Economics

Greece's Prime Minister George Papandreou has called an emergency cabinet meeting for this afternoon as speculation mounts the country's government is about to collapse.

Troy Trojan fund manager Sebastian Lyon has expressed fears that the Bank of England has set down a path of continuous monetisation of government debt.

Banking shares plunged this morning, leading markets lower, following news Greek prime minster George Papandreou has called a referendum over last week's eurozone rescue deal.

Swiss banking giant Credit Suisse will cut another 1,500 jobs from its global workforce of 50,700 despite profits rising in Q3, the BBC has reported.

Rathbone Unit Trust Management has seen its fourth consecutive quarter of net inflows, but assets under management fell after the market sell-off.

Greece sent markets tumbling overnight and this morning after announcing plans to hold a referendum on the European debt deal designed to save the country.

Barclays has written down the value of its stake in asset manager BlackRock after a sharp fall in the US firm's share price.

US brokerage MF Global is set to file for Chapter 11 bankruptcy protection over its £4bn eurozone debt exposure, the BBC reports.

Germany's debt to GDP ratio is set to fall by 2.6 percentage points after officials discovered an accounting error at a government-owned bad bank.

Inflation across Europe remained at a three-year high in October despite the economic slowdown across the region.