Days of speculation ended as Merrill Lynch chairman and chief executive finally steps down. By Andrew Clark in New York.

  Europe's largest bank warns investors it could face further write-downs of assets because of the sub-prime mortgage crisis. By David Gow.

  Sterling hit a new 26-year high against the US dollar today after hopes of an early cut in UK interest rates faded. By Katie Allen and Angela Balakrishnan.

  Julia Finch: The battle for Resolution, not so long ago regarded as one of the stock market's dullest businesses, is turning into a splendid slanging match.

  Closing market report: Mining group Vedanta Resources came down to earth with a bump today after yesterday's near 4% rise. By Nick Fletcher.

  Vodafone to launch Lebara Mobile on Wednesday, a new SIM-only phone service targeting the country's burgeoning immigrant population. By Richard Wray.

  Leader: The housing market is in for its rockiest period for years, and the long-standing belief that prices can only go up is bound for the dustbin.

  Northern Rock chief executive Adam Applegarth has quit as non-executive director of housebuilder Persimmon to spend more time at the ailing bank. By Phillip Inman.

  Price jumps again on falling dollar and Mexican production problems. By Angela Balakrishnan.

  As the gender gap closes, targeting a hitherto ignored clientele is very big business. By Antoinette Odoi.

  Deal designed to avoid upping price of company. By Marianne Barriaux.

  UK water company sold by the Bahrain-based Arcapita Bank to the infrastructure fund Alinda Capital Partners. By Mark Milner.

  Northern Ireland's attempt to move from a public sector-dominated economy into one driven by private hi-tech companies suffers a shattering setback.

  Half a dozen companies are still in the race to buy two of Britain's most prestigious car marques. By Mark Milner.