Business headlines

BANKS MAY BE FORCED TO BOOST RESERVES
British banks may have to hold more funds to guard against the risk of a future economic downturn, the Bank of England has proposed.

RUSSIA RAISES INTEREST RATES TO 9.5%
Russia's central bank raises interest rates to 9.5% from 8%, a much bigger rise than expected, as it seeks to combat inflation.

GOVERNMENT TO 'RETIRE' SOME WW1 DEBT
The UK Government has said that it will 'retire' £218m of the UK's £2bn First World War debt by refinancing bonds originally issued by Winston Churchill.

FORMER ANDROID BOSS LEAVES GOOGLE
Andy Rubin steps down from Google, while his former colleague Daniel Graf is demoted at Twitter

EUROZONE INFLATION EDGES UP TO 0.4%
Inflation in the eurozone rose slightly in October, giving some hope that the spectre of deflation can be staved off.

BOJ BOOSTS MONETARY STIMULUS MEASURE
Japan's central bank, the Bank of Japan, surprises markets by announcing an expansion of its monetary stimulus policy.

RBS RESERVES £400M FOR CURRENCY PROBE
Royal Bank of Scotland sets aside £400m to cover potential costs from an investigation into possible manipulation of the foreign exchange market.

FTSE UP ON BANK NEWS AND JAPAN MOVE
The FTSE 100 rises more than 1% as investors breathed a sigh of relief over Bank of England plans for capital reserves and welcomed news of a stimulus boost from the Bank of Japan.

HUNGARY SCRAPS CONTROVERSIAL WEB TAX
Hungary shelves a proposed tax on internet data traffic after tens of thousands of Hungarians marched against it.

BA OWNER RAISES PROFIT FORECAST
The parent company of British Airways, IAG, raises its profit forecast after it reports a 30% increase in third-quarter profits.