Handing powers to set corporation tax from Westminster to Holyrood could destabilise public spending, Scotland's accountancy body warns.

European Council President Herman Van Rompuy welcomes Italy's new austerity measures and says they are "crucial" for the entire eurozone.

A shortage of engineering skills in the UK could hamper growth at BP's North Sea operations, a senior executive at the oil giant says.

Markets are in a "new danger zone" as investors have lost confidence in the economic leadership of several countries, the World Bank president says.