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High inflation will persist longer in UK, Bailey warns CHRIS GILES — LONDON MARTIN ARNOLD — SINTRA COLBY SMITH — WASHINGTON Britain’s economy is suffering more from the energy crisis than other countries, Andrew Bailey warned yesterday, as he and other central bank chiefs said the era of low inflation and interest rates had come to an end. As he acknowledged that UK inflation was likely to stay hi...

EY agrees to record $100mn fine over cheating by employees in ethics exam STEFANIA PALMA — WASHINGTON MICHAEL O’DWYER — LONDON Big Four auditing firm EY has agreed to a record $100mn settlement with the US securities regulator to resolve claims that dozens of its employees cheated on an ethics exam and that it misled investigators. The fine is the highest imposed by the US Securities and Exchange...

London: vexed in the City Cities, like footballers and bankers, set store by league tables. Top-ranked London, which leads several tables of global conurbations and is seldom outside the first three, frets that its position is under threat. Now an all-party parliamentary group committee has put together a plan for keeping London’s prime position. London’s heft as a global city is undoubtedly tenuo...

Revlon’s fall casts light on changing face of beauty An industry now shaped by independent brands and social media influencers moved too fast for the storied US company In Revlon’s 1980s heyday, supermodels Cindy Crawford and Claudia Schiffer appeared in television and magazine advertising that promised to make women “unforgettable” with the brand’s bright red lipsticks. Today, consumers scout out...

This is the first stage of a deadly reckoning with temperature SIMON KUPER Here in Madrid, I have just been through the longest, hottest heatwave of my life. For more than a week, temperatures hovered near or at 40C. (For comparison: Britain’s all-time highest temperature is 38.7C.) At night we’d sleep with the fans on and windows open, choosing street noise over suffocation. The city became less...

Notifications and the meaning of life BY  TIM HARFORD Switching to a new phone is easy enough these days. The  wheezing older model formed a huddle with the shiny oversized new thing, and within a few minutes had effected a near-complete digital handover. One exception was the notification settings. As they reset to the default, my new phone began to beep and buzz incessantly, like the s...