Markets

The rise in bond yields during May and June has left few parts of the bond market unscathed, and UK bonds were very much part of this move.

J.P. Morgan could be hit with a fine of more than $6bn from US authorities as they pursue the bank over sales of securities to government-backed mortgage companies.

Markets around the world sold off overnight while oil continued to soar, as the prospect of military involvement in Syria's civil war grows.

European financials are among the day's biggest fallers as benchmark French and German indices struggle amid intensifying geopolitical concerns.

The FTSE 100 was off around 1% this morning while oil prices climbed, as unrest in the Middle East threatens to escalate.

Charlie Bean, the deputy governor of the Bank of England (BoE), said the Bank has sent a "clear signal" it will not increase interest rates anytime soon as he expressed surprise at investors' reaction to its position.

The US is on course to hit its debt ceiling by mid-October unless the government intervenes, according to Treasury Secretary Jack Lew.

AXA Framlington's Mark Hargraves is to take over management of the group's Global Opportunities fund as Mark Tinker becomes Asia business head.

The UK economy grew by 0.7% in the second quarter of 2013, a higher than previously estimated figure, according to latest figures from the Office for National Statistics.

Improving factory data and a sliding yen helped lift Japanese shares overnight, amid a positive session for Asian markets in general.