China's growth beats forecasts; Moody's downgrades Ireland - papers

The Chinese economy grew a faster-than-expected 9.7% in Q1 and its inflation rose to the highest level in almost three years despite government attempts to slow surging growth.

China's gross domestic product increased 9.7% in the first quarter from a year earlier the government said on Friday, down slightly from 9.8% growth in the fourth quarter of 2010, but still faster than most economists had predicted. MORE

Moody's on Friday cut Ireland's sovereign rating by two notches and kept its outlook on negative, a day after fellow ratings agency Fitch upgraded its outlook for the country. Moody's said the downgrade to BAA3 from BAA1, which puts its rating two notches below both Fitch and Standard and Poor's, was due to the expected decline of the government's financial strength, the country's weaker economic growth prospects and uncertainty around solvency tests. MORE

Glencore's plans for a $60bn (£37bn) flotation have been clouded by controversy after shareholders raised fears about disclosure at the commodities giant and criticised its approach to corporate governance. MORE

Gordon Brown is being tipped to take on a lucrative advisory role at the World Economic Forum (WEF), the influential body which holds meetings of politicians, business leaders and academics in Davos, Switzerland, each winter. MORE

MPs will revisit a decision by the Payments Council to dispose of cheques in 2018 following consumer pressure. MORE

Bart Becht has unexpectedly called time on his 16-year tenure as chief executive of household products group Reckitt Benckiser, wiping nearly £2bn from the market value of the company that makes Cillit Bang and Durex condoms. MORE

Rob Templeman is to leave Debenhams after eight years as chief executive, as the department store chain revealed a better performance than many on the high street, reporting flat like-for-like sales for the first half of its financial year. MORE