Brian Lenihan, the Irish finance minister, in 2009. The two new institutions created from Anglo Irish will not be able to lend any more money. Photograph: Niall Carson/PA The Irish government today split up the troubled Anglo Irish Bank into two separate entities: a so-called bad bank and a one to manage deposits. Anglo, which [...]

There are changes at the top of both Barclays and HSBC Photograph: David Levene for the Guardian The appointment of Bob Diamond as the next chief executive of Barclays has been warmly welcomed in the City today. Diamond, who currently runs Barclays’ investment banking arm, will replace John Varley in March 2011. Analysts say his [...]

Waterstone’s was sold for £300m in 1998 but now may not feature in HMV’s market value. Photograph: Martin Godwin Tim Waterstone, the founder of the books chain that bears his name, is considering a £100m-plus bid to take the chain private if the parent company, HMV, fails to turn the business around by the new [...]

BP’s Deepwater Horizon disaster has left the firm vulnerable to takeover from cash-rich oil firms such as ExxonMobil. Photograph Dave Martin BP said today that it was a fortnight away from finally sealing the rogue well in the Gulf of Mexico – potentially triggering bids from rivals for a company whose market value has been [...]

Federal Reserve chairman Ben Bernanke led the US economy through most severe recession since the 1930s. Photograph: Toby Melville/Reuters 2.47pm: How was Lehman Brothers’ failure different from AIG, which was bailed out by the government? The question is asked by panel vice-chairman Bill Thomas. Bernanke says there was a “fundamental difference” – while Lehman lacked [...]