Economics

George Osborne is potentially facing a £20bn black hole in the public purse when he delivers the next Budget, according to a recreation of government models put together by the Financial Times.

With this week marking the five-year anniversary of both record low base rates and the FTSE 100 bottoming, Investment Week looks at the funds that have taken advantage of the subsequent recovery.

Shares in Schroders and Aviva jumped sharply today after strong full-year results from both firms, helping to keep the FTSE 100 ahead.

The Nikkei index climbed to a five-week high overnight as a weak yen - and positive pensions news - provided a boost for shares.

The Bank of England has suspended an employee as part of a probe into manipulation of the foreign exchange market.

Asian stocks joined a global rally overnight at the prospect of a full-scale conflict between Ukraine and Russia appeared to recede

UK investors put the most money into Absolute Return funds for over four years in January, as retail investors re-evaluated their equity exposure.

Russia's benchmark Micex index has fallen over 10% in response to geopolitical tensions in Ukraine, with the country's central bank hiking rates in a bid to prop up the rouble.

Annualised US GDP growth for Q4 2013 has been revised down from 3.2% to 2.4% at the second estimate, with worse-than-expected personal consumption figures to blame.

Major UK financials were in the doldrums today, with both Royal Bank of Scotland and Standard Life sharply lower in early trading following updates from the businesses.