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The prime minister, who on Monday is to preside over a jobs summit, is to unveil a two-year plan to stop the recession creating an army of long-term unemployed |
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Dearth of interest from institutional shareholders in the two banks' secondary placings leaves the Treasury to take up 99% of the unsuscribed new shares |
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Mark Thompson called on the government to help his commercial rivals survive the slowdown so their content might encourage adoption of high-speed broadband |
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Jacob Zuma, the leader of South Africa's ruling party, will go into an election campaign in which he looks certain to win the presidency charged with corruption after a court reinstated the 16 counts against him |
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Ukraine has signed a fresh copy of a gas transit monitoring agreement and removed earlier conditions, Gazprom, Russia's state-owned gas giant, said in a statement |
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Citigroup is to reap a much-needed capital gain of up to $6bn, as well as a cash payment of $2.7bn if it clinches a deal to spin off its brokerage unit into a joint venture controlled by Morgan Stanley |
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The Indian government has appointed a new board to run Satyam while police have widened their investigation to include other Raju family-controlled companies. Satyam shares were up 54 per cent at Rs36.55 after trading as much as 68 per cent higher |
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A US investigation into potential violations of sanctions against Iran has expanded to involve nine European banks |
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Barack Obama expressed disappointment with the Bush administration's handling of the first $350bn tranche of the financial sector bail out and pledged greater support for struggling homeowners once he takes charge of it |
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The former PM is re-emerging as a possible choice for first full-time EU president as crises reinforce the argument for having a high-profile personality in the job |
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Cairo is arguing for a border monitoring, system, which could include Turkish troops, to end weapons smuggling into Gaza, in an effort to stop the Israeli offensive |
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Banks failed to pass on record cuts in interest rates last month to mortgage borrowers, but slashed interest due to savers, according to figures published by the Bank of England |
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The pound retreated on Monday, as traders took profits following a strong run last week and as Ireland accused the UK of engineering the sterling's recent slump. |
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The future of Land of Leather was in doubt on Monday after the retailer made a request for its shares to be suspended pending a statement |
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World's second largest car market had its worst year in a decade in 2008, with annual passenger car sales rising only 7.3%, according to the China Association of Automobile Manufacturers |
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Regulator proposes that companies could allow as little as 14 days, or 10 business days, for investors to decide to take up an offer of shares, rather than the current minimum of 21 days |
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The Foreign Office has reiterated advice that travellers to the US risk being turned back at US airports unless they have complied with new permit regulations |
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Abbott Laboratories, the US drug company, said it would buy Advanced Medical Optics, a maker of contact lens solutions, in a $2.8bn deal that will give it a fresh footing in the eye care industry |
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Bernard Madoff will remain free on bail, a federal magistrate judge ruled, as he denied prosecutors' request to jail him after he mailed more than $1m of jewelry to family and friends |
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George W. Bush bows out as US president in a final press conference. Regrets? There are a few. |
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The ratings agency said the country's triple A credit ratings could be downgraded because of its high private sector debt after it slipped into recession in the fourth quarter |
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After saying Italy's state-controlled Alitalia needed an exorcist, Air France-KLM has bought a 25 per cent stake from the airline's new private owners for €322m ($431m) |
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The UK-based European newspaper business, which has net debt of about €650m, is expected to sell its titles in Germany to one of that country's oldest publishers for €152m |
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The deal is one of the biggest deals since credit crunch took hold, indicating that the market for big mergers remains open in spite of the global economic downturn |
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George W. Bush agreed to ask Congress to release the remaining $350bn of a US financial rescue package, meeting a request from Barack Obama as the president-elect's team sought to quell opposition to the plan |
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Russian gas could begin flowing again to Europe as early as Tuesday morning, officials predicted, after Russia and Ukraine moved to contain their dispute |
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Wm Morrison underscored its buoyant trading position by unveiling plans to create 5,000 new retailing jobs to add to its overall headcount of 117,000 in the coming year |
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Supermarket reports a sales increase of a quarter during the last year as it bucks the trend during the global economic downturn |
