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Tom Lawton, head of manufacturing at BDO, said the data painted a 'depressing picture' of the sector. Photograph: Adrian Sherratt/Alamy UK manufacturers face weakening orders and output as the eurozone crisis continues to buffet Britain's industrial base.A survey from EEF, the manufacturers' organisation, and BDO, published on Monday, found that the majority of firms saw export orders fall in the past three months. Firms exposed to European markets were particularly...

George Osborne told BBC1's Andrew Marr programme that 'it's clearly taking longer to deal with Britain's debts'. Photograph: Handout/Getty Images George Osborne has prepared the ground for a damaging admission in Wednesday's autumn statement that lower than expected growth means he will breach the second of his fiscal targets, on reducing debt as a proportion of national income by the end of the parliament.The chancellor has already admitted he has had to extend the...

George Osborne will have to admit that deficit reduction is off-track and austerity must continue indefinitely. Photograph: Oli Scarff/Getty Images Booed at the Olympics. Author of the worst received budget in memory. In charge when the economy plunged into its first double-dip recession since the 1970s. It has been a year to forget for George Osborne. And it is about to get worse.The biggest week of the chancellor's two and a half year stint at the Treasury began on...

Tim Geithner was on CBS's Face the Nation on Sunday to defend Barack Obama's position over the fiscal cliff. Photograph: CBS news/Reuters Republican leader John Boehner said Sunday he was "flabbergasted" by Treasury secretary Tim Geithner plan to save the nation from the fiscal cliff, in the latest show of brinkmanship over a deal to avert the year end budget crises.His statement came as Washington leaders took to the airwaves amid an escalation in the clash over how...

Sir Richard Branson might sell his majority holding in Virgin Atlantic after a Delta Airlines bid for a 49% stake. Photograph: Gareth Cattermole/Getty Images Sir Richard Branson could sell his controlling stake in Virgin Atlantic after rival Delta Airlines made a bid for nearly half the business. Delta, the biggest US airline, is understood to have offered to buy Singapore Airlines' 49% stake in Virgin Atlantic which could, in turn, lead to a bid to take a majority...

Angela Merkel's authority as took a knock on Friday when 23 members of her coalition voted against a motion approving a two-year extension to Greece’s aid programme. Photograph: Michael Sohn/AP Angela Merkel has given her clearest signal yet that eurozone governments may have to take losses on the Greek debt they own, but only if Athens sticks to a painful programme of economic reforms.Fresh from a bruising victory in the Bundestag over Greece's aid plan, the German...

Glencore CEO Ivan Glasenberg arrives for a shareholder meeting in the Swiss town of Zug last month. Photograph: Arnd Wiegmann/Reuters He's so rich and pays so much tax that every one of his 3,600 neighbours in the picturesque village overlooking Lake Zurich got a 7% tax break, but not everyone in Rüschlikon likes Ivan Glasenberg.The 55-year-old, who had been living quietly in the village for more than a decade, exploded into the public consciousness last year when his...

The Rolling Stones' Sir Mick Jagger, Keith Richards and Charlie Watts perform during a 50th-anniversary gig at the O2 in London. Gig- and festival-goers are aging too. Photograph: Jim Dyson/Redferns/Getty Images It has been one of the most difficult years for concerts and festivals in living memory. Biblical deluges washed away tents, punters and profits at outdoor events and gigs have fallen prey to the struggling economy. But one of the biggest challenges music...

Speaking to BBC1's Andrew Marr on Sunday, the chancellor, George Osborne, says he will stick with his deficit-reduction programme when he presents the autumn statement on Wednesday. The chancellor declined to comment more specifically on whether he would be able to meet debt targets, but stressed he did not believe Britain should borrow more or increase spending Source: Reuters/BBC's Andrew Marr show Length: 1min 10sec ...

The World Energy Council said targets were needed because companies needed clarity on future policy in order to make the right investments. Photograph: John Giles/PA The UK government and the EU should provide clear targets on carbon emissions for 2030, in order to give companies the confidence to invest in green technologies, according to a survey of energy industry chiefs.Ministers refused to put a target for decarbonising the UK's power sector by 2030 into last...