Bank of Italy blocks all electronic payments following Vatican City's failure to fully comply with international anti-money laundering rules

The nation's overall car market recorded new registrations of no more than 1.4m vehicles in 2012 – a level that was last seen in 1979

Lincoln and Cadillac will be revamped after losing ground to foreign brands, but there are concerns this may not have come in time to stop decline

The horizon may be brighter, but the industry's journey through boom and bust is likely to remain choppy at best

The Libor issue added impetus to UBS dropping its long-standing plan to become a global full-service investment banking powerhouse

Despite the slump in M&A in the sector in 2012, talk has been rekindled over potential for takeovers with some majors, says Anousha Sakoui

Firms weigh IAASB proposal for auditor's commentary on uncertainties facing companies amid criticism of lifeless ‘pass or fail' pronouncements

European manufacturers need help compensating for depressed local markets, while Chinese and US sales advance

Retailer will make an official announcement and discuss last-ditch measures to avoid closure after cancelling the lease on its Champs-Elysées site

Spain's largest bank by assets seeks agreement on job losses, as it declines to comment on Spanish media reports of plans to cut 3,000 workers

Switzerland's oldest private bank is to cease operations having agreed to pay $57.8m over charges that it helped Americans to evade paying $1.2bn in tax

Sales of new cars in the UK reach their highest level since 2008 with growth improving throughout the year but level is still lower than pre-recession