Transport secretary Patrick McLoughlin says failures in tender risk assessment mean FirstGroup's contract must be aborted.
Scale of mis-selling scandal highlighted in Labour party leader's conference speech.
Ratings firm says it will make a decision on Spain's Baa3 investment grade status in October
Founder of world's biggest bond fund says US needs annual $1.6 trillion in austerity measures.
Robust labour market and limited supply preventing sharper decline
Former UBS trader John Hughes testifies that he conducted same unauthorised trading that Kweku Adoboli is accused of
Currency crisis could escalate economic slowdown as global sanctions on crude take more than $130bn from Tehran each day.
PMI survey data of slowing orders and dropping output in construction sector pointing to 'ominous future'.
European debt worries overshadow positive US manufacturing data.
Dutch Ministry of Security and Justice seeks information from Rabobank over its possible involvement in the manipulation of Libor
British Chambers of Commerce business survey shows falling confidence, investment and new hires as damp domestic demand hinders economy
UK government proposes a test to identify "culturally British" games and animation in order to receive a tax break
Nearly 5 million Spaniards out of work as recession hits job-rich tourist economy
Labour's Shadow Financial Secretary to the Treasury Chris Leslie writes to the FSA chief Martin Wheatley direction on mis-selling derivatives
Spain's €13bn in new austerity measures keeps EU partners happy, but several market tests await.
The Business Secretary sends in Tessa Munt MP to the lobby group's conference, after the FSA revised up the estimate of products mis-sold to UK.
Hometrack's research shows weakening demand but tight supply helps underpin house prices from a sharper decline
The twin strategy of central bank profligacy and government austerity continues to struggle as factories slow, demand dries up and jobless rates rise.
A CBI survey shows business volumes dropping in financial sector and labour costs cut in three months to September
Fitch keeps its top grade for Britain's debt but says rising budget deficits and a slowing economy may threaten the triple-A rating.
September saw another fall in activity for embattled manufacturing sector according to leading private industry survey
Talks between BP and the US government stall, as BP's board is split over whether to pay an $18bn settlement.
Chairman gives nod to sweetened Glencore bid on promise to protect key Xstrata managers
Bank of Japan's Tankan survey shows that the business outlook for major manufacturers has fallen.
China's purchasing managers index remains at 49.8, below contraction indicator of 50.
Shadow chancellor Ed Balls will tell Labour conference that 4G sale proceeds should be pumped into affordable housing and first-time buyer breaks.
Budget prefers to tax the rich to raise resources rather than resort to spending cuts to plug the €30 bn hole in country's finances.
Sale of Britain's biggest car insurance group comes after formal OFT referral to Competition Commission.
Service sector bounce in July suggests UK economy will return to growth in third quarter
GFK NOP research shows consumer optimism growing in September and offers hope for festive reatil boost