Economics

Consumer sector growth in China could bolster the economy and make the country a better long-term investment than it may currently appear, according to fund managers.

A senior Federal Reserve economist has criticised the European Central Bank for resisting further monetary stimulus.

A respected think tank has raised its UK growth forecasts for this year and next but warned any recovery is dependent on consumer spending.

The Bank of England (BoE) has held interest rates for the 53rd consecutive month and opted not to increase the size of its £375bn QE programme at its July meeting.

Shares in Lloyds Banking Group and Jupiter Fund Management soared on Thursday after both groups reported hefty profits in their half-year results.

The Federal Reserve has given little suggestion of a forthcoming slowdown in its quantitative easing programme despite economic data continuing to improve.

Yields on 10-year treasuries have spiked back above 2.7% after US Q2 GDP data easily beat expectations, increasing the likelihood of a quantitative easing slowdown.

A new report has identified 16 countries poised to succeed China as the global driver of manufacturing growth.

F&C Asset Management has reported pre-tax profits of £37.3m for the half year ending 30 June 2013, citing buoyant equity markets and cost-cutting measures introduced by activist shareholder Edward Bramson.

Barclays shares have dropped by more than 7% after it announced a £5.8bn rights issue to shore up its capital position.