Economics

Oil prices have jumped to a nine-month high on mounting concerns turmoil in Iraq may have a negative impact on global supplies.

Chancellor George Osborne plans to allow the Bank of England to implement new measures to control accelerating house prices in the UK, as the property market shows signs of overheating.

The governor of the Bank of England has told the UK to prepare for a potential rise in interest rates this year.

The Chancellor is set to announce plans to clamp down on traders who manipulate markets, while establishing a review of how these markets operate.

Invesco Perpetual's co-head of fixed interest Paul Read has said he expects the UK's base rate to rise in the first quarter of next year, in contrast to the forecast of his former colleague Neil Woodford.

Economies around the globe need to shore up their fiscal positions now following an improvement in growth rates, and before the next crisis hits home, the World Bank has warned.

Stock markets have jumped this afternoon following a series of drastic measures from the European Central Bank to stave off a downturn and boost inflation.

The euro is hovering near a four-month low on the expectation the European Central Bank (ECB) will today take steps to tackle the threat of deflation and lacklustre growth in the eurozone.

Neil Woodford is considering opening talks with his former firm Invesco Perpetual about a private multi-billion pound deal to bring across his old stakes in the country's largest stocks, and avoid creating havoc in their share prices.

Drugs and prostitution are to provide a £10bn boost to the UK economy, after a major shake-up to the way the Office for National Statistics (ONS) calculates GDP.