- Investment bank JPMorgan has now doubled its estimated losses on last month's catastrophic hedge trades.
- Stat of the day: 13%. The number of young people out of work across the globe. And the crisis will stay at this level until 2016, says the International Labour Organisation.
- Quote of the day: 'I wasn't satisfied with the performance in the UK and I won't take the bonus.' Tesco chief exec Philip Clarke has declined his annual bonus after the supermarket giant posted poor results for the year. Tesco's shrinking profitability in the UK has seen the chain lose a quarter of its share value in the past financial year. Clarke's £372,000 pay-out will remain in company coffers until performance improves.
- High streets across the UK have had their worst April for more than two years as heavy rain shrinks consumer footfall.
- Despite rocketing fuel costs and the eurozone recession, Ryanair has pulled record profits of more than €0.5bn out of the bag.
- Profits at All Bar One owner Mitchell & Butlers have shrunk. Must be all that rain.
- Quote of the day: 'We are just on the verge of space [tourism] moving from what people might think of as 'Star Trek' fantasy to the start of something more realistic.' The Institute of Directors is calling on UK entrepreneurs to invest in space travel now, rather than risk being left behind. The going rate for a ticket up, up and away is £125,000 and various consortiums have already started making moves in the sector - the Google founders, for one.
- Stat of the day: £50m. UK pig farmers have struck a £50m trade deal to sell their pork to China. That's some serious coin(k).
- Social networking site Pinterest has raised $100m, valuing the two-year old business at £1.5bn.
- Greece's default looms large and Bankia teeters. Meanwhile, France attempts to edge away from the abyss.
- Thousands of jobs have been safeguarded at the 50-year-old Ellesmere Port plant today after General Motors announced it is to manufacture the new Vauxhall Astra in the UK.
- The off-the-peg website and online shop builder has been bought e-lock, stock and barrel by Yell for £18m with a £5.2m pay-out for the executive team after two years.
- The pasty retailer has reported a 1.8% drop in like-for-like sales in the 19 weeks to May 12 after miserable weather dampened consumer spending.
- Stat of the day: £2bn. A new report ranks British workers as 'the worst offenders' in office theft, taking home some £2bn a year in biros, lever arch files, even laptops.
- Quote of the day: 'There is no writer working in Hollywood today who is more capable of capturing such an extraordinary life for the screen,' reckons Amy Pascal, co-chairman of Sony Pictures Entertainment. That life is that of Apple co-founder Steve Jobs, and that writer is none author than Aaron Sorkin, the man who created box office smash The Social Network, recounting the tale of Facebook's nascency and the rise of founder Mark Zuckerberg. 'We're confident that the film will be everything that Jobs himself was: captivating, entertaining, and polarizing,' adds Pascal.
- A tiny fraction of the UK's small business community accounts for two thirds of all private sector employment, a new report revealed today.
- The eurozone has narrowly avoided the dreaded double dip as Eurostat reports zero growth in first quarter GDP.
- The daily deals service has slashed losses by 96% in the first quarter by cutting marketing spend and bumping up revenues 89% year-on-year.
- The founders of quirky nightspots Barts and Maggie's on the speakeasy culture, supporting local businesses, and their latest venture, the wackily named Bunga Bunga.
- More bad news on the Continent as shares plummet and eurozone industrial production figures put the bloc deeper into recession.
