Deutsche’s belated fine shows it may not pay to come too quietly

Conclusion is fines may be a worthwhile price to pay to postpone punishment for original offence

Tesco’s ‘drastic’ Dave earns his nickname

With £7bn in impairments the CEO faces tall task to rebrand as fantastic

Chipmaker generates strong numbers

Arm’s chips gain an apparent pricing advantage over rivals

Petrofac North Sea

Parties promise all bar more freedom

Perusal of the main parties’ manifestos shows no one is offering more liberty

Alliance Trust braces as rebels gather strength

Rebels are gaining support ahead of the annual meeting

11/03/10. JULIAN ROBERTS, CEO OF OLD MUTUAL PHOTOGRAPHED AT THEIR OFFICES ON THE BANKS OF THE RIVER THAMES, CENTRAL LONDON. CREDIT: DANIEL LYNCH. 07941 594 556.

Old Mutual’s mixed bag needs a tidy-up

South Africa-focused group should demerge or sell its UK wealth management business

Uncomfortable position of non-exec chairs

Non-executive character of chairing a financial institution is a polite fiction

The true cost of public sector pensions

Labour promised to reverse the rise in national debt

New world meets old terroir in wine deal

Majestic seeks to harvest new expertise by quaffing Naked Wines

Tills must ring to drown out Co-op rebels

Mutual faces test to fend off syntax seditionists in its ranks

BG’s Lund joins the footnote guys

The contrasting fates of chief executives of Shell and UK gas group

Indifference best riposte to non-dom bomb

Organised capital needs to pick its battles — and this doesn’t make the long list

Asos faces margin pressure

Group is operating in a tougher environment

Investors should question Pru pay

Incentives that routinely and reliably pay out fail to do their job

Labour unlikely to win FTSE 100 votes

Business manifesto launch felt like party was getting a chore out of the way

Fury over AIIB membership signifies little

Chancellor right to foster Anglo-Chinese relations

It’s time for the BBC to switch up a gear

Clarkson fiasco drives need for new figures on the board

Rampant dollar sparks Clarksonesque uncertainty

Effects of a rampageous dollar are complicated, and even damaging for UK businesses

RBS unit offers lesson in US Citizenship

Split with Citizens Financial shows how far sentiment has shifted since crisis

Front running has run out of time

Prison term for Julian Rifat a useful victory for FCA

ABOUT LOMBARD

Jonathan Guthrie Jonathan Guthrie is the City editor of the FT. He writes and edits Lombard, the column that dissects the big deals and bigger personalities dominating London’s financial centre. A popular read with senior City executives, Lombard blends analysis with humour. A veteran observer of British business, Jonathan has been an FT columnist since 2003, an FT staff member since 1993 and started as a capital markets writer in 1987. He tweets his take on City news just after 7am most weekday mornings.

E-mail Jonathan Guthrie

Alison Smith


Alison Smith is the FT's Chief Corporate Correspondent and has worked at the FT for more than 20 years. Her posts have included political correspondent, financial services correspondent, Lex writer, UK companies editor and, most recently, leader writer.

E-mail Alison Smith

Kate Burgess


Kate Burgess is the FT's Small Talk columnist and Small Companies Correspondent. She has worked at the FT for nearly 20 years in various roles, most recently as investment correspondent. Before the FT she worked as a stock broker.

E-mail Kate Burgess

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