Co-chief executives vow to overhaul investment banking culture and crack down on high levels of pay as German bank seeks €3bn in cost savings

Friedrich Joussen, who led Vodafone's German unit for seven years, will replace Michael Frenzel as the travel group's new head in February 2013

Shares rise after the Franco-German airline forecast that cost cutting will help improve its performance in the second half of the year

German retailer confirms full-year guidance after revenues rose 2% in the second quarter, helped by growth in eastern Europe and Asia

State-backed French group seeks to ease investor concerns about the probable expense of the programme to renew Britain's atomic power plants

Swiss bank to take legal action against Nasdaq after taking SFr349m charge related to IPO that dragged its investment banking unit to a loss

Investors cheered despite profits halving in second half as the Bilbao-based bank sets aside €1.4bn against bad domestic property loans

Irish airline predicts that Brussels will block its low-cost rival's third takeover offer in six years over fears it could reduce competition

Higher distribution expenses in the US alongside bad weather in the UK and Belgium and regulation costs in Russia see brewer's earnings fall 4%

Ben Verwaayen tells FT that equipment maker was ‘too optimistic' on targets and must overhaul itself to compete in a smaller, less predictable market

Lender to take hit from €286m in charges after offloading 96 per cent stake in Ukraine's Bank Forum to Ukrainian Smart Group

Leading Russian opposition leader Alexei Navalny calls charge ‘absurd' and claims prosecutors have changed previous accusation