The Governor of the Bank of England launched an unprecedented attack on German austerity, warning that the failure of wealthy states to help poorer countries risked trapping the Eurozone in “another lost decade”, The Times reports.

The Times

Bank Chief condemns German austerity: The Governor of the Bank of England launched an unprecedented attack on German austerity, warning that the failure of wealthy states to help poorer countries risked trapping the Eurozone in “another lost decade”.

shuts 43 stores in national cutback: Nearly 2,000 workers have been told their jobs are in jeopardy after the chain named 43 supermarkets that are to shut in a shake-up aimed at reviving the company’s finances.

Banks on the hook over rip-off interest rate caps: Thousands of small businesses will be told that they may have been mis-sold interest rate caps by their lenders, potentially putting the country’s largest banks on the hook for at least £1 billion in new compensation payouts.

Saga buys Bennetts for the older easy rider: Motorcycling’s growing appeal to the middle-aged rider such as Hugh Laurie, above, was underlined when a leading specialist insurance broker was snapped up by Saga, the over-50s services provider.

Shell commits $11 billion to huge Iraqi project: Iraq and Shell have agreed an $11 billion deal that promises to make the country the biggest petrochemical producer in the Middle East.

City launders ‘billions of pounds a day’: Billions of pounds of criminal assets are laundered through the City of London every day, the man leading Britain’s fight against organised crime says.

Fracking ban could push up energy prices: Householders in Scotland could be landed with higher energy bills, it was claimed, after SNP Ministers imposed an indefinite ban on fracking.

Tax bill lies behind £20 million Asos share sale: The co-Founder and Chief Executive of Asos has sold £20 million of shares in the online clothes boutique in spite of a torrid 12 months during which profit warnings depressed the company’s stock price.

Bite of makes for a stronger ARM: Soaring iPhone sales pushed the shares in a British microchip designer to their highest level in more than a year.

The Independent

Bank of England Governor Mark Carney urges Eurozone to spend its way out of stagnation: The Bank of England’s Governor took the unusual step of urging the Eurozone to spend more to help the bloc break the grip of stagnation and deflation.

China admits to delaying criticism of retailer Alibaba: The Chinese government has published a critical report about Alibaba, admitting it had withheld the document until now because of the internet retailer’s multibillion-dollar U.S. stock flotation.

The Daily Telegraph

Markets tumble as Greek government begins to backtrack on austerity: Greek markets were thrown into deeper chaos on Wednesday as investors feared that the new, anti-bailout government would enact radical reforms that could jeopardise the country’s future in the Eurozone.

Premier League faces bid to block rights auction from : has launched an 11th-hour bid to block the Premier League’s multibillion-pound auction of live broadcast rights by asking regulators to use emergency powers to protect consumers.

Interest rates may not hit 2.5% until mid-2019, says Bank of England: The Bank of England may put up interest rates by no more than 0.5% a year - and not return to anything like pre-crisis levels for the foreseeable future, according its Chief economist.

Commodities collapse could wipe out entire year’s profits at : faces losing a year’s profits from the recent collapse in commodity prices as loan defaults spike in a repeat of the 1980s crisis, according to the Australian bank Macquarie.

McDonald’s names U.K.-born Steve Easterbrook as new Chief Executive: McDonald’s has named U.K.-born Steve Easterbrook as its new Chief Executive and President after Don Thompson stepped down amid falling sales.

revenues pass $10 billion for the first time: revenues rose above $10 billion for the first time in 2014 after the social network made more money in the past three months than analysts were expecting.

The Guardian

Canary Wharf to be bought by Qatar Investment Authority: Canary Wharf is to be bought by Qatar’s sovereign wealth fund and Canadian investor Brookfield Properties for £2.6 billion, after Songbird, the Owner of the Docklands estate, admitted defeat.

smashes corporate profits record after soaring iPhone sales: has smashed into the record books by reporting the largest quarterly profit in corporate history.

High-net-worth individuals own 38% of U.K.’s total wealth, report says: Britain is home to 840,000 people who are dollar millionaires with £660,000 or more excluding their main home – a combined wealth of $3.5tn (£2.3tn).

Federal Reserve paves way for earlier-than-expected increase in interest rates: The Federal Reserve appeared to be paving the way for an earlier-than-expected increase in interest rates on Wednesday night, as it highlighted the recent strength of the U.S. economy.

sells off Gulf of Mexico stakes to raise cash and reduce risk: is selling off a stake in two promising discoveries in the Gulf of Mexico and transferring their operation to a U.S. group in its latest attempt to raise cash and reduce its exposure to challenging deep-water drilling risks.

