Zoe Cruz, one of the most powerful women on Wall Street, joined the credit crunch casualty list last night when Morgan Stanley announced she was leaving after 25 years. Read the articlePhotograph: APThe Bank of England announced it would provide £10bn in emergency funds to the UK's commercial banks in an attempt to prevent a severe worsening of the credit crunch over the Christmas period. The Bank's governor, Mervyn King, told MPs on the Treasury select committee that further action might be needed over the coming weeks. Read the article.Photograph: PAA trio of British bankers dubbed the ‘Natwest Three’ face 37 months in prison after pleading guilty to stealing $7.3m (£4m) in a sophisticated fraud tied to the collapse of the energy trading behemoth Enron. Read the articlePhotograph: Steve Ueckert/AP
HSBC was accused of misleading shareholders when asked to support a share incentive scheme for senior management that could pay millions of pounds in bonuses. Read the articlePhotograph: GettyRio Tinto has come under intense scrutiny as it lays out the value of the group in its defence against BHP Billiton's mega-merger proposal. Read the articlePhotograph: Ian Waldie/GettyTelecoms executives were called to a meeting on Monday with the government and the regulator, Ofcom, to thrash out a plan to stop Britain slipping behind in the global broadband league. Read the articlePhotograph: Gamma Ray Studio Inc/GettyPrudential has agreed a £722m outsourcing deal with back-office operator Capita that will see the transfer of 3,000 jobs in the UK and India. Read the articlePhotograph: David Parry/NewscastSales on the high street suffered their worst ever fall last month, adding to evidence that the UK is heading into recession. JJB Sports said it was cautious about a 'very challenging' second half of the yearPhotograph: Jason Alden/NewscastThe internet search engine Google has been named as Britain's top 'superbrand', after it beat Microsoft for the premier spot, according to a YouGov survey Photograph: David Paul Morris/GettyA South Africa-based company has launched an offer in the UK to allow consumers to download the Old and New Testaments by text message for £6 each. Read the articlePhotograph: GettyHouse prices fell by 0.8% in November, the UK's biggest building society said today, the largest monthly fall it has reported in more than 12 years. Read the articlePhotograph: Graham Turner/GuardianThursday: The B&Q chain suffered a drop in sales of almost 6% and parent company Kingfisher admitted a 'big bounce' was unlikely even next year Photograph: Jason Alden/NewscastPeter Mandelson, EU trade commissioner, caused a storm in China yesterday by accusing the authorities of failing to tackle a 'tidal wave' of counterfeit goods and turning a blind eye to the theft of European firms' innovations and patents. Read the articlePhotograph: Oded Balilty/Getty
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