Yellen expects US economy to strengthen

Fed chair points to rate rise this year if recovery continues

Pakistan cuts key discount rate to 7%

Larger-than-expected move aimed at spurring growth

Isis in position to advance on Damascus

Some locals cheer beheadings of informants and state officials

BoE mis-sends Brexit email to press

Officials confirm research into impact of EU departure

Amazon starts to book UK sales in Britain

Shift over Luxembourg deal brings revenues in reach of taxman

Banks face possible further forex fines

NY regulator turns to abuse of markets by automated trades

42 cartel members dead in Mexico shootout

Government claims a victory over Jalisco New Generation

Actress Cate Blanchett poses on the red carpet as she arrives for the screening of the film "Sicario" in competition at the 68th Cannes Film Festival in Cannes...Actress Cate Blanchett poses on the red carpet as she arrives for the screening of the film "Sicario" in competition at the 68th Cannes Film Festival in Cannes, southern France, May 19, 2015. REUTERS/Regis Duvignau

California farmers vow to cut water use

25% reduction will match that in drought-hit cities

Ingram Pinn slideshow

Florida’s Stonegate Bank embraces Cuba

US government urged bank to open account for communist nation

Isis rivals make bin Laden look soft

Light cast on fierce competition between jihadi groups

Co-founder of Blackstone’s GSO unit quits

Doug Ostrover’s retirement adds to fears of more senior exits

Comment and Analysis

Good times fade away for forex traders

After $10bn in fines, the industry decides it is time to grow up

Plight of Asia’s Rohingya refugees

Anti-Muslim violence in Myanmar forces thousands into camps or on to high seas

Michael and Yoel Zaoui
©Dan Burn-Forti

Interview: Michael and Yoel Zaoui on M&A

The brothers have advised on takeovers worth $152bn in two years

Best comments from our readers


"I think CDS desensitise lenders/arrangers to credit risk. It's like having a quickie divorce available after a drunken wedding in Las Vegas. Debt should be like a marriage with each party knowing it is to a large extent binding. Without the quickie "out" that CDS offer, credit risk would have been respected more and less credit would have been extended."
By Stuttgart88 on Credit derivatives deserve a revival but only if financiers grow up



"'Voters are, quite rationally, rather ignorant about politics.' Well, indeed. Which is why I always feel slightly uncomfortable when people accuse our representatives of being 'career politicians'. Since governing a developed country is a challenging job, who'd want an amateur politician?"
By Olaf von Rein on Why democratic elections are always flawed


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