LONDON British industrial output suffered its sharpest monthly drop in December since 2012 as warmer than usual weather curbed demand for electricity and gas and manufacturing continued its decline, denting hopes for improvement this year.
London-based explorer Tullow Oil is planning to slash capital expenditure by two-thirds by 2017 after reporting its second consecutive annual loss.
Signs of a turnaround at Tesco propel supermarket towards the top of the FTSE 100, which snaps three-day losing streak. Markets. Other markets.
Tidjane Thiam, CEO of Swiss bank Credit Suisse, said banks are in a better shape than during the financial crisis. Photograph: Ennio Leanza/AP.
TOKYO Asian stocks fell on Wednesday on growing concerns about the health of the world's banks, particularly in Europe, pushing investors into safer assets such as the yen, which stood near a 15-month high versus the dollar.