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Business Bites: Record unemployment figures for Spain

3 April 2012 Last updated at 15:40 BST

The number of people claiming unemployment benefit in Spain has risen for the eighth month in a row to hit a record high of 4.75 million.

The Labour Ministry says the services sector saw the most jobs lost in March.

Youth unemployment in Spain is now running at 50%.

Meanwhile, Samsung Electronics has unveiled plans to invest $7bn (£4.4bn; 5.2bn euros) to build its first chip factory in China.

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