http://www.ft.com/Financial TimesFedEx said it would cut executive salaries and freeze hiring in 2009 as it expects economic conditions to worsenhttp://us.ft.com/ftgateway/superpage.ft?news_id=fto1218200810264386642008-12-18T09:01:20.0000000-05:00PwC, 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 fundshttp://us.ft.com/ftgateway/superpage.ft?news_id=fto1218200808264486502008-12-18T08:11:42.0000000-05:00The 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 executivehttp://us.ft.com/ftgateway/superpage.ft?news_id=fto1218200807454686472008-12-18T07:31:38.0000000-05:00The airlines have put out a joint statement announcing that after detailed discussions they had not been able to proceed with what many had judged a bold gamble to accelerate consolidation in the global airline industryhttp://us.ft.com/ftgateway/superpage.ft?news_id=fto1218200802272386072008-12-18T02:16:05.0000000-05:00The South Korean memory chipmaker says slumping demand and excess capacity have caused semiconductor prices to plunge, pushing makers to reduce outputhttp://us.ft.com/ftgateway/superpage.ft?news_id=fto1218200812264186742008-12-18T00:05:37.0000000-05:00Falling sales and a profit-sapping surge in the yen have so far outpaced the automaker's efforts to lower costs, but it is set to chop dividends and shelve expansion planshttp://us.ft.com/ftgateway/superpage.ft?news_id=fto1217200822384786042008-12-17T22:25:46.0000000-05:00Analysts predict the Japanese carmaker will lose money in the last two quarters of its financial year, a stunning reversal from its position as the sector's most profitable operatorhttp://us.ft.com/ftgateway/superpage.ft?news_id=fto1217200822271786032008-12-17T22:12:13.0000000-05:00Politicians and regulators must appeal directly to institutional investors if they are to break the paralysis in the banking sector, the chief executive of Standard Chartered has warnedhttp://us.ft.com/ftgateway/superpage.ft?news_id=fto1217200820030885892008-12-17T19:54:22.0000000-05:00Chrysler said it would shut all 30 of its plants for at least a month in the latest sign of the growing travails of the US auto industryhttp://us.ft.com/ftgateway/superpage.ft?news_id=fto1217200819085485792008-12-17T19:46:36.0000000-05:00Constellation Energy opted for the risks of an independent future over the certainty of ownership by US billionaire Warren Buffett after agreeing to sell 50 per cent of its nuclear business to its biggest shareholder, EDF of France, for $4.5bn.http://us.ft.com/ftgateway/superpage.ft?news_id=fto1217200816450885442008-12-17T18:41:41.0000000-05:00The 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 losseshttp://us.ft.com/ftgateway/superpage.ft?news_id=fto1217200818511685732008-12-17T18:40:38.0000000-05:00Partners at Goldman Sachs are set to see their bonuses fall by up to 80% and the cash component of their year-end packages capped at $400,000, with the rest paid half in stock and half in optionshttp://us.ft.com/ftgateway/superpage.ft?news_id=fto1217200818511785752008-12-17T18:40:38.0000000-05:00Bernard Madoff, the New York broker accused of perpetrating an alleged $50bn fraud, was placed under home detention with electronic monitoring by a US judgehttp://us.ft.com/ftgateway/superpage.ft?news_id=fto1217200816032985392008-12-17T16:35:28.0000000-05:00Arsenal's future has again been thrown into chaos after the board ousted the longstanding director Lady Nina Bracewell-Smithhttp://us.ft.com/ftgateway/superpage.ft?news_id=fto1217200815202885272008-12-17T15:06:43.0000000-05:00Orange ruling raises prospect of legal challenges in other European countrieshttp://us.ft.com/ftgateway/superpage.ft?news_id=fto1217200815024185152008-12-17T14:50:53.0000000-05:00The struggling electronics company's move adds to a growing list of US companies that have retreated on pension promises as the slumping economy has put pressure on financeshttp://us.ft.com/ftgateway/superpage.ft?news_id=fto1217200814211084962008-12-17T14:48:08.0000000-05:00Fears that other banks may follow example over 'hybrid-capital' instrumentshttp://us.ft.com/ftgateway/superpage.ft?news_id=fto1217200814451285072008-12-17T14:30:20.0000000-05:00The two airlines are making significant reductions in the fuel surcharges imposed on passenger fares several months after the steep fall in crude oil prices began to lower their fuel costshttp://us.ft.com/ftgateway/superpage.ft?news_id=fto1217200812030084582008-12-17T11:49:46.0000000-05:00Morgan Stanley reported a fourth quarter