UBS, the Swiss bank that employs thousands of people in the City, has agreed to settle a multimillion-dollar legal case brought against it for selling mortgage-based investments which went bad in the financial crisis.

Punters with an interest in financial stocks have been avid followers of the banking guru Ian Gordon at Investec, and his latest missive pushed up Royal Bank of Scotland by more than 5 per cent. Mr Gordon’s stance on the taxpayer-owned bank changed from negative – after more than five months as a seller – in March, when he moved to a hold rating. He raised this to a buy earlier in the summer, and now thinks RBS will be a “key beneficiary of last Friday’s strong mortgage data”. (May was the best month since October 2008.)

US conglomerate General Electric is believed to be considering a £3.5bn bid for Invensys in a move that could lead to an international tug-of-war for the British engineer.

Gatwick airport posted a £29.1 million loss today, despite new routes to Beijing and Istanbul boosting the number of passengers in its arrivals and departure lounges in the year to April.

Two men from upstate New York have been accused of hatching a bizarre plot to kill President Barack Obama and others they saw as “enemies of Israel” using a home-made X-ray weapon.

Glendon Scott Crawford and Eric J Feight charged with conspiracy to provide support to terrorists with the weapon

The London High Court battle between an airline backed by media owner Alexander Lebedev and General Electric, the world’s biggest aeroplane lease business, saw scorn poured on the allegedly low-ball lease valuations set by GE in a disputed plane sale.

The way General Electric’s aeroplane-leasing division handled the sale of planes on behalf of Alpstream, a Swiss-based aviation company, was “nothing short of madness”, the High Court was told this week.

Eurotunnel sees revenues rise 8%

GE wants Mary Schapiro on board

Stepping off the plane in Johannesburg, I already had my flip flops on and was ready for a week-long vacation. I spent the previous few months on an academic exchange in cold Philadelphia, and was ready for sunshine.

At Gold's Gym in Riyadh, Majdi Omar is using his childhood inspiration to get Saudis into shape.

Those sponsors have a lot to answer for. Tango drinkers inside the Olympic Park have to make do with Fanta because of Coca-Cola's association with the Games. A Mars bar that might help the athletes work, rest and play better is off limits because of Cadbury's deal to peddle its chocolate treats within the sporting perimeter.

The deals continued at the Farnborough Airshow yesterday, as Airbus announced a $4.2bn (£2.7bn) order from Cathay Pacific and Boeing unveiled its second multi-billion dollar order in as many days.