European shares have bounced back from early losses as concerns about Europe’s banking sector recede. In Asia, the stronger yen continues to hammer Japanese exporters

President Barack Obama will take Republicans to task over their economic values as he promotes an $180bn package of proposals to stimulate the anaemic US economy

Oil group faults its own engineers but says mistakes were also made by its partners Transocean and Halliburton that led to the disaster, which killed 11 people and led to the largest offshore oil spill in history

Investor says the world’s third-biggest hedge fund manager’s bullish bets on the US housing market and economy generated losses of 9.13 per cent in August for its Recovery fund

Bombay High Court’s decision to tax Vodafone for the 2007 acquisition of Hutchison Essar could hurt cross-border dealmaking in India

South Korea has announced new sanctions against Iran, calibrating its response to US pressure and its fear of imperilling oil imports

German exports fell 1.5 per cent in July in the latest sign that growth in Europe’s largest economy is slowing

Barclays’ promotion of one of the world’s best-paid investment bankers, coupled with the resignation of Stephen Green as HSBC executive chairman, stokes political row about whether big banks should be broken up

The state-owned Chinese group has asked Singapore’s state investment agency to join a consortium to mount a counterbid to BHP’s $39bn offer for Canada’s PotashCorp, but Temasek has made no decision

Hewlett-Packard has sued to block Mark Hurd, its former chief executive, from taking up a senior role at Oracle, adding a twist to a saga that has transfixed Silicon Valley