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    Last update: December 22, 2009

    +Virgin to name Rock team
      Sir Richard Branson's group to unveil team of bankers it hopes will take over ailing mortgage bank. By Phillip Inman.

    +Sub-prime costs Countrywide
      America's biggest mortgage lender slumps into red for first time in 25 years but sounds optimistic note on future. By Andrew Clark in New York.

    +Political tensions drive oil above $92
      Renewed fears over relations between US and Iran help push oil to new record. By Graeme Wearden.

    +Merrill chairman under fire
      Stan O'Neal's position became increasingly tenuous as he was accused of making a merger approach to a rival bank behind the back of his board of directors. By Andrew Clark in New York.

    +Mobiles for the Masai as world goes crazy for gadgets
      From flat-screen TVs stacked up outside back street shops in Mumbai to Masai tribesmen clutching mobiles, evidence is everywhere that the desire to own consumer electronics devices has gone global. By Richard Wray.

    +Insurer loses ground as it reveals bid
      Closing market update: The latest twists in the takeover battle around insurer Resolution keeps traders on their toes. By Katie Allen

    +Mobile phone company 3 to unveil Skype phone
      Company looks to lure customers onto the UK's newest network with the promise of cheap internet-based calls. By Richard Wray.

    +Wave power company to float on Aim
      Oceanlinx is hoping to raise up to £35m to build six generators, as well as invest in research and development and hire new staff. By David Teather.

    +Scandal-ridden schools close
      Nearly a thousand British language teachers could be without jobs after Japan's largest English language chain Nova filed for court protection from creditors. By Justin McCurry in Tokyo.

    +Don't invite traders to your barbeque
      On America: 'How does it feel taking on the whole market, man?,'BP propane traders asked each other. Andrew Clark explains the price-fixing scandal that brought BP a $303m fine.

    +Takeover Panel gives Qataris two weeks
      The Qatari-backed investment fund stalking J Sainsbury has been told to make a formal offer within a fortnight, but may be struggling to arrange funding for the bid. By Graeme Wearden.

    +BP hit by record fines in American courts
      Oil major to pay US regulators $373.5m over the Texas City explosion, an Alaskan oil spill and for price fixing.

    +Global ill winds to cool UK economy
      Growth in the UK economy is set to fade next year, a leading thinktank predicts today, but consumer spending remains robust. By Josh Havers.

    +UK researcher wants share of pieces of eight
      A new claimant has arrived in the treasure-trove tug-of-war between a shipwreck salvage company and the Spanish government over a $500m haul of silver and gold. By John Sterlicchi in Florida.

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