| Rogue trades cost oil broker $10m A rogue trader at a London-based oil brokerage causes his employer to lose $10m (£6m) after making unauthorised trades.  Venezuela assumes control of bank Venezuela's government formally takes control of the country's third largest bank - the Spanish-owned Banco de Venezuela. More backing for Rio cash-raising A Rio Tinto rights issue sees strong take-up from existing holders of its Australian-listed shares - after similar UK success. Making sense of the recession: latest news, analysis and how the crisis affects you BA to cut spending by one fifth British Airways says it is to reduce capital spending by 20% as it faces falling passenger numbers. Eurozone retail sales post fall Retail sales in the eurozone fell more than expected in May, a further sign of the slowing economy, data shows. Europe nears gas pipeline accord Five European governments are due to sign an agreement on 13 July for a major new pipeline from Central Asia. Mandelson hints at Vauxhall loans The UK is prepared to make loans or loan guarantees to help push through the sale of Vauxhall, says Lord Mandelson. Regulators eye Google book deal US anti-trust regulators are to examine Google's $125m deal with book publishers to settle copyright issues, reports say. GM awaits US ruling on sale plans A new General Motors could emerge from bankruptcy protection soon if a US judge approves its plans to sell assets. News Wizard |