Westminster signals the start of the last full parliamentary session before the 2015 election
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Universities trim US Treasuries holdings
Universities, which profited in recent years from the rally in Treasury prices, fear they could be caught flat-footed by a reversal of the Fed’s low interest-rate policy
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Fergie offers managerial lessons for many
Despite his success, Sir Alex never kidded himself that he knew everything – he always kept learning; for him, knowledge was power
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Man Utd announce Ferguson to retire
Britain’s most successful football manager will leave at the end of this season after declaring that he was ready for further challenges
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Putin’s ‘architect’ quits government
Deputy prime minister Vladislav Surkov becomes the third leading cabinet official in Medvedev’s year-old government to stand down
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Shares hold highs after China data
The FTSE All-World index rises to its highest level since June 2008, following recent upbeat figures from the US, China and Germany
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Ex-Murdoch man joins rival Virgin Media
The new boss will report to the chief executive of John Malone’s Liberty Global, which is in the process of acquiring Virgin Media
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China trade growth raises data concerns
Growth in exports and imports in April will stir fresh questions about the reliability of Chinese data as neighbours see a fall-off in export growth
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Cameron promises to ‘fire up private sector’
Prime minister pledges to back hardworking Britons with a legislative agenda that includes bills on growth, immigration and pensions
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UN warns of rising youth unemployment
UN says crisis is worse than data suggest as figures show that third or more of young jobseekers have been unemployed for at least six months
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South Korea woes hold back StanChart
Bank’s unbroken decade-long record of annual profit growth may be running out of steam, as it signals ‘weaker performance’ in core markets
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Toyota forecasts 40% profit rise
Carmaker predicts a further rise this financial year after weak yen and relentless cost-cutting helped net income more than triple last year
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King insists he plans to stay at Sainsbury
Chief insists he will be round for a ‘few more years’ as supermarkets group profit drops and it confirms £248m deal to take full control of bank arm
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Russia and US agree to Syria conference
The Obama administration will regard the announcement of the conference as a breakthrough, but could struggle to convince both sides to attend
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The Bottom Line:If Mr Cable has his way...
"If Mr Cable had his way, all the big banks would be broken up and bonuses would be virtually eliminated - a sure-fire way in my view of guaranteeing an end to the UK’s ability to compete as an international financial centre. Let’s not forget that this is a man who is on record as saying that everyone who works in a bank has an ‘aristocratic lifestyle’ clearly demonstrating his lack of understanding of the sector." A tough line on bankers’ bonuses could make a brain drain of financial talent a distinct possibility, warns Paul Marsden. Read more