Economics

George Osborne is preparing to alter plans to strip some middle income families of child benefit ahead of a House of Commons debate on the issue.

Geir Haarde, the former Icelandic Prime Minister, is to go on trial on charges of negligence during the 2008 financial crisis.

THE GREEK 'DEFAULT'

The UK's failed lenders, Northern Rock and Bradford & Bingley, today reported total profit for 2011 had surged 145% to almost £1.1bn.

Equity markets globally rose overnight, mimicking the trend seen across Europe yesterday, as investors cheered more positive data from the US.

Asset managers and business leaders including Neil Woodford and Terry Leahy have criticised short-termism among UK investors and warned it is a threat to equity markets.

Market participants are expecting interest rates in the UK to remain on hold until late 2014, according to Bank of England policymakers.

Stephen Schwarzman, the Blackstone chief executive, took home $213.5m in pay and dividends in 2011, after seeing his pay jump by a third.

Laurence Fink, chief executive officer and co-founder of BlackRock, said global economies and markets are in a 'perfect storm' but warned investors against sheltering in cash.

Morningstar has unveiled its list of top performing funds for retail investors in 2011, a turbulent period for markets.