Stephen Whittaker was in charge of the £343m UK Growth Fund, which has fallen 52.4% over the past two years, compared with an average 31.2% fall among peer funds and a 30.5% drop in the FTSE All-Share index

The governing body of the publicly-funded broadcaster rejected proposals by Mark Thompson, director general of the BBC, for the development of a £68m network of local websites which commercial newspapers and radio stations say will ruin them

The head of one of Europe's biggest private equity groups painted a bleak picture for his industry, predicting substantial job cuts at buy-out firms, as they suffer heavy losses on many recent deals, sparking lawsuits with some investors

Canny private equity bosses are redefining their investment strategy to cope with turmoil in financial markets