Economics

Mainstream emerging markets may have remained thoroughly out of favour this year, with developed nations driving global equity returns, but surprises can still be found in the top ten markets of 2013.

Japan's Nikkei fell for a second day overnight, while indices around the world also moved lower, as investors pull money out of the market on fears of imminent tapering by the US Fed.

The UK economy has been tipped to breach its pre-crisis peak as early as next year, instead of 2016, as previously forecast, by UK business network the British Chambers of Commerce.

US politicians have agreed a deal to set spending levels until 2015, on the same day that the 'Volcker rule' curbing bank trading was finally passed by regulators.

The UK could be the first developed country to raise interest rates, with a hike coming as soon as next year, according to Fidelity fixed income head Andrew Wells.

RBS finance director Nathan Bostock is to leave the bank to become deputy CEO at Santander UK.

Bank of England Governor Mark Carney will act to prevent the housing market growing at 'warp speed', and said there are economic tools he can use other than keeping interest rates low.

Japanese shares soared overnight, with the Nikkei index seeing its biggest one-day gain for three months, as Asian shares rebounded after last week's slide.

Jupiter Asset Management's chief executive Edward Bonham Carter is to hand over his role to Maarten Slendebroek in March next year.

The US unemployment rate has fallen to a five-year low, increasing the likelihood of a tapering of quantitative easing later this month.