Former member of the Monetary Policy Committee (MPC) David Blanchflower says the UK will need "a lot more" quantitative easing (QE) to avoid a double dip recession.

The Bank of England is today expected to lower its economic growth forecast for the UK and raise its expectations for inflation next year.

The FSA has launched a probe into sales of an AIG bond fund product by RBS' private banking arm Coutts.

Barclays has so far paid £194m to settle a US-led probe into payments made to countries or people on a sanctions list.

Aviva recorded a 21% jump in operating profit in the first half of the year, with the insurer declaring 6% dividend increase.

The FTSE fell in early trading in reaction to losses on Wall Street overnight and a weak opening in European markets.

Interest rates will have to rise earlier and more sharply than expected to keep inflation under control, warn two former Bank of England policymakers.

London's top stocks have given up some of yesterday's triple-digit gains in early trading, with the FTSE 100 down 0.72%.

The cost of capital for companies with controversial environmental and human rights records should be higher than more ethical companies, says Aviva Investors.

UPDATE: The FTSE has bounced back from heavy losses earlier this afternoon on the back of weak GDP figures from the US.