Cold Snap Could Put European Economies in the Deep Freeze

If there's one thing Europe doesn't need, it's more drag on economic growth. Yet that's just what it could be getting, with a fresh dose of snow and frigid weather

Lloyd's 'plans for euro collapse'
The insurance market Lloyd's of London is preparing contingency plans for the possibility of the euro collapsing, its chief executive tells a newspaper.

Lagarde tax jibe angers Greeks
Political parties in Greece criticise IMF head Christine Lagarde for suggesting that Greeks were avoiding paying taxes.

Lack of fraud raids questioned
The Serious Fraud Office has not conducted a single raid in the last financial year, according to statistics obtained by a law firm.

£82m loan scheme to target young
An £82m loan scheme for young people wanting to create a business is being launched by PM David Cameron.

Chip firm Renesas sees shares dip
Japanese chipmaker Renesas sees its shares tumble to a record low amid reports it is planning to raise cash and cut jobs.

China eyes private cash for banks
China opens up its banking system to private-sector investors, the latest move aimed at underpinning economic growth.

Branson calls for businesses plan
Business tycoon Richard Branson urges the government to promote economic growth by supporting small firms in the UK.

Cable: 'Don't lecture eurozone'
The UK should learn from Germany's successful economy, rather than lecturing the eurozone, Business Secretary Vince Cable says.

Spain's Bankia seeks 19bn euros
Spain's fourth-largest bank, Bankia, asks for a bailout worth 19bns euros ($24bn; £15bn), and admits that it made a massive loss last year.

Some holiday money rates 'unfair'
The same currency exchange providers can offer significantly different rates across the UK, a consumer group says.

Football creditors rule to stay
The High Court has rejected an attempt by HMRC to get the so-called "football creditors rule" abolished in England.

EU challenge to Argentina at WTO
The EU files a suit against Argentina's import restrictions at the WTO in the latest stage of a trade row between the two.

Worker in £2.5m bank scam charge
The former head of fraud and security for digital banking at Lloyds is charged in connection with an alleged £2.5m fraud.

Lord Smith to chair green bank
Lord Smith of Kelvin will chair the UK's Green Investment Bank, Business Secretary Vince Cable announces.

Minority vote no to HSBC boss pay
Most HSBC shareholders have approved the bank's executive pay awards at the annual general meeting, bucking the recent trend for shareholder revolts.

Microsoft wins text patent fight
Google suffers its first patent defeat since taking over Motorola Mobility in a battle over how Android handles texts.

Two banks hit by online problems
Some customers of two banks - Barclays and Santander - have been unable to access their bank accounts online ahead of the weekend.

Apple's boss rejects $75m payout
Apple's boss, Tim Cook, turns down a payout worth about $75m (£48m) that he was due from the technology giant's upcoming dividend.

Rinehart 'world's richest woman'
Australia's mining magnate Gina Rinehart has become the world's richest woman with assets of $28bn, a respected business magazine says.

Charges over £4m fake coins haul
Three men are charged over the seizure of £4.1m of counterfeit coins - thought to be the biggest such discovery in the UK.

Free banking 'a dangerous myth'
Free banking is a "dangerous myth", according to Andrew Bailey, who is due to become the chief regulator of the financial services industry.

Supermarkets 'misled on pricing'
Customers have been misled by supermarkets over discounts and multi-buy offers, according to consumer group Which?.

Fuel costs spur Japan price rise
Japan's consumer prices rise in April, spurred by rising fuel and energy costs, official data shows.

Thailand exports in shock decline
Thailand reports a surprise fall in its exports for April because of falling demand from key markets such as Europe and the US.

China police free foreign banker
The Chinese authorities release a Singaporean banker held without charge since March on suspicion of aiding a criminal.

'China's Twitter' adopts new code
China's most popular Twitter-like service, Weibo, adopts a new contract limiting the types of messages its users can post.

Currys owner gains new funding
The owner of Currys and PC World, Dixons Retail, says it has been given new credit by its banks and will be able to meet this year's debt repayments.

