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Business News and Events

• Fitch downgrades Italy and Spain

  27 January 2012, 3:28 pm

  Five eurozone economies, including Italy and Spain, are downgraded by rating agency Fitch, citing financial weakness during the debt crisis.

• Greece debt talks 'close to deal'

  27 January 2012, 3:00 pm

  Greece could reach a deal with its creditors over the weekend, according to the EU's Economic Commissioner, Olli Rehn.

• VIDEO: Ellen MacArthur on sustainable economy

  27 January 2012, 1:06 pm

  Dame Ellen MacArthur is in Davos to promote a new sustainable approach for the economy.

• Toy maker Hornby warns on profits

  27 January 2012, 1:00 pm

  Model train and Scalextric maker Hornby issues a profits warning after sales of its train and slot-car racing sets were hit in the run up to Christmas.

• VIDEO: Soros warns of 'lost decade' for EU

  27 January 2012, 12:51 pm

  Speaking from Davos, financier George Soros has warned that Europe is likely to face a "lost decade" and is concerned that the EU may be destroyed by austerity measures.

• Hundreds of jobs to go at Serco

  27 January 2012, 11:57 am

  Outsourcing group Serco announces it is to cut 500 jobs in the UK, mostly at the company's head office in Hampshire.

• Outrage at RBS boss's bonus deal

  27 January 2012, 11:50 am

  A £963,000 bonus in shares awarded to Royal Bank of Scotland boss Stephen Hester is strongly criticised by politicians and unions.

• US economic growth rate picks up

  27 January 2012, 11:22 am

  The pace of US economic growth quickened to a 2.8% annualised rate in the three months to December, the Commerce Department says.

• VIDEO: Samsung announces profit rise

  27 January 2012, 10:41 am

  South Korea's Samsung Electronics has announced a 17% rise in profits in the last three months of 2011, as smartphone sales boosted earnings.

• Redknapp: 'I don't fiddle taxes'

  27 January 2012, 10:36 am

  Harry Redknapp told police he has paid "fortunes in income tax" and did not "fiddle anybody", a court hears.

• VIDEO: Lagarde: Need for European growth

  27 January 2012, 10:12 am

  IMF chief Christine Lagarde has again stressed the need for European governments to prioritise growth as talks on the region's debt crisis continue.

• Lenders face tougher regulation

  27 January 2012, 10:08 am

  Payday lenders and other providers of short-term credit will face much tougher regulation when a new watchdog starts work.

• Spain jobless passes five million

  27 January 2012, 9:25 am

  Spain's unemployment figure rose above the five million mark in the last quarter of 2011, official figures show.

• Top Euro MP quits in piracy row

  27 January 2012, 9:24 am

  A European Parliament rapporteur has stood down in protest as a controversial anti-piracy agreement is signed by several countries.

• Osborne unveils UK financial bill

  27 January 2012, 9:19 am

  The Chancellor George Osborne has revealed details about the new Financial Services Bill that will overhaul regulation of the sector.