Economics

Consumer Prices Index (CPI) inflation dropped to 5% in October, down from 5.2% the previous month, the Office for National Statistics said today.

Update: European shares fell today - mirroring overnight losses in Asia and the US - on continued concerns about the eurozone debt crisis, with German Chancellor Angela Merkel saying Europe faces its "hardest hour" since World War II.

Neptune's Rob Burnett is eyeing European banks for his equity portfolio as he believes the sector will be supported by full fiscal union - an option he thinks is becoming increasingly likely to rescue Europe from its debt crisis.

Swiss investment bank UBS has warned the UK will lose the "safe haven" status it has enjoyed this year as the US attracts more investors.

The International Monetary Fund (IMF) has sounded a warning over the state of China's financial system.

The Prime Minister David Cameron said the eurozone debt crisis presents an opportunity to reform the European Union and for powers to "ebb back" from Brussels to Westminster.

Income giants Jupiter's Anthony Nutt and Invesco Perpetual's Neil Woodford are divided over the likelihood of the UK falling back into recession.

Thomas Moore has been appointed co-manager of Standard Life Investments £107m Equity Income Trust alongside Karen Robertson, ahead of a move to make him lead manager next year.

Warren Buffett has warned European leaders are not doing enough to reassure markets they will do what it takes to solve the debt crisis, risking a run on the region's banks.

Former prime minister Tony Blair has warned against any break-up of the eurozone as the region takes steps to deal with the most serious challenge it has faced since its formation.