Britain risks ending up like Greece if the Government abandons its cuts programme in response to the collapse of the euro, a report by Conservative backbenchers has warned.

More than 10% of shareholder votes have gone against HSBC's pay report at its annual meeting after the banking giant's boss took home £7.5 million in pay and bonuses last year.

A former security chief at Lloyds Banking Group is to be prosecuted over an alleged £2.5 million fraud.

PC World and Currys owner Dixons Retail Group has received the backing of its banks with a new £300 million lending facility.

London's leading index was broadly flat on Friday as fears over Europe's banks were offset by a strong consumer confidence survey on the other side of the Atlantic.

The board of directors of troubled Spanish bank Bankia says it has agreed to ask for 19 billion euro (£15.19 billion) in state funds.

Department store John Lewis highlighted the pressure on fashion retailers despite reporting another double-digit rise in sales.

Morgan Stanley, the lead investment bank in Facebook's troubled initial public offering, will compensate retail investors who overpaid when they bought stock in the social network site's flotation, a person familiar with the matter said.

Menswear retailer Moss Bros has hailed its new-look stores as it unveiled plans to revamp a further 10 sites in the wake of another surge in sales.

The Government is being urged to cut hidden credit and debit card costs which are said to be "strangling" UK retailers, following a European court ruling against MasterCard.

Fashion-conscious men have helped Asos end the year in style as the online clothing retailer nearly doubled its annual profits.

Cathedral City, Clover and Country Life maker Dairy Crest has slumped to a £10.1 million loss after an "unsatisfactory" year at its milk division.