Economics

Supermarket giant Tesco led the FTSE 100 lower this morning after revealing its profits had dropped off sharply.

Tesco, the UK's biggest supermarket chain, has reported a drop in profits of 23.5% in the first half of its financial year.

New laws passing through Parliament could see bankers found guilty of "reckless misconduct" jailed for up to seven years.

Consumer staples shares dragged the FTSE 100 into the red this morning after Unilever said profit growth from its emerging markets business would miss expectations.

The value of short positions in UK and European stocks has hit multi-year lows as the recent market run-up dissuades investors from making negative bets.

Sterling rose to its highest level in nine months against the US dollar as the US government slipped into a partial shutdown.

Investors fled Italian equities on Monday morning as political tensions resurfaced in Italy, while fears of a potential US government shutdown also impacted markets across Europe.

THE BIQ QUESTION

Markets across Asia have fallen on news the US government may be headed for its first shutdown of services in almost 20 years.

What a difference a year makes. Last autumn, you may recall, we were all holding our heads in our hands, lamenting the sorry state of the UK economy.