Asian stocks fell after data showed inflation in China was heating up again, complicating efforts by Beijing to stimulate the world's second largest economy.

China's inflation rebounded in January as food prices soared, renewing pressure on Beijing to control living costs as it tries to boost slowing growth amid warnings of a looming global downturn.

Greek Prime Minister Lucas Papademos and his coalition partners have struck a deal on new cuts demanded by creditors to secure a vital 130 billion euro (£109 billion) bailout.

Ongoing investigations surrounding the closure of the News of the World cost News Corporation 87 million US dollars (£55 million) in the final three months of last year, the media giant has revealed.

Rupert Murdoch's News Corp said that net income grew by nearly two-thirds in the final quarter of 2011, despite expenses related to ongoing phone hacking investigations of its UK newspaper unit.

The Bank of England has injected a further £50 billion into the economy as the UK battles to stave off another recession.

Britain's economic recovery is being held back by a lack of women in the boardroom, David Cameron has warned.

US stocks have staged an afternoon-long rally and closed higher as Greece appeared to close in on the cost-cutting deal it needs to keep from defaulting on its national debt.

The new boss of Dettol to Nurofen firm Reckitt Benckiser has hailed a decade of "superior growth" but warned the company would have to overhaul its strategy to keep ahead of the game.

The Bank of England is expected to unleash another multi-billion round of emergency support for the UK economy on Thursday despite signs that the UK's financial health may be starting to improve.

HomeServe is to cut 200 jobs after admitting it was taking longer than expected to recover from accusations that it mis-sold policies.

Dunelm has stuck by its plans for up to 200 stores after reporting "robust" sales and profits growth despite the gloom in the homewares sector.