British discount department store chain TJ Hughes has been sold to its management in a private equity-backed deal.

France will head into recession by early next year as rising unemployment and the fallout of the financial crisis prove too much for the eurozone’s second largest economy, the national statistics agency predicted today.

The Icelandic government was today reported to be in crisis talks with the country's central bank over moves to prop up the banking sector.

IRISH companies can expect a tougher operating environment over the coming years but Ireland will remain a good place to do business.