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David Cameron intends to reduce the House of Commons by 10 per cent, in a plan to redraw the parliamentary map that could make it easier for the Tories to win elections |
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Search for much-needed underwriting funds among private investors |
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Sliding raw material and capital project costs provide breather for companies hit by dropping commodity price |
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Researchers have found a strong statistical link between the profitability of male traders at a London bank and the ratio of index to ring fingers on their right hand |
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European rules on investment funds need an overhaul in the wake of the $50bn alleged fraud by Bernard Madoff to restore investor confidence, the French finance minister urged |
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As Land of Leather became the latest retailer forced to enter administration, the British Retail Consortium said the value of sales fell 3.3 per cent on a like-for-like basis |
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Shares in Sony fell by 8 per cent in Tokyo trading following local media reports that it will make a Y100bn operating loss in the year to March 2009 |
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Supermarkets group confirms its place towards the bottom end of the league table for UK food retailers over the Christmas period, reporting a 2.5% increase in UK like-for-like sales |
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Israel is extending its 18-day campaign into built-up areas of Gaza City after sending thousands of reserve soldiers into the Hamas-controlled territory and signalling a further escalation of its offensive against the Islamist group
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The housebuilder cut the number of houses it built and reduced headcount as it tackled the downturn in the housing market but warned further writedowns may be required on its landbank if conditions deteriorate further |
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The government-controlled bank is hoping to raise as much as $2.6bn from the sale its 4.3 per cent stake in Bank of China after the market closes in Hong Kong |
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A multi-billion pound package of measures to boost credit to small and mid-sized companies is being drawn up by ministers could be announced as early as Wednesday. |
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The UK trade deficit rose in November as exports of goods fell sharply, in a sign that the rapid depreciation of the pound over the autumn has not translated into higher exports |
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The risk of serious fiscal crises in developed countries has 'doubled if not tripled', threatening countries such as the US, UK, France, Italy, Spain and Australia, the World Economic Forum said |
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Ben Bernanke, the US Federal Reserve chairman, said that more capital injections and guarantees to financial institutions could be needed to ensure economic stability and to rehabilitate the credit markets |
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Germany will amend its constitution to ban excessive public borrowing and set up a strict repayment schedule for the public deficit caused by its latest fiscal stimuli, chancellor Angela Merkel said |
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Ireland's leading drugs group, which has seen its shares tumble by two-thirds over the past six months, said alternatives for its future could include a minority investment or strategic alliance, a merger or a sale |
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Hillary Clinton has set out her plans to adopt hard-headed multilateralist diplomacy, in which the US will work closely with Russia and China while seeking to strengthen existing alliances and international institutions |
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Citigroup is to break up its 10-year old "universal banking" business model by separating large parts of its troubled investment bank and US consumer finance businesses from its global commercial banking business in a dramatic attempt to ensure its survival |
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Investment banking and money management likely to suffer as the UK bank cuts cost to cope with fallout from the credit crisis |
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A top Democrat warned banks that they must re-lend any fresh funds received from the federal government, as Congress prepared to consider a request for the remaining $350bn of bail out money. |
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The European aerospace group said it had walked away from a "significant acquisition" in the US defence market as it made cash conservation its top priority during the coming year |
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When Barack Obama takes the US presidential oath on January 20, he will draw vast audiences normally associated with American football's biggest event, the Super Bowl. Viewers should prepare for a commercial onslaught |
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Yahoo has chosen software veteran Carol Bartz as its new chief executive, an appointment viewed by Wall Street as safe but unspectacular. |
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Taxpayers will commit to guaranteeing up to £21bn of bank lending for small and medium-sized businesses until 2011, under plans by Lord Mandelson – business gave a guarded welcome to the move |
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The bitter dispute between Russia and Ukraine descended into near-chaos as pledges to restart supplies fully were broken and Moscow suggested that the US had meddled in the affair |
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Banks are cutting back on the unused credit facilities of large UK companies, a survey has revealed in the latest sign of how the credit crisis is hitting UK plc |
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Hopes are fading for full compensation for members of Equitable Life when the government delivers its long-awaited response to a damning report from the parliamentary ombudsman |
