Warren Buffett, chief executive of Berkshire Hathaway, will testify next week before a US panel on the role of ratings agencies in the financial crisis.

Economists are warning the new coalition Government may have to impose £50bn of tax rises only months into its tenancy, including a hike in VAT.

Goldman Sachs and Morgan Stanley are believed to be among eight US banks facing an investigation into the rating of their mortgage products.

The FTSE 100 has soared in early trading, up 3.35% to 5294.55, as the markets took confidence from this weekend's €750bn rescue deal to defend the euro.

In crisis talks over the weekend, EU finance ministers and the IMF agreed emergency measures worth €750bn to try and prevent contagion from the Greek debt crisis affecting other countries in the eurozone.

Goldman Sachs is to "sue for peace" in the fraud trial brought by the SEC over its Abacus vehicle.

Robin Geffen, MD of Neptune, is trying to rally support for a vote of no-confidence in Prudential chief executive Tidjane Thiam over his botched attempt to acquire Asian insurer AIA.

Ratings agency Moody's reiterated today the outcome of the UK general election will not threaten the Government's Aaa rating.

Only 40,000 lucky Berkshire Hathaway shareholders got the chance to see their hero Warren Buffett in the flesh as they made their annual pilgrimage to Omaha over the weekend for the investment firm's annual meeting.

Prudential's 160-year-old association with the UK could end later this year as the insurer is believed to be working on radical plans to offload its British and American businesses.