Markets

The UK economy has been given a surprise boost after the latest official data from the construction sector showed a smaller decline in output than previously announced.

M&G reported a 53% rise in net investment flows in the first half of the year, with retail investors driving the £4.3bn of flows.

The UK could leave the European Union by this autumn should the eurozone debt crisis intensify further, it has been suggested in a study by Japanese bank Nomura.

The Financial Services Authority (FSA) will today suggest scrapping LIBOR and replacing it with a borrowing rate based on actual trades, it has been reported.

Barclays has confirmed Sir David Walker will succeed Marcus Agius as chairman of the bank on 1 November, following press reports yesterday.

Sir David Walker, a former deputy governor of the Bank of England, will become the new chairman of Barclays, according to reports.

Schroders' head of UK equities Richard Buxton has been buying Standard Chartered on its dramatic share price falls this week, ignoring the market's "frenzy of panic" over the stock.

Liontrust is to launch low-cost share classes aimed at wealth managers across Jan Luthman and Stephen Bailey's Macro fund range, as part of an administration change which will also see the group drop Capita as its authorised fund manager.

China's inflation level fell to a 30-month low of 1.8% in July, continuing to tumble as the global slowdown takes hold.

In its latest quarterly inflation report, released today, the Bank of England has muddied the waters somewhat on its plans for further stimulus, leaving pundits wondering if a rate cut is on the cards.