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Mervyn Davies, chairman of Standard Chartered, is leaving the emerging markets bank after 15 years in order to become a trade minister in the British government |
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More than half the profits from some of the UK's biggest recent private equity deals were generated by high levels of debt, according to a report compiled by the BVCA |
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The list hedge fund said redemptions and deleveraging had led to a $14.3bn fall in funds under management in the final three months of last year |
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Shares in the sports retailer dropped 22% after it warned it would suffer a loss in its current financial year of £5m-£10m amid 'extremely difficult trading conditions' |
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Germany's largest bank has revealed its first annual loss in five decades after a fourth quarter in which it lost €4.8bn |
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The Irish government has told trade unions that without agreement on public sector pay cuts, it may have to go to the International Monetary Fund for help. |
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The European Commission is threatening legal action against Russia and Ukraine if they do not restore gas flows to Europe in a sign of mounting frustration at a crisis that has left thousands without fuel |
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Britain's third biggest bank, is to slash a further 2,100 UK jobs in its retail and commercial banking division – on top of the 2,500 cuts it has announced during the past fortnight |
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The chairman of Rio Tinto is preparing to announce his retirement from the board of the mining group to succeed Peter Sutherland, chairman of BP |
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London equities fell further on Wednesday, extending the market's losing streak into the sixth-consecutive session after news of falling assets under management at Man Group and concern about HSBC's capital position spooked financial stocks |
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A row over the venue for an Arab summit to discuss Israel's offensive on Gaza is threatening to deepen Arab divisions and to complicate Egyptian efforts to secure a ceasefire |
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The euro fell sharply against the dollar after S&P cut its rating – the first downgrade of a western European economy since the credit crisis erupted – because of the country's high levels of public and private debt. |
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China has overtaken Germany to become the world's third largest economy in 2007 after the Chinese authorities revised upwards the figures for growth during that year |
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The Canadian telecommunications equipment maker has filed for bankruptcy protection a day before $107m in interest payment was due |
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Jaguar Land Rover is cutting 450 white-collar jobs in its UK operation, as the economic downturn continues to hit sales at the Indian-owned manufacturer |
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A flagship artwork - designed to demolish national stereotypes by mocking them - caused diplomatic outrage after it turned out to have been the work on a single Czech artist when it was billed as a collaborative effort from all 27 EU member states |
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Jamie Dimon, JPMorgan Chase's chief executive, predicted the US economy and financial sector would worsen in 2009 as hard-hit consumers default on credit cards and other loans and unemployment continues to rise |
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Middle managers at Toyota Motor have a new plan to revive sales and morale at the flagging car company: between now and March, 2,200 will be exhorted to buy a new vehicle |
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Steve Jobs said he was stepping down as Apple chief executive for six months after learning his health problems were more complex than he originally thought |
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Investors pulled close to a net $150bn from hedge funds last month in spite of moves by dozens of funds to halt or suspend redemptions |
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A second federal judge ruled that Bernard Madoff can stay out of jail as he awaits trial, rejecting prosecutors' latest bid to revoke his bail |
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As Egypt stepped up peace efforts, Europe halted plans to upgrade ties with Israel, in an international backlash against the Gaza assault that has left more than 1,000 Palestinians dead |
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Lord Carter will propose a 'universal service commitment' – akin to the guarantee on postal services and telephones, according to a draft of his report, Digital Britain |
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People who lost in the life insurance company's near-collapse are to receive taxpayer compensation, but they face delays and stand no chance of receiving the total of £5bn that some are claiming |
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Geoff Hoon will give an official stamp of approval on Thursday to plans for a third runway at Heathrow airport, despite a hard-fought campaign against the project by environmentalists and many MPs |
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The US banking sector is being shaken by deepening concerns over Citigroup's financial health and the revelation that Bank of America is counting on a new multibillion-dollar capital injection from the government |
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Bleak economic data globally and a deepening banking crisis in the United States knocked Asian shares to a five-week low while safe-haven government bonds benefited from renewed market jitters |
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HMV will pay almost £20m to become the part owner of 11 live music venues in the UK, funding its venture with an equity placement. The music and books retailer is paying for the investment through a £25m share placing completed on Thursday |
