US markets opened lower today while the FTSE 100 continued its slide as economic data from China and concerns over Spain's finances dampened sentiment.

The FTSE 100 has dropped 0.8% this morning as investors get their first opportunity to act on a disappointing US jobs report on Friday.

A High Court judge has rebuked the Serious Fraud Office (SFO) for "sheer incompetence" after the watchdog admitted it had "no clear record" of the information it used to obtain search warrants against property tycoon Vincent Tchenguiz.

Europe's economic and financial affairs commissioner Olli Rehn has warned Portugal may need a fresh bailout within a year.

James Murdoch is to step down as chairman of UK satellite broadcaster BSkyB, but will remain on the board.

Facebook will permanently stop trading of its stock on private secondary markets at the end of this week ahead of its initial public offering in May, the FT reports.

Bramdean's Nicola Horlick is launching a fund to raise as much as £2m for film development projects.

Ireland fell back into recession in the last quarter of 2011, according to official figures released on Thursday.

OBSR (Old Broad Street Research)'s research and consulting businesses have been rebranded as Morningstar OBSR.

The Office for Budget Responsibility will revise up its growth forecasts for the UK economy in Wednesday's Budget, the FT reports.