LONDON - Mark Carney faces probably his toughest questioning so far as Bank of England governor next week when lawmakers will seize on a foreign exchange scandal to press their demands for tighter oversight of the central bank.
LONDON - The Bank of England may appoint a judge, academic or senior financial industry executive to run an independent inquiry into its actions in relation to allegations it allowed manipulation of the foreign exchange market, the Sunday Telegraph reported.
LONDON - Britain's Co-operative Group is set to pay up to 3.66 million pounds in pay and benefits to its chief executive this year and hike the salaries of other senior executives, the Observer newspaper reported on Sunday.
BRUSSELS - European Union governments and parliamentarians will try to reach a compromise this week on how to wind down failing banks, in marathon talks intended to settle who decides to close banks and who picks up the bill.
PARIS - Competitiveness in France and Europe must be improved regardless of how strong the euro is, France's finance minister said on Sunday, in a rebuttal to critics who blame the currency's rise for French firms' export woes.
CAIRO - Arabtec Holding , Dubai's largest listed construction firm, has agreed with the Egyptian army to build one million houses in a project worth 280 billion Egyptian pounds (24.06 billion pounds), it said in a statement on Sunday.
SHANGHAI - Unilever PLC has bought a majority stake in water purification company Qinyuan, its biggest Chinese acquisition in ten years, the consumer goods company said on Sunday without disclosing what it paid.
PORCIA, Italy - The boxy white and grey factory of this rainy northern town makes fewer than half the washing machines it did when Italy joined the euro. It is one of the many symbols of Southern Europe's industrial decline.
LONDON - Britain's fourth-biggest grocer Wm Morrison is expected to report its lowest annual profit in five years on Thursday and could also detail plans to sell about 10 percent of its freehold property and return surplus cash to shareholders.
DETROIT - Former Ford Motor Co executive William Clay Ford Sr., the last surviving grandchild of the automaker's founder, Henry Ford, and the longtime owner of the Detroit Lions football team, died on Sunday at age 88, the company said.
The Scottish government wants to be part of a sterling zone if the people vote for independence, as alternatives to the pound aren’t attractive. But it’s hard to see the rest of the UK agreeing to such a deal – except on terms that would affront Scotland’s amour propre.