Lloyds Banking Group has named the Co-operative as its preferred choice to buy the 632 branches it is selling under European competition rules.

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Co-op preferred Lloyds branch buyer

The president of scandal-battered Olympus has hinted that business partnerships may be sought to shore up the gaping hole that the huge investment losses it hid for years have left on its balance sheet.

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Olympus hints at partnerships move

Fitch Ratings has downgraded the debt ratings for five major European commercial banks and co-operative banking groups, citing the eurozone crisis and stronger headwinds facing the banking sector.

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European banks suffer downgrade

Moss Bros has hailed another step in its turnaround after the menswear retailer reported a double-digit rise in like-for-like sales.

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Moss Bros boosted by sales trend

Tensions between London and Paris have been heightened further after the head of France’s central bank suggested that the UK was a candidate for a credit rating downgrade.

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French banker hints at UK downgrade

Britain’s lenders have warned that repossessions are predicted to rise next year and the amount of money lent for mortgages could be lower amid a weak economic backdrop.

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Lenders fear rise in repossessions

The head of the International Monetary Fund has warned that prospects for the global economy are gloomy and it will take concerted action by all countries to resolve an escalating European debt crisis.

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IMF chief warns of ‘gloomy’ outlook

Sofa giant DFS has vowed to press ahead with its expansion plans – creating 300 jobs in the coming months – despite posting a fall in profits.

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Sales dip fails to stop DFS growth

Factory bosses are preparing a cut in production in the new year after the eurozone crisis left exports at their weakest in two years, the CBI said.

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Manufacturers set to cut production

Newcastle United owner Mike Ashley is being lined up for a £12 million shares windfall after his Sports Direct chain reported more robust trading.

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Sports Direct boss set for bonus