Google shows copyright complaints
Microsoft has asked Google to remove more than 500,000 links from its search index in the last month, figures show.

Rangers launch SFA legal action
Rangers ask the Court of Session to overturn a transfer ban imposed on the club by the Scottish Football Association.

BBC renews Match of the Day deal
BBC agrees a new deal to broadcast Premier League highlights on Match of the Day until the end of the 2015-16 season.

US could host Olympics after deal
The United States can bid for the Olympics again after agreeing a revenue-sharing deal with the International Olympic Committee.

VIDEO: Cheese producers hit by Italy quake
A week after a powerful earthquake hit northern Italy, Parmesan farmers are feeling the economic repercussions.

VIDEO: Umunna: Lagarde 'is no Oracle'
Chuka Umunna said IMF boss Christine Lagarde was not likely to make critical comments about the UK government as Chancellor George Osborne "sponsored her for this job."

VIDEO: High Streets share £1.2m funding
Twelve English High Streets - from Cornwall to Northumberland - will share a £1.2m pot of government cash to rejuvenate shopping areas.

VIDEO: Cigarette tax to double in the UAE
Efforts are under way across the Gulf to sharply increase the cost of tobacco by doubling the tax rate, a move that is making smokers unhappy.

VIDEO: India's impact on Kuwaiti economy
The number of Indians living in in Kuwait has quadrupled in the past decade to about 650,000 - making them the country's largest non-Arab population.

VIDEO: Inside Google's lair
Click's Sumi Das reports from inside Google on the company's quest to perfect workplace efficiency by going the extra mile for their employees.

VIDEO: Spain's Bankia vows transparency
The head of Spain's fourth-largest bank, Bankia, has promised more transparency, a day after announcing huge losses and asking for a bailout.

VIDEO: Your Money: Changes to payday loans
In this week's Your Money, Declan Curry looks at new pledges from payday loan companies to help borrowers who are in trouble.

Cannes: China arrives on and off the red carpet
In Cannes, China arrives on and off the red carpet

Cashback websites: how do they work?
Are there any pitfalls to cashback shopping sites?

Mazda bets on internal combustion engine
Mazda bets big on petrol and diesel

Brazil's continuing franchising boom
The growing number of Brazilians buying a franchise

China brings jobs to Ethiopia but at what cost?
Who really benefits from Chinese investment in Ethiopia?

Egypt's poor rely on Gameeya lending schemes
Egyptians turn to traditional saving schemes to make ends meet

Six reasons why India's rupee is in freefall
Six reasons why the Indian rupee has fallen sharply in value.

Spain weighs Bankia debt issue
Madrid is considering issuing government guaranteed debt to the lender, which the bank will then deposit with the ECB as collateral for cash

KKR’s interest in BHP diamond mine fades
Experts question whether diamond business could work for private equity after US firm cools on the idea of buying Ekati mine in Canada

RIM expected to reveal job cuts
Insiders confirm that a substantial restructuring is planned by the maker of BlackBerry smartphones, which aims to cut costs by $1bn a year

Newedge to leave Greek stock market
Broker informs its clients that it will process only sell orders, and stop extending margin loans for existing positions in Greek securities

Sumitomo Mitsui in insider trading probe
Japan’s fourth-largest bank by market capitalisation says it is co-operating with a probe by regulators into allegations of insider trading by an employee

Xstrata to pay big bonus to keep chief
A bonus package worth tens of millions could reignite tensions over the pay packages of FTSE executives, which has forced some chiefs to step down

Unilever in soap opera digital ads deals
Growth of online marketing and social media provides new opportunities for the household goods group to team up with media groups to advertise its brands

FirstGroup chairman pressed to step down
Top 10 investors push for boardroom change amid share slide and claims that Martin Gilbert may be overstretched with other role as Aberdeen chief

Facebook’s woes add to fears on Wall Street
Poor after-market performance and perception of greed among early backers and banking syndicate hurt efforts to woo retail investors back to shares

