The UK will not recover to pre-crisis levels of growth until 2013, the National Institute of Economic and Social Research (NIESR) has said.

Economists shoot down IMF's growth forecasts for UK in anticipation of an increase in GDP.

Aviva Investors' Chris Higham has slashed risk exposure in his £1.6bn Corporate Bond and £96m Strategic Bond funds, shifting 25% of the portfolio into cash on fears of a bubble forming in risk assets.

ALL DOOM AND GLOOM IN THE US?

An OPEC dispute over whether to raise oil production levels has sent oil prices soaring to $117.8 per barrel.

The chairman of Walker Crips David Gelber said short-term economic uncertainty has impacted the group's trading, despite a rise in revenues, and predicted a subdued outlook for the UK.

Markets worldwide suffered on news the US is likely to put an end to its loose monetary policy.

BP is preparing to sell its stake in a joint venture with TNK to Rosneft in an effort to rescue the landmark deal with the Russian state oil company, the Wall Street Journal has reported.

Dalton Strategic Partners has soft-closed its Melchior Selected Trust European Absolute Return fund at $500m.

Sales director Polin's departure leaves investors questioning future of boutique.