Japan’s Nikkei tumbles 5%, but eurozone economic confidence picks up – live

European firms are more optimistic, EC survey finds, after Tokyo stock market enters ‘correction’ territoryGraeme Wearden    
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Michael Woodford: the man who blew whistle on £1bn fraud

Former Olympus chief executive tells of risks he ran in exposing fraud scandal at the digital camera company”This is humbling. It’s a long way from a private jet,” Michael Woodford shouts out as he charges across five lanes of traffic and into the underground at Euston Square.In a previous life as the boss of one […]
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George Osborne is still in denial over his failing strategy

The IMF’s downgrade of its forecast for Britain shows how reckless it is for the chancellor to press on with austerityThere’s nothing like a long-haul flight to give you time to think. So with his mobile phone turned off flying back from the International Monetary Fund summit in Tokyo, I hope our chancellor has taken […]
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George Osborne’s austerity is costing UK an extra £76bn, says IMF

New analysis of figures throws doubt on chancellor’s forecastGeorge Osborne’s drastic deficit-cutting programme will have sucked £76bn more out of the economy than he expected by 2015, according to estimates from the International Monetary Fund of the price of austerity.Christine Lagarde, the IMF’s managing director, last week caused consternation among governments that have embarked on […]
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Treasury secretary Timothy Geithner tells IMF US still has work to do

A day after the US announces budget shortfall of more than $1tn, treasury secretary talks of need for balanced fiscal planDespite making progress on getting its fiscal house in order, the United States still has much work to do, treasury secretary Timothy Geithner told fellow financial leaders Saturday.The comment came just hours after the US […]
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Lord Turner: ‘UK banks could have recovered with a bigger bailout’

According to the outspoken FSA boss, under-capitalisation three years ago means the economy is still weak and flatlining – something the US has avoided because its banks were given a comprehensive bailout when the credit crisis first bitUK banks hit by the financial crisis needed bigger taxpayer bailouts to maintain lending and allow the economy […]
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Christine Lagarde: act bravely together to save world economy

Head of International Monetary Fund at Tokyo conference voices rest of world’s frustration with eurozone crisis dragging onThe head of the International Monetary Fund has called on governments to co-operate to heal a fractured global economy or risk a further slowdown in economic growth.Christine Lagarde warned that only with greater co-operation and courage could governments […]
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Conflict in the east, crisis in the eurozone. But all’s well at WH Smith

On the agenda this week: global problems shake society, but at least stationery sales are holding up wellFive years ago, nobody was accusing the International Monetary Fund of being even remotely relevant, but it’s amazing how a good old-fashioned crisis can justify one’s existence.The fund (it’s a bank really) is coining it in now countries […]
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UK green energy sector suffers double blow

Fuel cell developer Ceres Power may have to wind down or sell off the business and there are concerns about the future of a solar panel factory in WalesBritain’s nascent “green” business sector has hit trouble with a warning about the future of a pioneering fuel cell developer and of a solar panel factory in […]
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