The boss of HSBC has said the bank is on course to move 1,000 jobs from its London business to Paris after British Prime Minister Theresa May confirmed Britain will scrap its single market membership after Brexit.

Deutsche Bank’s shares and its riskiest bonds dropped the most since the Brexit vote yesterday after the lender said the US Justice Department is seeking $14bn (€12.55bn) to settle a probe tied to mortgage-backed securities, more money than the bank is willing to pay.

A UK vote in favour of leaving the EU would be the most significant geopolitical event for the Continent since the end of World War II and could prompt Morgan Stanley to move its local headquarters to Dublin or Frankfurt from London, according to the bank’s president Colm Kelleher.

Mark Carney will face a policy quandary if Britain votes to leave the European Union this week, according to former Bank of England deputy governor John Gieve.

A Dáil vote on permanently abolishing water charges could be held as early as next April, according to the government-support deal agreed between Fianna Fáil and Fine Gael.

Ryanair is battling lower fares in the first months of its financial year, weighed down by French air-traffic controller strikes and by travellers’ concerns about a future terrorist incident following last month’s bombings in Brussels.

Christine Lagarde has picked up nominations from across Europe for a second term as leader of the International Monetary Fund (IMF) as part of a selection process that member nations intend to complete by early March.

Volatility in the world’s wildest stock market is finally receding. If that is one argument for buying Chinese shares, Bocom International Holdings’ Hao Hong has a long list of reasons why you should steer clear.

Sterling advanced yesterday approaching its strongest level in three weeks against the euro, after Bank of England policymakers said China’s slowdown hasn’t shaken their conviction that the time for the first UK interest-rate increase since 2007 is coming nearer.

Yanis Varoufakis said Greece won’t “extend and pretend” that it can pay its debts, vowing to quit as finance minister if voters don’t support him in Sunday’s referendum.

US billionaire Wilbur Ross, who made a €500m profit buying shares in Bank of Ireland at the height of the country’s financial crisis, has ruled out investing in Permanent TSB, the only Irish lender to fail European stress tests last month.

Euro-area bond yields near record lows are leading governments to be complacent, according to Standard and Poor’s head of sovereign ratings Moritz Kraemer.

To German finance minister Wolfgang Schäuble, the European Central Bank is at the end of the road.

Eurozone austerity policies to tackle the region’s debt crisis have been a "dismal failure" as economic growth grinds to a halt, Nobel laureate Joseph Stiglitz said.

European Central Bank president Mario Draghi said a further appreciation of the euro would trigger more monetary stimulus in his strongest warning yet about the region’s rising currency.

Finance Minister Michael Noonan said the Government may seek to sell a stake in Allied Irish Bank before the country’s next scheduled election.

Portugal’s government bonds advanced, with 10-year yields dropping below 5% for the first time since August 2010, as a recovery in the region’s most indebted economies attracted investors.

The European Central Bank favours requiring banks to show they can retain capital worth 6% of their assets when it puts them through a simulated recession later this year, said two euro-area officials with knowledge of the matter.

Finance Minister Michael Noonan says he hopes Moody’s Investors Service will raise the nation’s credit rating from non-investment grade as the country exits its bailout programme and plans debt sales.

BlackRock chief executive Laurence Fink, who last year said he would invest 100% of his personal wealth in equities, said stock markets may decline as a result of the political debate over the debt ceiling.

Telecommunicationsbillionaire Denis O’Brien has ruled out selling shares in Digicel Group Ltd to the public “at the moment”.

Russia won’t bail out people or companies that stand to lose money held at Cyprus’s two largest banks, first deputy prime minister Igor Shuvalov said.

Bank of America is in talks with regulators to transfer about $50bn (€37bn) of its derivatives business from its Irish unit into its UK operation, according to sources.

I have the ultimate hot tip if you’re obsessing over what to do with your portfolio in 2013: Ignore all the “How to Invest in 2013” nonsense that you see in magazines, blogs, and on business television this time of year.

Stocks closed little changed on Wall Street last night as budget talks continued in Washington.

Confidence in the German economy has unexpectedly surged following six consecutive decreases.

Telecommunications and media billionaire Denis O’Brien said he would invest in Bank of Ireland Plc, as it has “cleaned up its balance sheet.”

Timothy Geithner said he will not serve President Barack Obama as Treasury Secretary in a second term.

IRELAND plans to become the first European nation to sell sovereign sukuk — Islam-approved financial certificates — as its equal tax treatment for Islamic-finance products attracts investors.

FINANCE Minister Michael Noonan has been accused of scaremongering the electorate after saying any referendum on the new EU deal would be a vote on whether to stay in the euro or not.

IRELAND’S biggest company — CRH Plc — is making contingency plans for a possible break-up of the euro as the debt crisis crimps sales growth in the region.

BP, the operator of the Gulf of Mexico well that caused the worst ever US oil spill last year, said profit declined less than expected as it increased an asset sales target 50% to $45 billion (€32.3bn).

EUROPEAN stocks sank the most in fourth months, extending an 11-month low, amid concern the US recovery is faltering and the world’s largest economy may lose its top credit rating.

GENERAL ELECTRIC posted second-quarter earnings that beat analysts’ estimates, buoyed by itsfinance unit, as the industrial order backlog rose to a record level.

New York: Billionaire Warren Buffett said he is wagering on continued economic expansion and doesn’t expect a second recession.

GERMANY will probably back down in its battle with the European Central Bank over a new aid package for Greece rather than risk a breakup of the euro, said Andrew Bosomworth, a fund manager at Pacific Investment Management.

YIELDS on government securities from Greece, Ireland and Portugal reached records amid speculation the heavily indebted nations won’t be able to avoid restructuring.

EUROPE’S debt crisis won’t be resolved until a number of country’s restructure their debt and clean up their banks’ balance sheets, said Citigroup chief economist Willem Buiter.

Dublin: Anglo Irish Bank chairman Alan Dukes said the bank has lost about €12 billion of deposits this year.

THE cost of borrowing for the country continues to hit record highs, peaking at 9.25% yesterday, despite pledges of support from Europe.

AS the Government prepares to put a final cost on the Anglo Irish Bank rescue, rating agency Standard & Poor’s warned the total cost of the bailout could be higher than its initial €35 billion estimate.