Macau records higher tourism receipts than U.K. or Italy: China’s tiny gambling haven Macau recorded higher tourism receipts in 2013 than the U.K. or Italy, according to a report by the United Nations World Tourism Organisation (UNWTO).

Waitrose scraps free tea and coffee for cafe table-hoggers: Waitrose is scrapping a free-for-all which allowed loyalty card holders to drink free tea and coffee while sitting in its cafes – even if they had bought nothing else.

Daily Mail

Flat profits at Swedish furniture giant Ikea despite 6% jump in sales last year: Profits at Swedish giant Ikea were as flat as its flat-pack furniture despite a near 6% jump in sales for the year.

Panic selling plunges Greek financial markets into chaos as Eurozone membership balances on a knife-edge: Panic selling plunged Greek financial markets into chaos on Wednesday as the country’s membership of the Eurozone hung in the balance.

Suitors could force through BHS break up as Sir Philip Green says he is open to offers ‘if something turns up’: A raft of retailers and private equity firms are running the rule over Sir Philip Green’s loss-making BHS after the billionaire in effect put the 180-store chain up for sale.

Dwindling commodity prices corrode mining giants as Glencore announces closures and reveals £3 billion write-down: Sinking commodity prices corroded Footsie miners as revealed plans for a $5billion (£3.3billion) write down and Glencore announced mine closures.

push to keep customers’ water bills down by cutting payouts to investors by 5%: push to keep customers’ water bills down by cutting payouts to investors by 5%

Experian rolls out bumper deal for investors with plans to buy back nearly £400 million worth of shares: Experian has rolled out a bumper deal for shareholders, with plans to buy back almost £400 million of shares and up annual dividends.

Daily Express

Smart heat is firing up firm’s future: British manufacturer, whose smart heating controls cut businesses’ energy bills, is set to double its overseas supply network as sales improve across the board.

Big four banks face almighty challenge: After years of moaning about the big high-street banks, disgruntled customers are voting with their feet and switching in growing numbers.

The Scottish Herald

Boss ‘delighted’ Irn-Bru helped nurse as she fought off Ebola: The Chief Executive of Irn-Bru manufacturer has expressed his “delight” that the soft drink helped Scottish nurse Pauline Cafferkey as she fought off the deadly Ebola virus, and revealed his surprise at the weekend newspaper headlines.

Investor laments property company performance: An investment company which this week alleged it faces significant losses following the collapse of pub chain Maclay Group has been criticised by shareholders for its “disappointing” performance.

Retailer eyes growth in face of supermarket competition: Convenience store retailer CJ Lang & Son has said it has significant growth opportunities in spite of uncertainty about consumer spending and increasing competition from supermarkets.

Scottish exports fell 0.5% last year: Exports from Scotland have fallen back over the last year, despite an increase in the most recent quarter, new figures have revealed.

Scottish Water increased charges by 1.6%: Water charges for Scottish households are to rise for the third year in a row.

The Scotsman

’s closures put 326 Scottish jobs at risk: More than 300 jobs are at risk after said it would be closing four Scottish stores over the coming months in a move described by union leaders as a “devastating” blow for workers.

H&M to announce new stores following profits surge: Fashion giant H&M has reported a surge in annual profits after opening more than one new store a day in the past year.

Glasgow property sector to build on Games legacy: Above average economic growth and the legacy of the Commonwealth Games should ensure the Scottish property sector continues to recover in 2015, according to research published by GVA and Santander.

City A.M.

FXCM set to bail small traders hit by the franc: Small-time spread betters who were crushed by the Swiss francs wild swings two weeks ago will be bailed out, forex website FXCM said.

Elis planning a €700 million fundraise on French market in February: French industrial laundry company Elis, 83% owned by investment group Eurazeo, set an indicative price range for its stock float of €12 to €19 a share.

Shares take off at Boeing: Boeing shares rose 5.4% on Wall Street, after beating cash flow expectations. The airline manufacturer said 2014 fourth quarter profits were up 23% to $1.47 billion (£970 million) on the back of a record 1,432 net orders for planes last year, which included the launch of its Boeing 787-9 stretched airline.

Rightster stock rises as its Chief Executive and Founder departs: Aim-listed London technology startup Rightster announced its Chief Executive Charlie Muirhead has stepped down with the firm’s commercial Chief, Patrick Walker, taking over with immediate effect.

gold output drops: Mining company has reported a 2.4% reduction in gold production for 2014, blaming a court-ordered stoppage of its operations at Soledad-Dipolos.