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Former Lula aide held in Petrobras probe

©Getty Brazilian prosecutors on Monday alleged that José Dirceu, a former chief-of-staff to ex-President Luiz Inácio Lula da Silva, was one of the masterminds of a massive corruption scheme at state-owned oil company Petrobras. Prosecutors…


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Lending crackdown threatens refinancing

©Bloomberg Highly indebted companies could struggle to refinance their debts as a result of the US crackdown on risky bank lending, according to a new report from Moody’s that warns of the “unintended consequences” of…


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UK to extend air strikes against IS

The Tornados are based at RAF Akrotiri in Cyprus The UK is to extend air strikes by RAF Tornados against the Islamic State group by an extra year, to March 2017, the defence secretary has…


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China concerns bring Apple down to earth

©Getty Apple’s share price took a 2.5 per cent hit on growing investor concerns about its growth in China, in a glum Monday for tech stocks that also saw Twitter fall to a new low….


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Industrialist pulls out of buying Tata plant

©Reuters An Anglo-American industrialist has walked away from buying one of the UK’s biggest steel plants, saying that its 6,000 workers were “being led to the slaughterhouse” by the government’s failure to address high energy…


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Pimco’s Total Return ETF probed by SEC

©Bloomberg Pimco, the asset manager struggling with outflows, is under investigation by the Securities and Exchange Commission over how it valued securities and whether it misled investors. Pimco disclosed on Monday that it had received…


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UK 'has a grip on migrant crisis'

The UK has “got a grip” on the migrant crisis in Calais, Foreign Secretary Philip Hammond has said, as he confirmed 100 more guards would be deployed in its Eurotunnel terminal. Mr Hammond was speaking…


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SFO probes Soma payments to Mogadishu

©Charlie Bibby/FT Soma chairman Michael Howard The UK Serious Fraud Office is examining payments made by a UK-based oil explorer to the government of war-ravaged Somalia as part of a criminal investigation into alleged corruption,…


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EU unimpressed by UK migrant complaints

©AFP British complaints over a few thousand people in Calais trying to cross its borders find few sympathetic ears around Europe, with some EU members having to deal with 10 times the number of asylum…


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Shale gas is loser in Obama climate plan

©AP US shale gas is the unexpected loser from President Barack Obama’s climate plan, as the White House abandons its previous enthusiasm for natural gas as a cleaner alternative to coal. Last year Mr Obama…