Economics

Japan's economy will shrink 0.7% this year because of the massive earthquake and tsunami which struck the country in March, said the IMF.

Markets worldwide suffered on news the US is likely to put an end to its loose monetary policy.

BP is preparing to sell its stake in a joint venture with TNK to Rosneft in an effort to rescue the landmark deal with the Russian state oil company, the Wall Street Journal has reported.

US Treasury secretary Tim Geithner yesterday panned the UK's "light touch" regulation in the build up to the financial crisis.

Dalton Strategic Partners has soft-closed its Melchior Selected Trust European Absolute Return fund at $500m.

Portugal has moved a step closer to implementing a €78bn bailout programme after the country's Social Democrats (PSD) won a conclusive victory in the general election yesterday.

The end of QE2 this month will have a limited impact on the global economic recovery, according to two senior economists at Schroders.

Growth in US employment slowed down significantly last month, adding to fears the economic recovery is faltering.

Eurozone finance ministers have provisionally agreed a new bailout package for Greece as the embattled nation struggles with its mounting debt.

US shares moved lower at opening, exacerbating falls in Europe, as yet more negative jobs data weighed on investors.