EU rethinks opposition to Arctic oil and gas drilling
U-turn by Brussels would be bitterly contested by environmental groups
Economic news
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Ex-RBS banker sentenced over bribery linked to GRG scandal
Stuart Holloway formerly worked as a relationship manager at bank’s infamous SME unit
US may extend $500mn in rescue funding to Spirit Airlines
Money would come with equity warrants that could make government majority owner of struggling discount carrier
Energy traders dig in for a long Iran war
Vitol, Trafigura and rivals expand credit lines in anticipation of prolonged disruption to global oil and gas flows
Switzerland hits UBS with proposed $20bn capital increase
Federal Council sets out plans for banking reform after months of lobbying by country’s biggest lender
EQT makes improved £9.7bn offer for Intertek
Previous bid for FTSE 100 group from Swedish private equity firm rejected