Economics

Wall Street's biggest banks had their worst quarter of results since 2008's financial crisis, with trading revenue down 35% on last year.

Negativity towards European and UK markets has eased as investors rotate their portfolios away from emerging markets in favour of the more developed nations, according to a fund manager survey.

The Monetary Policy Committee(MPS) voted unanimously for an additional £75bn of quantitative easing at its latest meeting.

Greg Bennett has left Marlborough to join his former Neptune colleagues at Argonaut Capital.

Credit agency Moody's has cut the rating of Spanish government bonds by two notches, echoing Standard & Poor's decision two days ago.

The governor of the Bank of England has said inflation is now at, or close to, its peak rate and will fall back "sharply" early next year.

High yield and investment grade US credit are the cheapest asset classes in the market as they are discounting a "savage recession", said Odey's macro strategist Tim Bond.

US banking giant Goldman Sachs has reported a loss of $428m (£272m), worse than analysts had been expecting.

CPI inflation surged to 5.2% in September, equalling a record set in 2008, the Office for National Statistics (ONS) said today.

Rating agency Moody's has issued a warning on France's AAA-credit rating, saying it may downgrade its outlook for the country based on its overstretched budget.