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Brussels praises Greek cuts vote: The European Commission welcomes Greece's approval of tough austerity measures, needed for a massive bailout package, which sparked riots in Athens on Sunday.

First-time buyer numbers pick up: The number of mortgages agreed for first-time house buyers picked up at the end of 2011, the Council of Mortgage Lenders (CML) said.

Bank lending fell for all of 2011: Bank of England figures show that net lending from the UK's five largest banks fell every quarter last year, as the Project Merlin commitments come to an end.

UK economy 'to avoid double-dip': The UK will avoid a double dip recession, the employers organisation the CBI says, but two surveys suggest the economy may worsen.

Obama budget plan to tax the rich: US President Obama aims to raise taxes on millionaires as he unveils his budget later, prompting an election year fiscal fight with Republicans.

Nigerians living in poverty rise: Poverty rises in Nigeria, with almost 100 million people living on less than a $1 a day, despite strong economic growth, statistics show.

Rangers make administration move: Rangers Football Club lodges legal papers signalling its intention to go into administration.

Apple stock hits $500 milestone: Shares in technology giant Apple cross $500 (£317) a share for the first time.

EU 'risks trade war' over carbon: The European Union's carbon trading scheme may spark a trade war, according to one of the world's biggest planemakers.

Celtic announces big profits fall: Celtic Football Club announces a big fall in pre-tax profits for the second half of 2011, making only £180,000.

Printers vote for 13.5% pay cut: Workers at the Goodhead Group, one of the UK's biggest magazine printing firms, have voted to accept a 13.5% cut in their basic pay rates.

Cable & Wireless up on bid hopes: Share in telecoms company Cable & Wireless Worldwide (CWW) jump 29% on Monday after Vodafone says it is considering bidding for the firm.

China's Xi Jinping in US visit: The man likely to become China's next leader, Vice-President Xi Jinping, is set to begin a closely watched visit to the United States.

Italian short-term debt cost dips: Italy successfully sells 12bn euros (£10bn) of short-term Treasury bills at a lower price than in a similar auction in January.

Japan economy worse than forecast: Japan's economy shrinks more than expected between October and December as a rising yen and floods in Thailand hurt businesses.

Bonuses in public sector reviewed: The government ordered a review of bonuses in the public sector to ensure they are "fit for purpose", amid public anger at the size of some payments.

Olympus reports a 33bn-yen loss: Cameramaker Olympus reports a loss for the nine months to the end of December 2011 as the company battles an accounting scandal.

'Worthless' car warranty warning: A car warranties firm has collapsed leaving some customers with worthless policies, a BBC Wales investigation finds.

Pensioners miss weather payments: Up to 1.6 million pensioners are failing to claim benefits they are entitled to - including financial help during the cold snap.

'Energy literacy' to be examined: The "energy literacy" of gas and electricity billpayers will be tested during an inquiry by MPs to see if more education is needed from the industry.