The European Commission has drawn up new proposals designed to stop taxpayers' money being used to bail out failed banks.

The search giant has introduced an alert system to warn users it suspects are the target of state-sponsored attacks.

Abu Dhabi's Etihad Airways buys a 4% stake in Virgin Australia in a bid to expand its global presence and take on Gulf rivals.

Australia's economy expands more-than-expected in the first quarter allaying fears of a global slowdown hurting its growth.

Ratings agency Moody's cuts the credit ratings of six German banks and three in Austria citing concerns about the eurozone debt crisis.

Drinks giant Diageo is to invest £1bn in Scotch whisky production over the next five years to meet growing global demand.

Ministers are urged to look into claims that unemployed people hired as unpaid stewards during the Jubilee ended up having to sleep under London Bridge.

Industrial production fell in Germany in April, while official figures confirm zero growth for the eurozone economy.