The Bank of England's nine-member Monetary Policy Committee (MPC) was split three ways over the direction of monetary policy at their November meeting, according to minutes of the gathering.

European Council president Herman van Rompuy warns the euro and wider EU face a "survival crisis" as the continent's sovereign debt crisis escalates.

Inflation is likely to remain high throughout 2011 but the Monetary Policy Committee (MPC) is more divided than usual over the reasons why, the Bank of England Governor says.

Eurozone ministers are poised to meet in Brussels as the debt crisis once again threatens the economic stability of the 16-member bloc.

London's FTSE opened 1.7% down this morning on a poor day for global stocks, following heavy losses in Asia and fresh fears for the Irish economy.

Officials in Ireland and the EU yesterday moved closer to conceding the heavily indebted nation may require a bailout.

The recovery in both France and Germany, Europe's largest economies, slowed considerably in the third quarter.

Government austerity measures may have to be rethought if the recovery slows, the International Monetary Fund (IMF) has warned.

BP today announced a return to profit in the three months to September after last quarter's record loss, but has not resumed dividend payments to shareholders.

Bank of England Governor Mervyn King has thrown his weight behind breaking up the banks as part of reforms to protect the taxpayer from another financial meltdown.