Greek councils ordered to hand over cash

Mayors react with anger at demands to shore up public finances

Teva offers $40.1bn for US rival Mylan

Cash-and-shares proposal continues consolidation in pharma sector

Hourican quits as chief of Bank of Cyprus

Former RBS executive resigns to spend more time with family

Wonga slides to first annual loss

Payday lender’s revenues plunge 31% to £217.2m

Macron chooses realism over romance

French economy minister signals pragmatic approach to takeovers

Vodafone in early talks to buy Cabovisão

Altice required to sell cable group in Portugal Telecom takeover

Oil has hit its lows, says Vitol chief

Ian Taylor sees pick-up in demand and delays in Iran output

Credit Suisse beats expectations

Shares drop on fears Swiss bank may have to raise capital

Egypt’s Morsi sentenced to 20 years jail

First elected leader guilty of using violence against protesters

Arm profits buoyed by strong iPhone sales

Company also benefits from consumer shift to 4G

US beefs up naval force off Yemen coast

Aircraft carrier and cruiser to help watch Iranian vessels

Comment and Analysis

The potential of pot for US cannabusiness

Entrepreneurs explore the opportunities of legal cannabis

London stocks await election fate

Markets hope for Liberal Democrats to remain kingmakers

Oil delta dilemma for Nigeria’s leader

President-elect has an uphill climb to unify delta region

Best comments from our readers

"If a family tosses out a child who refuses to work when he is 18, most onlookers would look askance. But if that kid spent five years refusing to look for work etc. and he then gets tossed out the community response would probably support that move.The same with Greece."
By aeolius on Greek default necessary but Grexit is not

"Too many companies these days recruit because of experience not because of ability. The banks are the worst at this, expecting new hires to start contributing immediately and so will not move people internally - they would have to learn the new role, which would take too long."
By A 30-year work anniversary is a freak event to be cheered

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