It is "inevitable" Italy will need an EU bailout in the next six months, according to analysts at the country's second largest bank.

The US economy added 175,000 jobs in May, beating analyst expectations, although the unemployment rate ticked up in what was dubbed the most important jobs release in years.

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Barclays has been dragged into the scandal surrounding Liberty Reserve, a US cash-transfer business accused of running the biggest money-laundering operation in American history.

India has recorded its worst GDP growth in a decade as fears persist over high inflation and a slump in manufacturing.

Advisers have seen the number of complaints against them soar over the past year, however figures show that more than half of the cases were dropped by the ombudsman.

The head of the International Monetary Fund (IMF) Christine Lagarde appeared before a French magistrate yesterday to face questioning over allegations of embezzlement and fraud.

The government is set to push ahead with plans to privatise Royal Mail this year in a £3bn float, as profits at the group continue to impress.

The London property tycoon behind one of Britain's biggest mortgage scams has been given an extra four years in jail after judges ruled his sentence "too generous".

IMA chief executive Daniel Godfrey says there is "no reason" why fund groups should not be able to agree a methodology for displaying costs more transparently by the end of 2013.