Baumgertner will be detained and investigated in Moscow on charges of abuse of power and embezzlement, though he is expected to be released soon

France reels at sudden reappearance of man convicted 15 years ago for his part in one of bloodiest episodes involving armed leftists to hit Paris

The Anglo-South African financial services group prides itself on being out of the ordinary. But its unorthodox form comes with commonplace problems

The lira has been one of the worst performing emerging markets currencies since May and remains 12 per cent down against the dollar since January

Fundraising led by Technology Crossover Ventures makes digital music service the latest private tech company to hit a multibillion-dollar valuation

Norwegian shipowner John Fredriksen increases his holding in Tui AG, the European tour operator, after selling shares in Tui Travel

Plan to privatise small stakes in eight state-controlled companies include 3% of ENI, and comes as Italy faces EU pressure to cut debt

Andrew Baum, analyst at Citi, said departure of Daniel Vasella had ‘materially elevated the importance of shareholder value within the group'

The plea by the chief of Europe's sixth-biggest private equity group on Thursday was welcomed as groups in Europe and the US face criticism

Experts say the measure will affect even Mittelstand groups – the small and medium-sized businesses which form the backbone of the Swiss economy