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A Welsh MP echoes concerns of a former UK sports minister on the benefits of the London Olympics to the rest of the country.

Chancellor Alistair Darling warns people not to expect a "giveaway" when he unveils his Budget later this month.

A report into the collapse of US bank Lehman Brothers criticises senior executives and auditor Ernst & Young for serious lapses.

The US trade deficit narrowed unexpectedly in January as fewer foreign cars and less crude oil were imported.

New York and London have been ranked as the joint-top global financial centres according to new research.

The UK announces a 300m-euro (£270m) loan guarantee for Vauxhall and Opel, the European arm of General Motors.

News supplied by BBC

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