Several EU countries report major disruption to their gas supplies from Russia as Moscow accuses Ukraine of shutting pipelines.

German billionaire Adolf Merckle commits suicide after his business empire runs into trouble in the global economic slowdown.

Marks and Spencer will announce on Wednesday that it is cutting 1,000 jobs from its workforce of 70,000, the BBC confirms.

India's state-run carrier Air India dismisses nine hostesses who had earlier been grounded for being overweight.

Russia ups ante in bitter gas dispute with Ukraine

The euro weakens against the pound and the US dollar as data suggests that a eurozone interest rate cut next week is likely.

Inflation in the eurozone falls more than expected to 1.6% in December, which is the lowest level for 26 months.

Next and Debenhams see sales fall over the Christmas period, as a survey puts UK consumer confidence at a new low.

Venezuela's US-based oil subsidiary is halting a programme to provide cheap heating oil to low-income communities in the US.

French nuclear energy group Areva is awarded a licence to build and operate a uranium mine in Niger.

Shareholders in Irish flag carrier Aer Lingus show little appetite for a Ryanair takeover.

Sterling's fall is next challenge for UK High Street

German luxury carmaker Porsche announces that it now holds more than 50% of Volkswagen's shares.

House prices fell by 15.9% last year, according to the latest survey by the Nationwide building society.

Toyota announces that it is to halt production at its domestic plants for 11 days in February and March.

Millions of trucks in India are off the roads in an indefinite strike, with operators demanding a lowering of diesel prices.

US prosecutors call for Bernard Madoff to be put in prison until his trial after it emerges he sent jewellery and watches to friends and family.