for a larger version of this graph, click the right-hand-side of the main image at the top of this blog 07.23 RBS could axe 10,000 jobs as it dramatically downsizes its global banking and markets division. The Telegraph's Harry Wilson writes: The US investment bank Lazard has been hired by RBS to run the process, which could see the bank offload businesses such as equities and corporate finance. 07.15 Here's the morning's latests corporate news: British interdealer broker Tullett Prebon will take cost-cutting measures in the first half of 2012 and that previous steps to reduce costs would lead to a £10m charge for its 2011 results. Carillion has been appointed preferred bidder for a 12-year highway maintenance contract in Canada worth more than £100m. Balfour Beatty has secured a five-year extension to its existing contract with National Grid to maintain and upgrade the UK's electricity transmission network in an agreement worth up to £750m. Sales at Clinton Cards rose 0.8pc in the run-up to Christmas but the group was dragged down by Birthday shops, which saw sales fall 2.7pc. JJB Sports sales rose 5pc. 07.00 We also have a key €8bn French bond auction later today, so investors, markets and general euro fans will be keeping a close eye on that. 06.54 Today we are expecting UK services PMI at 9.30am, more inflation figures from the eurozone at 10am, and jobless claims data from the US at 1.30pm (GMT). We'll have the latest here. Hopefully the UK services figures will be as positive as yesterday's data from around the EU. Yesterday was a good day for numbers. European markets will open at 8am, with the FTSE 100 predicted to open up 0.2pc. Asian shares have eased as concerns about the ability of eurozone countries to refinance their huge public debt dampened investors' appetite for risk. Japan's Nikkei slipped from Wednesday's three-week high to trade down 0.8 percent 06.45 The big news today is Greece warning that it could run out of money in March if unions don't agree to cuts. Greek Prime Minister Lucas Papademos said: Without the agreement and the funding linked to it, Greece faces an immediate danger of uncontrolled default in March. We cannot expect other EU states and international organisations to continue to fund a country that does not adapt to reality and does not deal with its problems. Our decisions and actions will not only determine the country's ability to return to a viable stabilisation course but our very future in the euro. Meanwhile, Spain says its banks must put aside up to €50bn in further provisions on their bad property assets as part of new reforms. However, the government has ruled out the creation of a bad-asset bank. Also, there are reports that Kodak is preparing for Chapter 11 filing. 06.41 Telegraph head of business Damian Reece has penned a very interesting comment on the Laboratory of the Government Chemist (LGC). This is the group of people who mount forensic investigations, find and collate evidence and help detectives bring murderers to justice. The improvement and investment in their technology and expertise made the crucial difference in the Lawrence Inquiry. 06.35 Elsewhere, in the business pages of the papers: The Telegraph: Hungary faces crisis as traders fear debt default The Guardian: Fears of new credit crunch as banks deposit record 453bn with ECB The Times: Thomas Cook can't afford pay-off for man who steered it towards rocks Financial Times: Spanish banks face extra hit of €50bn Daily Mail: Pay panel axed in Thomas Cook coup Independent: High street slowdown hits next and John Lewis 06.33 Here's the Telegraph's front page this morning, leading on a controversial medical story: Doctors should be allowed to help terminally ill people kill themselves but only if patients have less than a year to live, a report by peers and senior medical professionals proposes today. 06.30 Good morning and welcome back to live coverage of the debt crisis.