Markets

July US employment figures have come in well ahead of economists' estimates, helping stave off fears of a new US recession, despite a small rise in the unemployment rate to 8.3%.

THE BIG QUESTION

The FTSE 100 has added 1.4% in early trading as investors consign yesterday's ECB disappointment to the past and await today's US jobs data.

State-backed lender Royal Bank of Scotland (RBS) said today it had made a loss of £1.5bn in the first half of this year, after taking a near £3bn writedown on the value of its own debt.

The National Institute of Economic and Social Research (NIESR) has called on the government to loosen its debt reduction plans as growth forecasts are slashed for the UK.

Markets around the globe sold-off overnight after ECB President Mario Draghi failed to provide the stimulus the market had expected to tackle the eurozone crisis.

European equity markets are selling off alongside the euro this afternoon as investors react badly to ECB president Mario Draghi's announcement on new policy measures designed to save the euro.

The Bank of England has held interest rates at 0.5% for the 41st consecutive month and kept its bond-purchase target at £375bn.

Aviva Investors has sold its SRI funds business to Alliance Trust Investments in a £1m deal.

Schroders saw net inflows of £2.7bn in the volatile first half of the year as it revealed it is on the hunt for new talent.