Commerzbank AG, the German bank forced into an €18.2bn bailout, jumped the most since Oct 2011 in Frankfurt trading after second-quarter earnings fell less than analysts estimated.

Royal Bank of Scotland Group, Britain’s biggest taxpayer-owned lender, is being investigated by the Federal Reserve and Justice Department for potentially violating sanctions against Iran.

Ratings agency Moody’s has today downgraded seven banks in Germany, citing risks from the eurozone debt crisis and prospects of weaker global economic growth.

European Central Bank president Mario Draghi left open the option of further stimulus if the economy continues to deteriorate as investors await the outcome of elections in Greece and France.

Markets calmed yesterday as investors’ concerns eased a little about the uncertainties created by potential changes in the French and Dutch governments.

THE European Central Bank said it will lend dollars to eurozone banks in a series of three-month loans as the region’s debt crisis limits market access to the US currency.

THE European Central Bank spent a record amount on government bonds last week as it began buying Italian and Spanish securities to contain the debt crisis.

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

INVESTORS are taking a more favourable view of the Irish economy due to Government action in the budget, resulting in a fall in the cost of state borrowing.

AMERICAN football tycoon Malcolm Glazer has increased his stake in Manchester United, prompting increased speculation of an imminent takeover.

Commerzbank AG reiterated its intention to divest its stake of around 4% in Credit Lyonnais SA, after BNP Paribas bought the French government's 11% stake in the bank at the weekend.

KirchMedia will not name the shortlisted bidders who will progress to the final round of the auction for its assets, or comment on the next step in the process at all, a spokesman for the insolvent German media concern said.

Germany’s Commerzbank AG today said it will axe about 3,400 jobs by 2003 in a cost-cutting effort.

A Scottish-based software company has announced a £12m package to develop plans which could see credit cards replaced by mobile phones.