Property magnates Robert and Vincent Tchenguiz today said they were "co-operating fully" after being arrested as part of an international fraud probe into the collapse of failed Icelandic bank Kaupthing.

British property tycoons Robert and Vincent Tchenguiz were arrested today as part of an international fraud probe into the collapse of Icelandic bank Kaupthing, sources said.

Seven men have been arrested in the UK in connection with the collapse of Icelandic bank Kaupthing, the Serious Fraud Office (SFO) said today.

London: Creditors of failed Icelandic lender Kaupthing Bank may get their claims settled in about a year as the bank’s winding-up committee looks into the option of swapping debt for equity.

The owner of fashion chains including Oasis, Coast and Warehouse today said it was accelerating its growth plans after a successful half-year performance.

CREDITORS of the Icelandic Landsbanki bank will get very little return on their investments after preferential shareholders are dealt with.

The former chairman of Iceland’s largest bank, which failed badly in the early days of the world financial crisis, will be questioned today after returning to the country, it was reported.

THREE banks have taken a substantial stake in the Ballsbridge hotels, which were bought by property developer Sean Dunne for a record €375 million in 2005. The three hotels are in Dublin 4.

Iceland decided today to repay Britain and the Netherlands the billions it borrowed to compensate savers in those countries who lost funds in the collapse of an Icelandic internet bank last year.

NAMA needs developers if it is to work, writes Political Correspondent Conor Ryan.

The “vast majority” of the 2,300 jobs at UK high street fashion retailer Principles are expected to go, sources said today.

Around 2,300 retail jobs in Ireland and the UK were under threat tonight after it emerged administrators had failed to secure a buyer for the Principles chain.

Sportswear chain JJB Sports today confirmed “a number” of potential bidders had expressed interest in its chain of fitness clubs.

Ailing retailer JJB Sports today said it had suspended its chief executive pending an investigation into “certain matters”.

JJB Sports founder David Whelan was today being linked to a £100m (€117m) bid for the ailing sportswear firm’s health club chain.

A busy week for UK blue-chip results sees figures from Vodafone, BT and Sainsbury’s, while the Bank of England’s latest economic forecasts are likely to make grim reading.

British savers who stand to lose millions of pounds through the collapse of the offshore arm of an Icelandic bank received a boost today when a liquidation hearing was postponed.

British building society, Barnsley Building Society, is to merge with its larger rival Yorkshire Building Society after being exposed to losses from the collapse of the Icelandic banks.

London’s FTSE 100 Index today slumped almost 9% to cap the worst week for blue chip shares since “Black Monday” in 1987.

Crisis-hit Iceland suspended trading on its stock exchange until Monday today.

The Icelandic government took control of the country’s largest bank, Kaupthing, today as it struggled to prevent a collapse in its entire banking system.

The financial crisis engulfing Iceland showed no sign of easing today.

Iceland nationalised its second-largest bank today under new emergency legislation as it moved to get a grip on the escalating economic crisis.

Russia today pledged a €4bn loan to bolster Iceland’s foreign exchange reserves.

Iceland’s banks face a battle for survival today, after the country’s government introduced emergency legislation giving it sweeping new powers over the collapsing financial sector.

The Icelandic Stock Exchange today halted share trading in six major financial institutions as the government said it was drafting a plan to deal with the financial crisis engulfing the Nordic country.

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.

Contrasting fortunes for mining and media stocks left the FTSE 100 Index close to its opening mark today.

Northern Rock’s potential rescuer has a strong record of snapping up stricken companies and nursing them back to health, often for big rewards.

The owner of the Bella Italia and Cafe Rouge chains hit back today in the bidding war for Spanish tapas restaurant business La Tasca.

Brewer Scottish & Newcastle saw its shares enjoy a late surge today on rumours of possible bid interest from Heineken or Carlsberg.

British fashion chain Jane Norman was today sold for £117.4m (€170.4m), in the latest deal involving the Icelandic investment group Baugur.

An Icelandic investment group is building up a shareholding in struggling retailer Marks & Spencer, according to a report.

A key player in recent takeover activity on Irish and British high streets has lined up a £1bn (€1.4bn) war chest for a major deal of its own, it was reported today.

Musgrave will face a new rival in their battle for convenience store business Londis this week with the launch of another £60m (€90m) bid for the group, it was reported today.

MUSGRAVE’S bid for the British Londis chain of convenience stores may be derailed for a second time.

Shopkeepers at the centre of a long-running battle for convenience store chain Londis were today being courted by a second £60m (€90m) bidder.