The UK may face an extended squeeze on public spending if the recent deterioration in growth prospects and tax receipts turns out to be permanent, a think tank says.

Shares of chipmaker Renesas rise 6% after a report saying that shareholders have accepted a bailout from a government-backed fund.

Eurozone finance ministers are set to meet in Brussels on Monday to discuss the next instalment of bailout money for debt-laden Greece.

The Financial Services Authority fines UBS £29.7m for failings that led to trader Kweku Adoboli losing more than £1.4bn.

Economic growth is being hampered by too few transport projects going ahead in the UK, a business lobby group says.

Insurance companies warn that a lack of progress in talks with the government could leave 200,000 homes without cover against flood damage.

Samsung says an audit of 105 of its suppliers in China has identified "several instances of inadequate practices".

BP holds talks with the Russian government and stakeholders in the Nordstream pipeline about extending the line to deliver gas to the UK.