David Scott, chief executive of 3Par, at the company’s headquarters in Fremont, California Photograph: Robert Galbraith/REUTERS The British boss of a little-known Silicon Valley data storage company, 3Par, is set to become one of the UK’s wealthiest technology moguls, scooping a personal fortune of m (£65m) following a bid battle for the loss-making business between [...]

Federal Reserve chairman Ben Bernanke led the US economy through most severe recession since the 1930s. Photograph: Toby Melville/Reuters 4.32pm: Bernanke on toxic mortgages interacting with the US economy: “The e.coli got into the food supply and that caused a much bigger problem.” 4.29pm: “A lot of the Wall Street guys are like greased pigs [...]

New Look store in Oxford Street, London, the fashion retailer is among several businesses that have cancelled their flotation plans. An array of rumoured flotations that were delayed during the financial crisis but tipped for revival this autumn have been shelved again on fears about the state of the capital markets. The series of U-turns [...]

Candover Investments has announced plans to wind itself up. Among the assets the private equity firm will be selling is Ferretti, the Italian luxury yacht group. Candover Investments today became the latest high-profile victim of the financial crisis, as the private equity firm announced plans to wind itself up, selling its remaining assets and returning [...]

VAT is charged on newspapers in France and much of the EU. Photograph: Frédérique Jouval/Corbis David Smith, the excellent economics commentator of the Sunday Times, is on dangerous ground as he praises an OECD report on a Britain full of “good ideas”, including “the widening...