British businesses believe the country could be headed for a double-dip recession, according to a survey from accountants and business advisors BDO LLP published on Monday. BDO's optimism index — which reflects how businesses expect trading to develop two quarters ahead — tumbled to 93.1 in August from 95.5 in July, reaching levels not seen

The average pay of junior executives working in the City of London financial sector rose sharply over the summer, a survey by financial services recruitment firm Astbury Marsden said on Monday. The survey said average base salaries for City workers at assistant vice president (AVP) level increased by 12% from last year to 70,480 pounds.

European Central Bank executive board member Lorenzo Bini Smaghi warned of a looming debt crunch in several developed countries that could cripple economies if left unchecked. Although deficits are expected to start narrowing gradually next year, some major economies face a bleak picture, with the United States for example looking at debt to gross domestic

German group ThyssenKrupp said talks with Greece on the future of its Hellenic Shipyards unit were at a make-or-break stage after the Greek navy backed off from a deal on the country's largest shipyard. At stake is around 320 mln euros which ThyssenKrupp will get from Greece for six submarines, settling a long-standing dispute over

The British government said on Friday it planned legislation this year to privatise state-owned postal delivery company Royal Mail, despite opposition from trades unions. The commitment came following an updated independent review of the sector conducted by former regulator Richard Hooper who said that private sector capital was required to help ensure the survival of

Greece's austerity measures are hurting revenues and hindering deficit-cutting efforts while more jobs are lost, fresh economic data showed on Friday. Heavy debt payments and weak revenues weighed on the budget amid a deepening recession, with the deficit falling behind a full-year reduction target in the year to August, for the first time since the

A new five-year deal between ABC, Australia's national broadcaster, and Ericsson will help hundreds of thousands of Australians living in rural communities who are currently unable to access the same free-to-air, high-quality, digital TV experience as their urban counterparts. Thanks to Ericsson's latest satellite video compression technology, ABC will be able to expand the reach

The Greek tourist product is showing great endurance despite the negative events occuring in the current tourist season, according to data processed and published on Tuesday by the Federation of Greek Tourist Enterprises from the country's 13 main airports. More specifically, at the country's most important airports over the January-August period a decrease of 1.02

Greece fell to the 83rd place in the global competitiveness index of the World Economic Forum this year, down from 71st in 2009, reflecting a worsening of the macro-economic environment in the country. A WEF report stated that the worsening macro-economic environment combined with the “poor” operation of institutions and low-market efficiency pushed Greece lower