Two of the eurozone's biggest economies have fallen into recession, according to the latest economic figures.

Italy and the Netherlands both saw their economies shrink by 0.7% in the fourth quarter, the second consecutive quarter of economic contraction.

Germany had its first negative quarter since 2009 with a decline of 0.2%, compared with the previous quarter.

But in France there was surprise growth of 0.2% at the end of last year, attributed to healthy export growth.

Overall the 17 nations that make up the eurozone saw economic activity shrink 0.3% in the fourth quarter. By comparison the United States reported growth of 0.7%.

BNP Paribas, France's biggest listed bank, has reported a 50% fall in profit for the final three months of 2011, after taking further losses on its Greek debt holdings.

It reported net income of 765m euros ($1bn; £641m) for the quarter, after writing down its Greek assets by a further 567m euros.

The bank said it had now written down the value of its Greek debt by 75%.

For 2011 as a whole, net income was down 22.9% to 6bn euros.

Despite the sharp fall in fourth quarter profits, BNP's results were better than analysts' expectations and quarterly revenues of 9.69bn euros were also stronger than forecast.

World Bank President Robert Zoellick, who was nominated by President George W. Bush in 2007, said he will leave the institution when his five-year term ends June 30.

"Together we have focused on supporting developing countries to navigate crises and adjust to global economic shifts," Zoellick, 58, said in an e-mailed statement today. "The bank is now strong, healthy and well positioned for new challenges, and so it is a natural time for me to move on and support new leadership."

... President Barack Obama may nominate Lawrence Summers, his former National Economic Council adviser, to replace Zoellick, two people familiar with the matter said last month. Secretary of State Hillary Clinton is also being considered, one of the people said.

Britain's unemployment rate has remained at its highest level since 1995 - 8.4% - as the flatlining economy takes its toll on the labour market.

Official figures released on Wednesday showed that the number of people out of work was up by 48,000 on the previous three months to 2.67 million, on the International Labour Organisation measure.

Analysts pointed out that the increase in unemployment was the slowest since last June, when the jobs market was deteriorating sharply, after improving through much of 2010.