Euro 'breakthrough' is tenuous

NEW YORK (CNNMoney) -- Euro area leaders agreed early Friday on a number of steps designed to stabilize eurozone credit markets and strengthen the region's banking system.

Barclays: Cameron says bank faces 'serious questions'

Prime Minister David Cameron has said that Barclays Bank management has "serious questions" to answer over how it manipulated banking lending rates.

Sony, Panasonic tying up in advanced TV displays

TOKYO: Long-time Japanese rivals Sony Corp and Panasonic Corp are working together to develop next-generation TV panels called OLEDs in a reversal of decades of rivalry as they try to catch up with South Korea's Samsung Electronics.

Apple’s Retail Army, Long on Loyalty but Short on Pay

Last year, during his best three-month stretch, Jordan Golson sold about $750,000 worth of computers and gadgets at the Apple Store in Salem, N.H. It was a performance that might have called for a bottle of Champagne — if that were a luxury Mr. Golson could have afforded.

NatWest opens 1,200 branches on Sunday for first time to clear huge backlog

NatWest is to open 1,200 branches across the country today for the first time ever as the bank clears a massive backlog of payments caused by a computer glitch.

General Motors is recalling its Chevrolet Cruze sedans in US

American carmaker General Motors has recalled 4,13,418 Chevrolet Cruze sedans over concerns of possible fire through liquids trapped in the engine compartment.

Moody's downgrades 15 major banks

Credit ratings agency Moody's has downgraded 15 global banks and financial institutions.

Rain hurts Homebase as Argos sales pressure eases

Wet and windy weather buffeted trading at Homebase, with the DIY retailer suffering an 8pc fall in sales during a "particularly volatile" three months.

US retailer Walgreen buys 45% stake in Alliance Boots

US retailer Walgreen is to pay $6.7bn (£4.3bn) for a 45% stake in UK rival Alliance Boots.

Tesco pays £40m to exit Japan

Supermarket chain Tesco, struggling with falling sales in the UK, has announced it will pay £40m to exit its Japanese business.

Lloyds Banking hikes stake in Essar Energy to 7.14%

LONDON: British entity Lloyds Banking Group today said it has raised stake in Essar Energy to 7.14 per cent after purchasing additional shares.

Facebook technology chief Bret Taylor to step down

Facebook's chief technology officer Bret Taylor has announced he is leaving the social network site in the coming weeks to start up a new company.

Burger King eyes China expansion

(Reuters) - Burger King Worldwide Holdings Inc said on Friday it plans to open 1,000 of its namesake restaurants in China over the next five to seven years under a newly-formed joint venture.

Saab sold to Chinese-Swedish investment group

Bankrupt carmaker Saab has been sold to a Chinese-Swedish investment group which aims to turn the company into a maker of electric vehicles.

British companies' hiring set to slow: surveys

LONDON (Reuters) - British employers expect to take on fewer new staff in the months ahead, a report by recruitment firm Manpower Group showed on Tuesday, chiming with another survey indicating that growth in permanent job placements slowed in May.

Tesco's quarterly sales hit by 'challenging' trading

Tesco's UK sales have fallen over the past three months, in what the retailer said was "a challenging quarter for the industry as a whole". Its like-for-like UK sales, excluding both petrol and VAT, declined by 1.5% in the 13 weeks to 26 May.

Bank deals dry up after turmoil in the eurozone

The level of British banking deals - a bellweather for the UK economy - has plummeted by two thirds over the last year, knocked by turmoil in the eurozone.

American Greetings deal saves 4,500 Clinton Cards jobs

American Greetings, the US retailer, has bought the remains of high street chain Clinton Cards in a deal that saves 397 stores and 4,500 jobs.

Chinese and Japanese investors bid for Saab

STOCKHOLM: A group of Chinese and Japanese investors have submitted an offer to take over bankrupt Swedish carmaker Saab, a spokesman said on Thursday.

YPF to invest $7bn a year until 2017

The new head of Argentina's state-controlled energy company, YPF, has said the firm will need to spend $7bn (£4.5bn) a year for the next five years to boost oil and natural gas output.

Qantas forecasts profit to slide by up to 90%

Qantas said it expects its profits to fall by as much as 90% amid growing losses at its international operations and its "highest ever fuel bill".

'Zombie' companies holding back UK economy, says Ernst & Young

Britain's recovery is being held back by a wave of "zombie" companies that should be allowed to fail but are instead undermining capitalism, according to Ernst & Young.

Car Sales Keep Up Healthy Pace

DETROIT — The auto industry’s recovery maintained a steady pace in May as Chrysler reported a 30 percent gain in new-vehicle sales, Ford said its sales climbed 13 percent and General Motors reported an 11 percent increase.

NBNK gets approval to buy Lloyds branches

NBNK's bid to buy 632 branches from Lloyds Banking Group and create a major competitor to Britain's established high street lenders has got approval from the Financial Services Authority.

Canada's CGI to buy Logica to create global IT firm

LONDON/TORONTO (Reuters) - Canada's top IT services firm, CGI Group Inc, agreed to buy larger Anglo-Dutch rival Logica Plc for $2.64 billion on Thursday, a move that more than doubles its size and helps serve multinational clients in Europe.

With Gavilon gone, Asia grain traders face tougher climb

(Reuters) - Earlier this month, executives at Hong Kong-based commodity trader Noble Group (NOBG.SI) talked with a Kansas agricultural economist about their ambitions to join the biggest wave of industry consolidation in more than a decade.