George Osborne will be forced to extend austerity deep into the next parliament, as he presents a bleak Autumn Statement against the backdrop of weaker growth and a larger deficit.
Philip Clarke, chief executive of Britain’s biggest retailer, is expected to announce a strategic review of Fresh & Easy, alongside its third-quarter trading update on Wednesday.
Companies might be able to slash the deficits on their pension schemes at the stroke of a pen after a consultation to be unveiled by chancellor George Osborne on Wednesday.
Lord Stevenson, former chairman of HBOS, was pilloried by Parliament after letters emerged in which he assured the City watchdog that the bank was secure just six months before its collapse.
Plans to create a eurozone banking union stalled on Tuesday after Germany’s finance minister cautioned over moving too quickly, casting doubts over whether the EU would seal a deal in 2012.
Roman Abramovich, the Russian billionaire owner of Chelsea football club, has agreed to buy a 7.3 percent stake in Norilsk Nickel in a deal to end the company’s long-running shareholder conflict.
Warren Buffett’s Berkshire Hathaway is claiming as much as $1bn in damages from Swiss Re, the reinsurer it propped up during the financial crisis with an emergency capital injection.
US bank regulators are joining fellow bank supervisors in examining proposals to force the largest and most complex financial institutions to fund themselves with more long-term debt.
KP Snacks is about to be sold to German snacks maker Intersnack, paving the way for a possible disposal of the rest of United Biscuits’ brands, including McVitie’s Jaffa cakes next year, people familiar with the matter said.