The chairman of one of China's largest state-owned mobile operators, China Telecom, is being investigated by the country's anti-corruption watchdog.

A mixed picture for Asian shares at the start of a week shortened by holidays, amid quiet trade as Japanese shares lead the region's gains.

Chinese regulators have fined seven major international shipping companies 407m yuan ($65m; £42m) for fixing prices after a year-long investigation.

Early figures from retail analyst Springboard show UK shops saw a big increase in business over the Christmas weekend.

The London borough of Newham, home to the Olympic Stadium, enjoyed the biggest rise in house prices across the UK in 2015, according to the Halifax.

Analysts estimate the cost of heavy flooding across northern England could exceed £1.5bn as small business and insurance firms are hit hard.

The percentage of young people who own their own home is falling, data suggests, as experts predict strong price growth in 2016.

Saudi Arabia's budget deficit soars to $98bn this year as the world's biggest oil exporter counts the cost of falling crude prices.