The Default Retirement Age of 65 is to be phased out between 6 April and 1 October of this year, the government confirms.

Supermarket giant Tesco reports modest UK sales growth over Christmas, saying it had been "hindered" by the severe weather.

South Korea raises interest rates unexpectedly from 2.5% to 2.75% as it looks to cool rising prices.

Some major High Street names including Argos, Dixons report falling sales - and warn of tough trading conditions.

The global economy will slow this year, with developing countries providing a greater share of growth, the World Bank says.

Spain's latest debt sale raises 3bn euros, with the average yield at a lower rate than expected, as nerves over European debt ease.

Indian IT outsourcing firm Infosys reports disappointing profits and warns of risks to growth in the software sector.

Seven motor insurers agree to restrict the information they swap about pricing strategies, after the Office of Fair Trading raises concerns.