US court to rule on start-up Aereo
Digital video group sued by broadcasters offeres live high-definition streams of free-to-air networks to smartphones, tablets and laptops

Bankers’ salaries up 37% in four years
A new study has revealed a sharp increase in fixed remuneration as banks seek to retain staff and bypass regulation such as the UK’s bonus tax

Serco and Capita buoyed by public spending hopes
Outsourcing groups rise on optimism of government contracts amid relatively light trading which left the FTSE 100 up 1.6 per cent for the week

Investors eye a buying opportunity
Amid all the talk of end of equities, some investors believe that now could be the time to start buying back shares despite the eurozone turmoil

Cult of equities is dead. Long live equities
Once the era of financial repression ends and interest rates are allowed to return to normal, there will be another cult of the equity

Mothercare plan soothes investors
Strong performance outside UK helps offset cost of store closures but baby clothing retailer warns domestic market ‘remains tough’

WPP spearheads London rally
Advertising group rises after managers dismiss fears of an industry slowdown, as the wider market rebounds following sharpest drop in six months

Miners fall on fears for Chinese growth
BHP Billiton and Rio Tinto slip as China and eurozone worries drive metals prices lower, helping to push FTSE 100 to worst loss since November

Europe erases gains on Greek exit fears
Banks weigh on markets, with Crédit Agricole and Banca Emilia leading losses as hopes of an outcome to debt crisis wane during EU summit

Burberry: spending to grow
Investors should welcome the trenchcoat maker’s planned capex on floorspace, bigger flagship stores and, critically, digital innovation

Investor interest in HICL equity surges
UK-listed infrastructure fund, which reported an annual pre-tax profit increase to £62m, says a recent £250m equity raising was oversubscribed by 20%

Two Italian banks to sell stakes in LSE
UniCredit and Intesa Sanpaolo, which hold a combined 31m shares, are looking at taking advantage of the exchange’s buoyant share price

Carnival cruises ahead as fuel falls
Mining stocks underpin the rally on FTSE 100, rising 1.9%, following a report that China would pull forward infrastructure spending

Shell defends pay and plans for Arctic
Environmentalists and investors clash with the oil group at annual meeting dominated by concerns over exploration in Alaska and executive remuneration

Man Group to acquire rival FRM
The deal will shore up the hedge fund manager’s asset base, which has suffered from outflows and poor performance in the past 18 months

London equities recover from heavy fall
Financials and resources edge FTSE 100 higher, ending five-session losing streak and signalling a tentative return to risk, despite Greece fears

ITV weakens as FTSE 100 drops
Banks and mining stocks lead the wider market to its sharpest weekly fall since September, with the benchmark index down 5.5% for the week

Small caps: cash boost for PV Crystalox
The lossmaking solar panel wafer maker said it had won a €90m cash settlement from the termination of a long-term contract

French Connection falls on profit warning
Range Resources and Red Emperor Resources groups drop on news that drilling has been halted in Somalia

Cairn investors vote down pay report
Shareholders revolt reflects simmering discontent despite founder and chairman Sir Bill Gammell’s £3.5m bonus being scrapped in January

M&S chief may miss out on bonus
Group to record first fall in full-year profit in three years, but chief Marc Bolland could still take home £6m under deal he signed when he joined

Home owners 'due £4,260 rebate on inheritance tax'
More than 20,000 people may be due an average £4,260 rebate after paying too much inheritance tax as property prices have fallen over the last four years, research has found.

Exclusive: Cabinet is worth £70million
David Cameron is worth almost £4million according to a new analysis that estimates the combined wealth of the Cabinet at nearly £70million.

Irate Greeks vilify IMF chief on Facebook after she brands them tax dodgers
Christine Lagarde has been forced to express her sympathy for the Greek people after receiving 10,000 messages on Facebook, many of them obscene.

Thomas Cook cuts new chief's notice period to six months
Thomas Cook has cut the notice period of its chief executive from 12 to six months as its board tries to stamp out 'pay for failure' accusations at the company.

John Timpson: regulations protect poor performers at the expense of the best staff
The management column: Straight-talking, common sense from the front line.

