Markets

George Osborne's austerity plan came under attack today from the International Monetary Fund (IMF) after it downgraded the outlook for UK growth by more than any other advanced economy.

UK stock markets and their European counterparts continued to sell-off today as ongoing worries about global growth and a sharp fall in the US overnight weighed on sentiment.

UK consumer prices index (CPI) inflation remained unchanged at 2.8% in the year to March, after a slight rise during February.

Chief executive of the Prudential Regulation Authority (PRA), Andrew Bailey, has said it is "more than odd" that the top bosses in control of failed banks have avoided formal charges.

The US' three major equity markets dropped overnight after a bomb blast at the Boston Marathon shook markets and weak data from China continued to weigh on stocks.

Weaker than expected economic data from China has caused a sell-off in risk assets, especially commodities.

The European deleveraging process is five years behind that seen in the US and may obstruct a further rise in equity markets, according to Invesco Perpetual's Neil Woodford.

The International Monetary Fund (IMF) is expected to release a gloomier picture of the world economy this week, trimming its forecast for global growth this year by 0.1%.

A former HBOS banker who signed off the firm's financial accounts in years leading up to its collapse collected £143,000 last year from life company consolidation vehicle Resolution.

Economic growth in China slowed unexpectedly in the first quarter of the year, sparking concerns about the strength of the country's recovery.