Economics

Credit rating agency Standard & Poor's has downgraded Portugal for the second time, on the basis it may be unable to repay its debt, the Financial Times reports.

The FTSE 100 continued its rally this morning off the back of a strong showing in the US where better than expected earning pushed the S&P 500 through the 1,300 point barrier.

BUDGET BLOG

Irish economy contracted in the fourth quarter of 2010, shrinking 1.6% on the back of poor consumer spending, exports and investment.

UK retail sales slipped 0.8% in February compared to the previous month, according to the Office for National Statistics (ONS).

Egypt could see the state of its economy further discredited if the government does not support the market, says Pictet's Oliver Bell.

Fund managers believe the revised growth forecast for the UK this year, as revealed in George Osborne's Budget, is still too optimistic and may not be an achievable target.

The Office for Budget Responsibility (OBR) said today the UK's economic recovery will lag previous recoveries in the 1980s and 1990s.

BUDGET 2011 BLOG

Estates will benefit from a 10% discount in inheritance tax (IHT) if they leave part of the money to charity, George Osborne said today in the Budget speech.