Standard & Poor's warns that current proposals for restructuring Greece's debt would effectively constitute a default.

The UK's five biggest banks launch a mentoring scheme for small businesses to provide support on issues such as finance and marketing.

Sony has been ranked top in a survey of Asia's most valuable brands.

Australian sales of retail goods such as clothes and shoes fall unexpectedly in May suffering the biggest drop in seven months.

Japanese researchers say they have found vast deposits of rare earth minerals, used in many hi-tech appliances, in the Pacific seabed.

Tiger Airways will hold crisis talks with Australian regulators to try and counter safety claims and resume domestic operations.

Funding of social care in England needs a complete overhaul and the amount people must pay should be capped, an independent review is to recommend.

The Palestinian Authority halves civil servant salaries after Arab donors fail to make good on funding commitments.

Mayor of London Boris Johnson criticises plans for the HS2 high-speed rail link, describing a planned section of the route as "perverse".

Trust chairman Lord Patten says the BBC will announce moves in the next few days to deal with executive pay and restore public trust.