Economics

Chancellor George Osborne is to begin selling the government's 80% stake in Royal Bank of Scotland at a loss, saying any further delay could jeopardise the economy.

Miners and financial are dragging down the FTSE 100 index this morning, with HSBC among the biggest fallers following the news of further cost-cutting at the bank.

Lloyds Banking Group has been hit with a record £117m fine by the Financial Conduct Authority for mishandling of payment protection product complaints.

The International Monetary Fund has urged policymakers in the US to delay hiking interest rates or face a further bout of "financial instability".

Chancellor George Osborne has announced the government is to sell its remaining 30% stake in Royal Mail.

The sell-off in European government bonds has spilled over into equities once again on Thursday, with UK stocks unable to escape the pain.

Neptune has closed a further two productsin its range, bringing to an end a period of significant fund consolidation and restructuring for the firm.

Jupiter has promoted James Zimmerman to lead manager of its £60m UK Smaller Companies portfolio as Richard Curling steps back.

Renewed yen weakness could bring about a fresh global currency war resulting in a 'tidal wave of deflation' in China and the West, Société Générale's Albert Edwards has warned.

The government is to move a step closer to selling its stake in RBS, with Chancellor George Osborne set to lay out plans for its privatisation in a speech next week.