loss of $2.2bn this morning, or $2.24 per share, leading to year-end totals of $1.8bn in profits and $1.54 in earnings per sharehttp://us.ft.com/ftgateway/superpage.ft?news_id=fto1217200810324984462008-12-17T09:01:48.0000000-05:00Competition Commission calls for airports operator should be broken up and three of its seven UK airports – Gatwick, Stansted and Edinburgh – to be soldhttp://us.ft.com/ftgateway/superpage.ft?news_id=fto1217200803513583932008-12-17T08:47:33.0000000-05:00The mining group plans to cut spending below this year's $5bn level as it reviews a number of projects and waits for commodity prices to reboundhttp://us.ft.com/ftgateway/superpage.ft?news_id=fto1217200804571484002008-12-17T04:44:25.0000000-05:00Commonwealth Bank of Australia and Merrill Lynch are embroiled in a public war of words after the Australian bank was forced to cancel a A$2bn share placement managed by Merrill when investors cried foul they had not been informed of a rise in bad debtshttp://us.ft.com/ftgateway/superpage.ft?news_id=fto1217200803082683872008-12-17T03:25:17.0000000-05:00In spite of massive production cuts, the Japanese carmaker's inventories are piling up due to a shrinking global demand for cars, prompting it to issue its third profit warning this yearhttp://us.ft.com/ftgateway/superpage.ft?news_id=fto1217200809571084412008-12-17T03:11:29.0000000-05:00Shares of India's fourth largest information technology company, Satyam Computer Services, plunged as angry investors dumped the stock over its aborted attempt to buy companies controlled by the chairman's familyhttp://us.ft.com/ftgateway/superpage.ft?news_id=fto1217200802512783862008-12-17T02:38:09.0000000-05:00A sale of Wizard Home Loans' Australia unit, whose purchase price could be less than A$100m would further consolidate the country's bank and non-bank lending marketshttp://us.ft.com/ftgateway/superpage.ft?news_id=fto1216200823210383832008-12-16T23:07:51.0000000-05:00The investment and corporate banking operations are to be combined in yet another attempt by the US financial conglomerate to break down barriers between its businesseshttp://us.ft.com/ftgateway/superpage.ft?news_id=fto1216200819142283592008-12-16T22:11:32.0000000-05:00Christopher Cox, the chairman of the Securities and Exchange Commission, has called for an investigation of his own agency, saying there were previous multiple failures to investigate allegations of wrongdoing by Bernard Madoffhttp://us.ft.com/ftgateway/superpage.ft?news_id=fto1216200822142783762008-12-16T21:59:57.0000000-05:00The conglomerate promises to make 'pretty aggressive' cost reductions, shedding at least $5bn in expenses in part through redundancies and lower material costshttp://us.ft.com/ftgateway/superpage.ft?news_id=fto1216200820443783692008-12-16T20:28:54.0000000-05:00Bernard Madoff left behind a trail of 'falsified' and 'unreliable' records, hampering efforts by investigators to unravel the mystery of the $50bn "Ponzi" scheme allegedly perpetrated by the New York broker, officials said http://us.ft.com/ftgateway/superpage.ft?news_id=fto1216200820022183642008-12-16T20:14:54.0000000-05:00Steve Jobs made an 11th-hour withdrawal from Apple's main event of the year, prompting concern about the chief executive's health and the readiness of the company's new productshttp://us.ft.com/ftgateway/superpage.ft?news_id=fto1216200819323983612008-12-16T19:19:55.0000000-05:00US prosecutors reach a significant milestone with Anurag Dikshit, co-founder of PartyGaming, in a decision which will be watched closely by the online gambling industryhttp://us.ft.com/ftgateway/superpage.ft?news_id=fto1216200819512183632008-12-16T18:12:20.0000000-05:00The private equity group's stock tumbled for the first time below the level of its 1994 flotation amid worries over a fall in the value of its investments and the level of group borrowingshttp://us.ft.com/ftgateway/superpage.ft?news_id=fto1216200816024883242008-12-16T15:49:54.0000000-05:00Eleven steel trading companies, including subsidiaries of ArcelorMittal and Klöckner, have been ordered to pay a total of €575m after France's competition watchdog ruled they had engaged in price-fixinghttp://us.ft.com/ftgateway/superpage.ft?news_id=fto1216200815270283062008-12-16T15:13:15.0000000-05:00English team suffer double blow as mobile phone company ends 12-year sponsorship and public funding falls short of expectationshttp://us.ft.com/ftgateway/superpage.ft?news_id=fto1216200815144783002008-12-16T15:01:30.0000000-05:00Goldman