Standard & Poor's cuts Greece's credit rating three notches from B to CCC, making it the world's least credit-worthy country.

People on low incomes have suffered higher inflation than those on higher incomes in the past decade, the IFS says.

The Treasury is failing to monitor the "excessive" profits being made by the sale of PFI equity in the so-called "secondary" market, the BBC is told.

The International Monetary Fund shortlists Christine Lagarde and Agustin Carstens as candidates for the fund's top job.

Southern Cross reaches a deal with its landlords under which no care homes will close until at least October.

Japan's cabinet approves plan to help Tokyo Electric Power (Tepco) compensate victims of its tsunami-crippled nuclear plant.

Inflation in China's rapidly growing economy hits a 34-month high as consumer prices continue to surge.

The Bank of Japan unveils a 500bn yen ($6.2bn; £3.8bn) credit line in an attempt to help small businesses in the country.