A Swedish businessman accused of stealing a rare Ferrari he had shipped from Britain and wrecking it on California’s Pacific Coast Highway will stand trial on embezzlement, theft and other charges.

The FTSE 100 Index saw hopes of its highest finish in four years extinguished today by news that the United States had stockpiled more oil than traders thought.

The head of Barclays’ UK operation sparked a major reshuffle at the banking giant today by announcing plans to quit his £1.3m (€1.9m) a year job.

Mobile phone giant Vodafone helped the FTSE 100 Index soar to a fresh four-year high today as investors cheered news on customer numbers in Japan.