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The OFT said it would recommend 'significant' relaxation of the contract rights renewal rules that govern how much the struggling commercial broadcaster can charge advertisers |
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The electrical retailer reported a sharp fall in sales across Europe in the last three months of the year. At its Dixons and PC World stores in the UK like-for-like sales were down 12 per cent and comparable sales fell 11 per cent in Spain |
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President Barack Obama signalled a decisive break with the Bush years, vowing a "new era of responsibility" in which he would rebuild the economy and restore America's standing in the world |
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The broadcast regulator recommends a tie-up between Channel 4 and BBC Worldwide or RTL-owned Five to ensure the survival of the struggling public sector broadcaster in a 130-page report |
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London equities continued to fall with banking stocks under yet more pressure as fears about the health of the sector spread around the world. Barclays and Lloyds notched up further double-digit falls |
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The world's biggest mining group,underlined the pain being felt by the industry when it said its would axe 6,000 employees and close a nickel mine in Western Australia |
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Funding difficulties for UK companies are being made worse by a sharp reduction in lending to British banks by overseas institutions |
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The Bank of England will start to buy corporate bonds in large quantities, Mervyn King, governor, said, explaining the next steps to be taken to limit the severity of the recession |
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Sterling continued to tumble on currency markets as it buckled under investor concerns over the dismal state of the UK financial sector |
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Sir Howard Stringer, chief executive of Sony electronics group, is facing resistance over plans to restructure the company and cut 16,000 jobs |
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Chrysler declared its new alliance with Fiat would enhance its long-term viability in an apparent bid by the Detroit carmaker to strengthen its case for billions of extra dollars in US government aid |
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United Nations secretary-general Ban Ki-moon said he was promoting the idea of a third party – perhaps the European Union or Turkey – to police the border crossing |
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Daily Mail & General Trust is close to selling the London Evening Standard to the Russian oligarch and former KGB officer Alexander Lebedev, for a nominal £1 |
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The UK's second largest building society and the banking business of the mutually owned Co-operative group said the deal would form a bank with assets of £70bn and more than 9m customers |
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The world's largest telecoms equipment manufacturer is shedding another 5,000 jobs despite reporting better than expected results for the fourth quarter of the year |
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Unemployment continued to soar in the final months of last year with the number of jobless climbing to 1.92m in three months to the end of November - the highest level since 1997 the year Labour came to power |
|
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London equities continued to fall with banking stocks under yet more pressure as fears about the health of the sector spread around the world. Barclays and Lloyds notched up further double-digit falls |
|
|
|
President Barack Obama signalled a decisive break with the Bush years, vowing a "new era of responsibility" in which he would rebuild the economy and restore America's standing in the world |
|
|
|
The broadcast regulator recommends a tie-up between Channel 4 and BBC Worldwide or RTL-owned Five to ensure the survival of the struggling public sector broadcaster in a 130-page report |
|
|
|
The world's biggest mining group,underlined the pain being felt by the industry when it said its would axe 6,000 employees and close a nickel mine in Western Australia |
|
|
|
Daily Mail & General Trust is close to selling the London Evening Standard to the Russian oligarch and former KGB officer Alexander Lebedev, for a nominal £1 |
|
|
|
The UK's second largest building society and the banking business of the mutually owned Co-operative group said the deal would form a bank with assets of £70bn and more than 9m customers |
|
|
|
Sir Howard Stringer, chief executive of Sony electronics group, is facing resistance over plans to restructure the company and cut 16,000 jobs |
|
|
|
Funding difficulties for UK companies are being made worse by a sharp reduction in lending to British banks by overseas institutions |
|
|
|
The world's largest telecoms equipment manufacturer is shedding another 5,000 jobs despite reporting better than expected results for the fourth quarter of the year |
|
|
|
Unemployment continued to soar in the final months of last year with the number of jobless climbing to 1.92m in three months to the end of November - the highest level since 1997 the year Labour came to power |
|
|
|
London equities continued to fall with banking stocks under yet more pressure as fears about the health of the sector spread around the world. Barclays and Lloyds notched up further double-digit falls |
|
|
|
President Barack Obama signalled a decisive break with the Bush years, vowing a "new era of responsibility" in which he would rebuild the economy and restore America's standing in the world |
|
|
|
The broadcast regulator recommends a tie-up between Channel 4 and BBC Worldwide or RTL-owned Five to ensure the survival of the struggling public sector broadcaster in a 130-page report |
|
|
|
The world's biggest mining group,underlined the pain being felt by the industry when it said its would axe 6,000 employees and close a nickel mine in Western Australia |
