Whichever percentages and performance indicators the company chooses to select in its latest report, Novo Banco remains a money pit with first quarter losses shocking an already jaded market.

The bank that was created in 2014 from the ruins of BES reported a €249 million loss for Jan to March 2016 which compares to a loss of €117.8 million in the same period for 2015. Despite an easy birth, the bank has yet to make a cent.

The high cost of housing in the UK is forcing an increasing number of young people to live with their parent(s).

Over the past decade, the average house price in the UK has gone up more than 50% to £279,000. Young people are having to save up to meet the large deposit requirements on buying, forcing many to stay home longer.

The sky over a large section of the central Algarve was coloured black this afternoon as a fire at a tyre warehouse near Algoz, Silves burned uncontrollably with firefighters struggling to quench the flames.

The tyres were stored in a large warehouse at Paço near Algoz with the fire causing a dense cloud of acrid, black smoke to drift across the region despite the attentions of firefighting teams from Silves, Messines, Albufeira and as far away as Loulé.

Underground hacktivist group Anonymous announced that its 'OpIcarus' successfully shut down the websites of many central banks and “corrupt banking cartels,” has barely been covered by worldwide media.

OpIcarus planned to close services at the World Bank, the New York Stock Exchange, five U.S. Federal Reserve Banks and the Vatican and was successful with website down and internal systems disrupted.

Portugal’s Prime Minister António Costa embraced social media today to make a statement on his first six months in office.

The PM's message on Instagram said "the way had not always been easy" as Costa took an overview of his administration’s performance and focused on the "strategic vision" of his team - which is "to achieve results."

German company Adidas is going to use robots in Germany to manufacture some of its sport shoes.

More than 20 years ago, the company ceased manufacturing in Germany and shifted to Asia instead where the work was done predominately by hand.

Faro council is to spend an extra €4.3 million this year in "works in support to associations and parishes," according to mayor Rogério Bacalhau who also promised that the Christmas lights will be back on after years of gloom.

The council has invested in nothing much at all in the past few years as Bacalhau put in place measures to repair the council accounts left less than healthy by former mayor Macário Correia.

The long arm of the law has not been impeded by the strikes, demonstrations or petrol shortages in France.

In the midst of the chaos enveloping the country, French police announced on Thursday that they had raided the French headquarters of hamburger chain McDonald’s as part of a tax fraud investigation.