Principal content
Subprime lending problems escalate
Trading was halted in New Century Financial with the second-largest US subprime lender teetering on the edge of bankruptcy, sparking fresh fears about whether turmoil in the sector could spread.
Poll surge unsettles French socialists’ bid
Further blow to Royal’s faltering campaign
Market turbulence ‘unlikely to hit growth’
ECB chief seeks to calm market jitters
Related content and features
Moody in U-turn on bank ratings
Agency to review new methodology
Citigroup pressed to raise Nikko offer
Scandal-tainted broker not delisted
Concern over Halliburton move to Dubai
Congress could demand hearings
Akzo to sell drugs business for €11bn
ICI shares gain 5.4% on bid speculation
Strong showing for Putin allies in polls
Complaints of ‘imitation’ elections
Boots to hold out for higher offer price
Rejection of KKR bid seen as tactical
Swisscom offers €3.7bn for Fastweb
Bidding war could be triggered
Lex
Commercial property
Commercial real estate has benefited from excess liquidity, a favourable interest rate environment and strong economic growth, underpinning rents.
Comment
Arguments for private equity are not always convincing

Shareholder value increases when you change things and increases further when you change them back, writes John Kay.