Sachs reported a loss of $2.12bn, or $4.97 a share, for the fourth quarter, its first quarterly loss since going public in 1999http://us.ft.com/ftgateway/superpage.ft?news_id=fto1216200809510882062008-12-16T09:43:00.0000000-05:00Volvo had more cancelled orders in Europe than new ones in October and November as customers continued to postpone their investment decisions due to the uncertain economic environmenthttp://us.ft.com/ftgateway/superpage.ft?news_id=fto1216200804085281552008-12-16T03:59:21.0000000-05:00The confectionery group appointed Andrew Bonfield, the former chief financial officer of Bristol-Myers Squibb, to replace Ken Hanna who retired in April as it confirmed full-year guidance and announced plans to sell its Australian operationhttp://us.ft.com/ftgateway/superpage.ft?news_id=fto1216200813143082572008-12-16T03:43:07.0000000-05:00The owner of the Comet and Darty chains halved its interim dividend payment amid 'very tough' trading conditions, but said its balance sheet remained strong with net cashhttp://us.ft.com/ftgateway/superpage.ft?news_id=fto1216200803443681542008-12-16T03:30:38.0000000-05:00The Australian-listed group has issued a warning and suspended dividend payments due to an 'unprecedented reduction' in sales and unspecified accounting adjustment due to foreign exchange hedginghttp://us.ft.com/ftgateway/superpage.ft?news_id=fto1216200801390581512008-12-16T01:24:51.0000000-05:00KKR is effectively transforming its ill-fated, publicly listed KKR Financial Holdings into a new asset management division with about $13 bn under management to be headed by William Sonnebornhttp://us.ft.com/ftgateway/superpage.ft?news_id=fto1215200820264381392008-12-15T20:14:46.0000000-05:00The 'feeder' funds that channelled money to Bernard Madoff charged their investors high fees that in some cases may have exceeded the elevated norms of the hedge fund industryhttp://us.ft.com/ftgateway/superpage.ft?news_id=fto1215200814392680472008-12-15T19:46:45.0000000-05:00Thousands of individuals who invested in two Legal & General funds that promised to keep their capital safe until 2011 have fallen victim to the collapse of Lehman Brothers. http://us.ft.com/ftgateway/superpage.ft?news_id=fto1215200819092881282008-12-15T18:57:57.0000000-05:00The chief City watchdog has written to life assurers asking them to test their ability to cope with a number of extreme scenarios, including a 40 per cent fall in equity marketshttp://us.ft.com/ftgateway/superpage.ft?news_id=fto1215200819093281292008-12-15T18:57:57.0000000-05:00The biggest shareholder in the UK-listed online gambling company has agreed to plead guilty to a charge relating to illegal web bettinghttp://us.ft.com/ftgateway/superpage.ft?news_id=fto1215200819093281302008-12-15T18:57:57.0000000-05:00Arun Sarin, the former head of Vodafone, has decided not to pursue the possibility of becoming the next chief executive of Yahoo, according to people close to the former chief executive of the UK-based mobile phone operatorhttp://us.ft.com/ftgateway/superpage.ft?news_id=fto1215200819093481322008-12-15T18:56:07.0000000-05:00Redundancy is a 'change designed to restore profitability' and involves slashing 18 per cent of jobs at Jefferies Group http://us.ft.com/ftgateway/superpage.ft?news_id=fto1215200817330180992008-12-15T17:21:23.0000000-05:00The fallout from Bernard Madoff's alleged $50bn fraud spread through the global financial system as more banks revealed exposures to his firm and the beleaguered hedge fund industry braced for withdrawals from worried clientshttp://us.ft.com/ftgateway/superpage.ft?news_id=fto1215200816512280952008-12-15T16:38:46.0000000-05:00Northern Trust, the Chicago-based bank, said that it would cut 450 jobs, or 4 per cent of its workforce to reduce costs and improve efficiency amid worsening economic conditionshttp://us.ft.com/ftgateway/superpage.ft?news_id=fto1215200808444679642008-12-15T08:31:53.0000000-05:00Australia's biggest homegrown investment bank has signed a memorandum of understanding with Hengtei Securities to form a joint venture in Chinahttp://us.ft.com/ftgateway/superpage.ft?news_id=fto1215200807391479582008-12-15T07:27:11.0000000-05:00The telecoms group criticised the government of Australia after it was excluded from the bidding for a national broadband network that will cost up to A$10bn to buildhttp://us.ft.com/ftgateway/superpage.ft?news_id=fto1215200806505479552008-12-15T06:39:01.0000000-05:00