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American dream fades for Generation Y professionals

Average incomes for individuals aged 25-34 have fallen 8%, double the adult populations total drop, since December 2007

Monti quits as Italian PM, clearing way for election

Moody's and S&P ignored as bonds shun sovereign ratings

Arnault's Belgian citizenship application hits a snag

Deal stalled as Republicans vote on fiscal cliff plan

Boehner to push Budget Bill while continuing talks

US President cuts his tax revenue demand by $200 bn to resolve financial crisis

'UBS Libor settlement to target bankers also'

BOJ pledges 76 trn yen to boost growth

Bank expands asset-purchase fund by 10 tn yen but keeps lending programme unchanged at 25 tn yen

Asian stocks swing from gain, loss on Japan vote

Tokyo Electric Power Co surged 33% on speculation Japan's new government will let it restart its nuclear reactors

Malaysia sets zero export tax for crude palm oil to cut reserves

Copper falls after its stockpiles jump the most in four years

BBC replaces Newsnight editors

Non-bank lenders rise on new licencing rules

Billionaire scion at Tata helm is backed by bond market

Suit against ECB fails in court

Coal to approach oil as top energy source by 2017: IEA

Global demand continues to be driven by Asian economies. India will increase its influence in coal markets thanks to large reserves

Taro rally stokes speculation of Sun takeover failure

Mumbai-based drug maker Sun Pharmaceutical owns 61% of Taro

Virgin Atlantic no longer flying solo caps year of alliances

ArcelorMittal reports $4.3-bn write-down of Europe units

Top steelmaker's rating cut to Bb+ from Bbb- by Fitch after same moves by S&P and Moody's

Instagram scraps ad policies, marriage with Facebook under strain

Honeymoon's over as new terms are junked amid backlash by users, including Kim Kardashian, against threats posed to their privacy