Eat Out From £5

OECD blames regulation for crisis

A 'gob-smacking' weakness in the way banks are regulated led to the financial crisis, the OECD says in biannual review

Lyondell asks to pay non-US creditors first

Bankrupt chemicals company has asked a US court for permission to pay foreign creditors $350 million

Lyondell secures $2.1 billion debt loan

Chemical business has secured funding to keep operations running and also pay down $1 billion of debt

US retailers report gloomy Christmas sales

World's largest retailer misses analysts' targets on trade over the festive season as Americans cut back on shopping

Banks swoop to sell Merckle UK interests

Phoenix Group, owner of UK's third-largest drugs distribution business, and Rowlands pharmacy chain put on the market

Huge rise expected in US unemployment figures

'Shockingly awful' official figures are expected to show that the rise in jobless across America last month hit 700,000

Oil prices suffer their biggest fall in 7 years

Benchmark light sweet crude for delivery in February slumped $5.95 to close at $42.63 a barrel on New York Mercantile Exchange

Santander to miss targets over Madoff

Spain’s biggest bank predicted to miss its €10bn profit target after compensating clients on Madoff and Lehman bonds

Intel left reeling as sales drop by a quarter

Microchip maker admits it has been caught out by speed of downturn as sales fail to meet revised forecasts

US jobless to hit highest level in 60 years

New figures reveal more than half a million Americans lost their jobs in December, ahead of official Government data

Madoff took $250m from mentor before arrest

Alleged fraudster dupes man who set him up in business and sent valuables worth more than $1 million to family

Dow to sue after Kuwait pulls out of deal

America's biggest chemical company announces that it will take legal action after failure of $17.4 billion joint venture

Euro falls as pressure rises for ECB rate cut

With inflation plunging and the service sector suffering, the European Central Bank may be forced to take further action

LyondellBasell's US arm in bankruptcy protection

Len Blavatnik's chemicals group says that one of its European companies will do the same amid billions of dollars in debt

Sons turned in Madoff over $1m jewellery mail-out

Alleged fraudster faces calls to have bail revoked after his sons tell authorities of receiving 'heirlooms' in the post

Madoff breaks bail by mailing $1m in jewellery

Bernard Madoff violated the terms of his bail conditions by posting 'heirlooms' to relatives while under 24-hour house arrest

Trucking in the land of Acronymia

At the Fed, the combination of Zirp and QE will provide the liquidity that is a necessary but not sufficient condition of recovery

Japanese lead way as carmakers struggle in US

The American car industry signed off a terrible 2008 with full-year sales figures showing double-digit falls amid the downturn

Manager who predicted slump leaves Paulson

The investor who helped John Paulson to make $15bn from predicting the US sub-prime mortgage crisis has left Paulson & Co

Congress questions SEC over Madoff scandal