UK

The Financial Services Authority is considering major making 'radical changes' to its approved persons regime, according to a report in the Sunday Telegraph.

Business secretary Vince Cable has said the UK could see a triple-dip recession, and event a Japan-style 'lost decade' of zero growth.

The Bank of England has held the base interest rate at 0.5%.

As the Chancellor George Osborne delivered his Autumn Statement earlier today, the investment industry and press took to Twitter to give their views on the changes.

GOSLING'S GROUSE

AUTUMN STATEMENT

The Office for Budget Responsibility (OBR) has downgraded its outlook for the UK economy.

The former chief executive of HBOS sold off two-thirds of his personal stake in the bank's shares before the lender collapsed.

Tesco is considering selling off its loss-making US business Fresh & Easy, announcing it will conduct a strategic review of the retail franchise.

The Investment Management Association (IMA) has criticised FSA proposals aiming to clarify the definition of absolute return funds, warning it risks putting UK-authorised funds at a disadvantage.