Economics

Berkshire Hathaway's Warren Buffett has said the US government should immediately raise taxes on high earners to aid the economic recovery.

Both Germany and France have ruled out common eurozone bonds as a solution to the bloc's debt crisis, the FT has reported.

The head of the World Bank has warned the crisis of confidence sweeping through markets in recent weeks has resulted in a new 'danger zone' for the global economy.

FINANCIALS FUNDS: WORTH THE RISK?

US shares have built on yesterday's gains in early trading after data showed US retail sales posted their biggest gain for four months in July.

China has voiced concerns over the eurozone crisis, urging Europe and the US to deal with their debt pile, Reuters reports.

Updated: The FTSE 100 got off to a weak start on Friday but stablised by mid-morning following efforts in several European countries to calm volatility in share trading.

France has reported annualised GDP growth of zero in the second quarter, raising concerns over the government's ability to meet its financial targets.

Premier Asset Management is proposing to wind up its China Opportunities fund after it failed to attract sufficient assets.

Aegon Asset Management's new hire, Stephen Snowden, has warned the Italian bond market could face a Northern Rock-style collapse if investor sentiment weakens further.