Economics

Industry commentators forecast an even gloomier second quarter after the Office for National Statistics revealed the UK slid back into recession in Q1, with negative growth of 0.2%.

UK RECESSION

The UK is officially back in recession as preliminary figures show the economy contracted 0.2% in Q1.

A rally in tech shares led to Asian markets climbing overnight, after Apple's revealed it doubled last quarter's earnings.

US markets gained some ground this afternoon ahead of consumer confidence and home sales data, following a sell-off in Europe yesterday.

Credit Suisse's Luca Paolini has joined Pictet Asset Management as chief strategist.

HSBC's global research team has suggested US economic data is in ‘Death Valley': not weak enough to guarantee more quantitative easing but not strong enough to be self-sustaining.

Standard & Poor's(S&P) has put a 'negative watch' on Argentina's credit rating, citing "rising restrictions to international trade" and "steps to nationalise oil company YPF".

Wall Street fell on the opening bell, building on losses seen in European markets today as macro fears dampened sentiment.

Shaun Meadows, group product and channel strategy director at Aviva Investors, has become the latest employee to leave the company.