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Euro hits record against the dollar

The euro hit $1.37 against the dollar for the first time on Monday after profit warnings in the US led to fears over the economy, particularly the housing market.
The single currency in early US trade was up 0.7 per cent at $1.3718 after Home Depot, the largest US home improvement retailer, cited the weak housing market for its profit warning.

Blackstone buys Hilton Hotels for $26bn

Blackstone on Tuesday bought Hilton Hotels Corporation for $26bn (£12.8bn), giving the private equity company the biggest hotel group in the world by number of properties.

Insider trading: increasing volumes

Investment banks have been too �complacent� about stopping price-sensitive information leaking into the market, the City regulator said on Monday as it warned that those without adequate controls could face hefty fines in future.

The FTSE fall

The FTSE fell on Wednesday as a disappointing trading update from Northern Rock added to concern about rising interest rates. The mortgage bank slumped 9.6 per cent to 855p as it slashed its profit forecasts, blaming a rise in funding costs following a series of rate rises.

UK inflation goes down to lowest in seven months

Headline inflation has now fallen by 0.6 of a percentage point from the recent peak of 3.1 per cent recorded in March - a level that required Mervyn King, Bank governor to write a letter of explanation to Gordon Brown.

Bank of England fears impact of buyout default

The Bank of England today added to the groundswell of criticism directed at the buyout industry by suggesting that a single major default of a private equity-backed company could spark a global economic downturn.