Antonio Borges, the head of the International Monetary Fund's European department, resigns for personal reasons.

Italian clothing firm Benetton pulls an advertisement with a photo montage of Pope Benedict kissing an Egyptian imam after the Vatican complains.

Google launches an Android-based online music store challenging Apple's dominance of the sector.

Shares in US banks tumble in late trading on Wall Street after ratings agency Fitch warns over their exposure to the eurozone.

Business Secretary Vince Cable says the UK will not "fall for" any plan to introduce a financial transactions tax only in Europe.

The government could borrow £100bn more than it planned up to 2015, according to claims by Labour based on its comparison of economic forecasts.

Most councils in England and Wales are coping well so far with the squeeze on their budgets but some face a "rocky road" ahead, the local government spending watchdog says.

Comedian Ricky Gervais is to host the Golden Globes award ceremony for the third time, despite previously causing controversy in the role.