Business bites: Italy bond auction costs 'sky high'

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Italy has been forced to pay record interest rates in an auction of treasury bills, adding to a lacklustre auction of German debt on Wednesday, and signs that global markets are turning their backs in Europe.

Increasingly, analysts see intervention by Germany as the only possible solution to the eurozone's woes.

Meanwhile, former head of scandal-hit Japanese camera-maker Olympus, Michael Woodford, has offered to return to the firm.

He was sacked in October after revealing that the company had hidden losses, which Olympus later admitted was true.

The BBC's Aaron Heslehurst discusses key business stories of the day.

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