|
|
|
Daily Mail & General Trust is close to selling the London Evening Standard to the Russian oligarch and former KGB officer Alexander Lebedev, for a nominal £1 |
|
|
|
The UK's second largest building society and the banking business of the mutually owned Co-operative group said the deal would form a bank with assets of £70bn and more than 9m customers |
|
|
|
Sir Howard Stringer, chief executive of Sony electronics group, is facing resistance over plans to restructure the company and cut 16,000 jobs |
|
|
|
Funding difficulties for UK companies are being made worse by a sharp reduction in lending to British banks by overseas institutions |
|
|
|
The world's largest telecoms equipment manufacturer is shedding another 5,000 jobs despite reporting better than expected results for the fourth quarter of the year |
|
|
|
Unemployment continued to soar in the final months of last year with the number of jobless climbing to 1.92m in three months to the end of November - the highest level since 1997 the year Labour came to power |
|
|
|
London equities continued to fall with banking stocks under yet more pressure as fears about the health of the sector spread around the world. Barclays and Lloyds notched up further double-digit falls |
|
|
|
Hours after taking office, US President Barack Obama ordered military prosecutors in the Guantanamo war crimes tribunals to ask for a 120-day halt in all pending cases |
|
|
|
The broadcast regulator recommends a tie-up between Channel 4 and BBC Worldwide or RTL-owned Five to ensure the survival of the struggling public sector broadcaster in a 130-page report |
|
|
|
The world's biggest mining group,underlined the pain being felt by the industry when it said its would axe 6,000 employees and close a nickel mine in Western Australia |
|
|
|
Daily Mail & General Trust is close to selling the London Evening Standard to the Russian oligarch and former KGB officer Alexander Lebedev, for a nominal £1 |
|
|
|
The UK's second largest building society and the banking business of the mutually owned Co-operative group said the deal would form a bank with assets of £70bn and more than 9m customers |
|
|
|
Sir Howard Stringer, chief executive of Sony electronics group, is facing resistance over plans to restructure the company and cut 16,000 jobs |
|
|
|
Funding difficulties for UK companies are being made worse by a sharp reduction in lending to British banks by overseas institutions |
|
|
|
The world's largest telecoms equipment manufacturer is shedding another 5,000 jobs despite reporting better than expected results for the fourth quarter of the year |
|
|
|
Unemployment continued to soar in the final months of last year with the number of jobless climbing to 1.92m in three months to the end of November - the highest level since 1997 the year Labour came to power |
|
|
|
London equities continued to fall with banking stocks under yet more pressure as fears about the health of the sector spread around the world. Barclays and Lloyds notched up further double-digit falls |
|
|
|
Hours after taking office, US President Barack Obama ordered military prosecutors in the Guantanamo war crimes tribunals to ask for a 120-day halt in all pending cases |
|
|
|
Daily Mail & General Trust has sold the London Evening Standard to the Russian oligarch and former KGB officer Alexander Lebedev, for a nominal fee |
|
|
|
The broadcast regulator recommends a tie-up between Channel 4 and BBC Worldwide or RTL-owned Five to ensure the survival of the struggling public sector broadcaster in a 130-page report |
|
|
|
The world's biggest mining group,underlined the pain being felt by the industry when it said its would axe 6,000 employees and close a nickel mine in Western Australia |
|
|
|
The UK's second largest building society and the banking business of the mutually owned Co-operative group said the deal would form a bank with assets of £70bn and more than 9m customers |
|
|
|
Sir Howard Stringer, chief executive of Sony electronics group, is facing resistance over plans to restructure the company and cut 16,000 jobs |
|
|
|
Funding difficulties for UK companies are being made worse by a sharp reduction in lending to British banks by overseas institutions |
|
|
|
The world's largest telecoms equipment manufacturer is shedding another 5,000 jobs despite reporting better than expected results for the fourth quarter of the year |
|
|
|
Unemployment continued to soar in the final months of last year with the number of jobless climbing to 1.92m in three months to the end of November - the highest level since 1997 the year Labour came to power |
|
|
|
London equities continued to fall with banking stocks under yet more pressure as fears about the health of the sector spread around the world. Barclays and Lloyds notched up further double-digit falls |
|
|
|
Hours after taking office, US President Barack Obama ordered military prosecutors in the Guantanamo war crimes tribunals to ask for a 120-day halt in all pending cases |
|
|
|
Daily Mail & General Trust has sold the London Evening Standard to the Russian oligarch and former KGB officer Alexander Lebedev, for a nominal fee |
|
|
|
The broadcast regulator recommends a tie-up between Channel 4 and BBC Worldwide or RTL-owned Five to ensure the survival of the struggling public sector broadcaster in a 130-page report |
|
|
|
The world's biggest mining group,underlined the pain being felt by the industry when it said its would axe 6,000 employees and close a nickel mine in Western Australia |
|
|
|
The UK's second largest building society and the banking business of the mutually owned Co-operative group said the deal would form a bank with assets of £70bn and more than 9m customers |
|
|
|
Sir Howard Stringer, chief executive of Sony electronics group, is facing resistance over plans to restructure the company and cut 16,000 jobs |
|
|
|
Funding difficulties for UK companies are being made worse by a sharp reduction in lending to British banks by overseas institutions |
|
|
|
The world's largest telecoms equipment manufacturer is shedding another 5,000 jobs despite reporting better than expected results for the fourth quarter of the year |
|
|
|
Unemployment continued to soar in the final months of last year with the number of jobless climbing to 1.92m in three months to the end of November - the highest level since 1997 the year Labour came to power |
