ECONOMY

Shares rise as BP is on the cusp of settling one of its many cases related to the Gulf of Mexico oil spill for at a lower settlement fee, say reports.

Rupee falls after S&P says cut to junk status possible for Asia's third-largest economy

International Air Transport Association says deepening eurozone sovereign debt crisis and rising oil prices threaten to wipe out airline industry profits and targets

Italy now under pressure as recession deepens, bond yields rise following Spanish bailout

The MSCI Asia Pacific index, Hong Kong's Hang Seng and China's Shanghai Composite index all witnessed rises.

The Spanish prime minister projected the bank bailout as a step towards fixing the ailing economy, while speaking to reporters in Madrid.

Labour's Ed Balls says blaming the eurozone crisis is a mere excuse as France and Germany have managed to avoid recession.

Eurozone finance ministers agree to lend up to €100bn to clean up Spain's banking sector burdened by bad debts and property bubble burst.

Europe's debt crisis and slowing domestic demand are expected to pull down growth.

Spain's banking sector intransigence has left it with two stark choices as the clock ticks closer to midnight

Ex-UBS employee charged with unauthorised trading is granted bail by a UK court

Estranged wife of multimillionaire Ben Goldsmith defends affair with the rapper Jay Electronica on Twitter

OAO Gazprom neft chief dismisses reports that the group is looking to buy BP's stake in TNK-BP

Ukraine will get a bigger one-time boost, but Poland's may see better longer-term prospects from European Football jamboree

China's surprise interest rate cut is the first major step towards making banking more competitive while liberalising its currency.

Media reports reveal that troubled PIG country Spain is to formally request a European Union bailout over the weekend

German banks and the German branches of foreign lenders record a surge in deposits due to the banking crisis in the euro area.

UK retail giant Marks & Spencer Group Plc to challenge rival Tesco with banking service offer

Prime Minister David Cameron pledged to protect Britain's interest in the eurozone.

‘Don’t worry, your money’s safe with us’ â€" that’s what Santander UK (the British arm of the Spanish-owned bank) has effectively told us here at IBTIMES UK.

Though world leaders are pressing for stronger and urgent action, the end-June meeting of European leaders is not expected to bring any substantial change in the situation of the eurozone.

On 31 May 2012 Ireland held a referendum - the only country to do so - as to whether or not its Government should ratify the Stability Treaty signed by 25 of the 27 European Union (EU) Member States in December 2011 and due to come into effect on 01 January 2013. This is the Treaty which Prime Minister David Cameron representing the UK famously refused to sign, along with the Czech Republic.

According to reports, the IMF's highly anticipated Spanish bank audit will also "outline overall needs of €90bn to clean up Spain's entire banking sector."

China's surprise move cut to interest rates could be its first big step to interest rate liberalisation

The tumble in France bond yields reveals increased investor appetite for the country's relatively safe-haven bonds.

Bank of England's Monetary Policy Committee holds interest rates at their record low and leaves quantitative easing target unchanged despite dismal UK economy

Santander UK customers may be concerned by recent developments in Spain - but should they be worried about their cash?

New Britain service sector information provides hope UK recession ending after purchasing managers index data reveals sector grew in May

House prices across Britain stabilising after stamp duty holiday for first time buyers skewed market