Economics

Fitch has become the first ratings agency to threaten a US credit ratings downgrade over the latest debt ceiling impasse.

Shares in the Edinburgh investment trust were selling off this afternoon after the shock news Neil Woodford will be leaving Invesco Perpetual in April.

UK consumer prices index (CPI) inflation remained stable in September at 2.7%.

The Chancellor, George Osborne, has announced he will give his annual Autumn Statement to parliament on 4 December 2013.

ECONOMIC OUTLOOK

Christine Lagarde, head of the International Monetary Fund, has sparked fears over the impact of a US default, warning it could cause a global recession.

In his final speech as deputy governor of the Bank of England Paul Tucker revealed that the resolution regime, which will allow one of the world's largest banks to collapse without being rescued, is now in place.

Janet Yellen's appointment as chairman of the US Federal Reserve could see tapering of quantitative easing (QE) as early as December, experts say.

The price of Royal Mail shares has soared well above the government's offer price after conditional trading in the company began this morning.

US markets had their best day of the year so far yesterday, with all three major indices rising by more than 2%, after politicians took a step towards agreeing a deal on the country's debt ceiling.