A majority of consumers spent less on their Christmas shopping this year than they did in 2011, according to the consumers' association Which?

President Evo Morales signs a decree nationalising subsidiaries of Spanish energy giant Iberdrola, saying they overcharged consumers in rural areas.

Egypt will soon resume talks with the International Monetary Fund over a crucial $4.8bn (£3bn) loan to shore up the economy, the prime minister says, as the currency weakens further.

US President Barack Obama increases pressure on Republicans to accept a deal aimed at stopping the country going over a "fiscal cliff".

The government's cuts programme could lead to "problems on our streets" and "the break-up of civil society", three Labour council leaders warn.