The Japanese government lowers its expectations for Japan's economy for the first time in nearly two years.

The flagship of the Royal Navy, the aircraft carrier Ark Royal, is to be scrapped earlier than planned under the government's defence review.

BP's new chief Bob Dudley, who took over following the oil leak in the Gulf of Mexico, tells the company's 80,000 employees safety will be the sole measure for bonus payments in the fourth quarter.

US stocks close lower as bank shares fall on fears that Bank of America may be forced to buy back billions of dollars of mortgages.