Lagarde investigated by court

Christine Lagarde, the newly-elected head of the International Monetary Fund, is to face a judicial inquiry into whether she was wrong to approve a large out of court settlement to a controversial French businessman, Bernard Tapie. Tapie, a close supporter of president Nicolas Sarkozy, was paid €285m (£249m) from the French state in 2008 to settle a decade-long court battle with the bank Credit Lyonnais, but a court has ruled that Lagarde’s decision should be investigated over concerns that she ignored expert advice.