Autonomy boss Mike Lynch blames exit on Hewlett-Packard's PC focus
Hewlett-Packard might be the biggest PC manufacturer in the world, but Autonomy's Mike Lynch fell out with bosses after they decided to stick with computers instead of shifting their focus to software.

Graff Diamonds sees 'tremendous' demand ahead of $1bn Hong Kong IPO
Graff Diamonds, the London jeweller whose creations often fetch hundreds of thousands of pounds a piece, will on Monday start offering shares to retail investors ahead of its Hong Kong flotation.

Tax deal to uncork India for wine investors
When Hong Kong scrapped all taxation on alcohol sales in 2008, it sent the price of investment wine into the stratosphere. Tax cuts on wine purchases are now set to happen in India, so will a new flood of buyers reverse recent price declines?

Qatar goes on European shopping spree
While most investors have either been choking back the tears or avoiding the beleaguered, recession-hit eurozone, one wealthy Arabian emirate has been on a trolley dash.

Australian mining magnate Gina Rinehart's fortune grows to £18.2bn
The resources boom is not over yet - for some, at least. Gina Rinehart, the Australian mining tycoon, is growing her wealth at a rate of £32m a day, according to Australia's annual rich list.

The week ahead in business and economics: May 28 - June 1, 2012
Royal Bank of Scotland holds its annual meeting for shareholders, where it is expected to avoid an investor revolt over pay, and the latest house price figures are out.

Shops pin hopes on Jubilee lines for sales boost
The beleaguered retail sector is pinning its hopes on next weekend's Jubilee celebrations to provide an £800m sales boost.

Neither spending cuts nor the eurozone are to blame for Britain's weak economy
There are two competing stories frequently put forward to explain why the British economy is currently so depressed. The first features "the cuts". The second, "Europe".

Greek Facebook users start war against Lagarde
Angry Greeks waged Facebook war against International Monetary Fund head Christine Lagarde today, after she accused their countrymen of dodging taxes.

Lotus boss quizzed over expense claims
The owner of sports car group Lotus is investigating expenses claimed by suspended chief executive Dany Bahar.

Former Dixons boss John Browett gets £36m 'golden hello' for joining Apple
John Browett, the former Dixons boss poached by Apple, will receive a $56m (£36m) "golden hello" for taking charge of the tech giant's retail arm.

Europe's Maquina Infernal has crippled Spain
Spain is spiralling into the vortex of debt-deflation. This has nothing to do with Greece. It is not the result of fiscal extravagance over the past decade, or other such Wagnerian myths.

Greek sex industry hit by debt crisis
'Customers just don't feel like having sex - or can't afford to buy our stuff.'

Brussels could take control of struggling European banks under secret plans
Struggling European banks could be seized and controlled by Brussels as part of secret plans being drawn up, it has emerged.

Lotus chief executive Dany Bahar suspended
Dany Bahar, the chief executive of British-based sports car maker Lotus, has been suspended by the company's new Malaysian owners.

Greece will run out of money by end of June, warns former PM Lucas Papademos
Former Greek prime minister Lucas Papademos has reportedly warned that Greece may run out of money by the end of June if international bailout funds are cut off following next month's election.

Autonomy boss Mike Lynch blames exit on Hewlett-Packard 'turmoil'
Autonomy founder Mike Lynch has blamed his exit from the company on a strategy U-turn by its new owners, Hewlett-Packard.

Euro 2012 could harm Ukraine's ability to repay debts
Country may never recover billions of dollars it has spent, warn analysts.

Nick Clegg: eurozone foundations are 'weaker than anyone could have predicted'
Nick Clegg has warned that the foundations of the eurozone are "weaker than anyone could have predicted", as he urged Greece to stay in the euro and stick with its austerity programme.

Government must focus on SMEs, says Sir Richard Branson
Billionaire tycoon says the Government needs to provide 'action to back the rhetoric', boost support for small and medium-sized businesses and promote entrepreneurialism to reduce unemployment and kickstart growth.