Bernard Madoff, the New York broker accused of perpetrating an alleged $50bn fraud, was placed under home detention with electronic monitoring by a US judge
The fund believed to be the biggest single loser in Bernard Madoff's alleged $50bn "Ponzi" scheme is considering suing PwC, its own accountants, for failing to detect the fraud, as victims start looking for deep-pocketed sources of compensation for their losses
Sterling falls to record low against euro after minutes of Bank of England's December meeting excite speculation that it will cut rates aggressively in January
People lined up to entrust their savings to Bernie Madoff. Many got a tip from a friend or adviser about a Wall Street operator with a great record. No one thought he was operating a Ponzi scheme but plenty thought he had an unfair advantage, writes John Gapper
The process by which the astonishing changes of the past 30 years have occurred owes as much to accident and experiment as to grand design, writes David Pilling
The fitness industry does not appear to be in robust health. Clubs will have limited room for manoeuvre in a serious sales downturn, writes Jonathan Guthrie
Motorola is cutting 3,000 jobs and delaying the spin-off of its loss-making mobile phone business after suffering a $397m loss in the third quarter amid a dramatic fall in handset sales
Motorola postponed plans to spin off its loss-making mobile phone business and admitted it would miss market forecasts for the fourth quarter after making a loss in the third quarter
The world's leading mobile phone makers are braced for a painful 2009 after warnings that sales of handsets could fall sharply for the first time in eight years
The White House said it was considering an "orderly" bankruptcy for the US's stricken auto companies in its clearest warning yet that General Motors or Chrysler could be forced to file for Chapter 11 protection or similar measures
PwC, KPMG and Ernst & Young, three of the 'big four' accountants, and an arm of BDO International, the fifth largest, were all auditors of the feeder funds which channelled money into Madoff funds
The property group has chosen a relatively unknown to replace Stephen Hester but shares rose as investors appeared to welcome the appointment of Chris Grigg, formerly of Barclays, as new chief executive
The pound dropped to a fresh record low against the euro, breaking through the £0.95 level for the first time, as the prospect of further interest rate cuts from the Bank of england continued to punish the currency.
Retailers were the focus of attention in European equity markets as French supermarket group Carrefour announced that it expected this year's earnings growth to fall short of expectations
