Siobhan Kennedy , Washington Correspondent

BP reports its first annual loss in nearly 20 years after the Gulf of Mexico oil spill. But as Siobhan Kennedy reports, the disaster has not stopped BP renewing its focus on deep sea exploration.

Three-quarters of a million more people will pay higher rate tax from April according to a new study. One tax expert tells Channel 4 News this trend could be set to continue.

Channel 4 News learns that Rupert Murdoch’s News Corp is in talks with the government about relinquishing control of Sky News in return for being allowed to buy the remaining part of BSkyB.

State-owned Russian oil giant Rosneft has taken a 5 per cent stake in BP, in the first major deal for BP since the Gulf of Mexico oil spill disaster, as Siobhan Kennedy writes.

JP Morgan announces a trebling of pay and bonuses for its investment bankers to more than £1.1billion in the last quarter. Siobhan Kennedy assesses what this means for the rest of the “bonus season”.

Barclays boss Bob Diamond tells MPs banks should be “allowed to fail”, and that the credit crunch “blame game” is over – but pledges to show restraint in bonus season, as Siobhan Kennedy writes.

World food prices have hit record levels according to the UN. As Business Correspondent Siobhan Kennedy explains the rise will fuel fears of a repetition of the food crisis three years ago.

Secret recordings reveal some Lib Dem ministers are privately voicing concerns about Government policies they are backing in public, as one MP tells Channel 4 News the Coalition is doing good work.

The Coalition has “bent over backwards” to keep Vince Cable in Government despite his comments that he had “declared war on Murdoch” over News Corp’s deal to take over BSkyB, writes Gary Gibbon.

Exposure to Ireland’s crippled economy will force Lloyds Banking Group to write down more than £4bn of loans – a “not helpful, but not life-threatening” step, one analyst tells Channel 4 News.

The UK comes a step closer to using a brand new energy source after “substantial” flows of shale gas are found just a few miles inland from Blackpool Pleasure Beach, writes Siobhan Kennedy.

Ireland outlines its toughest budget cuts in a generation as the country’s finance minister says it is time to move forward with “confidence and purpose”, writes Siobhan Kennedy.

MP Mike Hancock denies his Russian assistant is a secret agent after reports she is facing deportation, as a former KGB colonel tells Channel 4 News “Britain is under attack from Russian spies”.

Demonstrators have taken part in UK-wide protests over Topshop boss Sir Philip Green’s tax affairs. They allege that he avoided paying hundreds of millions of pounds.

As Faisal Islam reports from an Ireland reeling from the announcement of austerity measures, Siobhan Kennedy watches the protests in Portugal, the potential next bailout hotspot.