Britain's double-dip recession is deeper than previously thought after revised estimates showed a sharper decline in the economy in the first three months of 2012.

Holidays giant Thomas Cook has appointed an executive from outside the travel industry to lead its turnaround strategy.

European shares defied the latest economic gloom as investors jumped back into the market on the hope of picking up cheap-looking stocks.

Banks must be told to stop offering free current accounts if Britain wants to stamp out mis-selling scandals, a senior regulator has said.

The uphill challenge faced by the new boss of Mothercare was underlined as a dismal UK performance dragged the parenting retailer to a £103 million loss.

The Co-operative Group is to create 3,000 new jobs in the legal sector through a continued expansion in the range of services it offers.

Two US government panels are to investigate Facebook's high-profile stock offering amid claims that the bank handling the flotation may have provided only select clients with a negative assessment of the company.

Hewlett Packard has warned of cuts in its UK operation in a global purge that will see it axe 27,000 workers.

Hewlett-Packard plans to jettison 27,000 workers as the growing popularity of smartphones, the iPad and other mobile devices makes it tougher for the company to sell personal computers.

A summit of EU leaders has failed to inspire confidence among investors as European markets suffered further heavy losses amid ongoing fears for the eurozone.

Some 366 people will lose their jobs in the next few days in the first wave of store closures at collapsed retailer Clinton Cards, administrators have said.

Manufacturing firm JCB has won a £36 million contract to build 550 new machines from a UK rental firm, with the promise of more orders to follow.