Investor concerns about the euro area turned to Spain when the country’s central bank took control of CajaSur, a small, troubled savings bank based in Córdoba. Spain’s cajas account for almost half of its banking system and have been hit by the collapse… more »

Markets had another unsettled week amid continuing worries that officials in the euro area have failed to resolve the sovereign-debt crisis in the currency block. The European Central Bank’s announcement that it had made an initial purchase of €16.5 bill… more »

more--> Markets responded positively, initially at least, to the €750 billion ($950 billion) stabilisation fund promised for the euro area. But the political independence of the European Central Bank came into question after it reversed course on its… more »

Tony Hayward, the boss of BP, said the company would honour all “legitimate” claims for damages in the wake of the oil spill in the Gulf of Mexico. Existing American law would cap BP’s liability at $75m, but there have been calls for a retrospective chan… more »

Countries in the euro zone cobbled together a €30 billion ($41 billion) loan package for Greece, should it need it. The IMF is expected to add €15 billion. This came in response to market jitters about the lack of detail in previous commitments and a jum… more »

EADS, the European maker of Airbus aircraft, and Northrop Grumman decided not to proceed with their joint bid for a $35 billion contract to build new flying tankers for America’s air force. The pair criticised the Pentagon’s selection criteria, which, th… more »