Economics

Ratings agency Standard & Poor's has downgraded Egypt's credit rating further as the ongoing upheaval in the country continues.

Barclays shares shrugged off a larger than expected fall in profits this morning and a downbeat market to climb over 4% in early trading.

Ignis Asset Management's parent company Phoenix has ended takeover discussions with private equity company CVC Capital Partners after a disagreement on price.

The Royal Bank of Scotland, the UK's largest government-owned lender, has dismissed at least four employees in connection with a probe of potential interest-rate manipulation, sources told Bloomberg News.

Owning gilts has made the single largest contribution to recent performance of the £761m Miton Special Situations fund, and there is more money to be made in the asset class, said manager Martin Gray.

Eurozone finance ministers have rejected a reported €3.3bn package of Greek budget cuts, dashing hopes the country will secure more bailout cash and avoid default.

Billionaire investor Warren Buffett has warned US treasuries, gilts and other bonds are among the 'most dangerous of assets' at current levels.

The Nasdaq reached an 11-year high last week as investors piled into US equities, but Jim Rogers has cautioned on the prospects for the asset class.

A Greek minister has resigned over the austerity measures agreed earlier today which were required for debt-laden country to receive a €130bn bailout and avoid default.

The Bank of England's Monetary Policy Committee (MPC) has increased its quantitative easing programme by £50bn as it looks to shore up the UK's ailing economy.