UK

Speculation the Bank of England will lower its economic growth forecasts has caused the pound to slump in afternoon trading.

Crispin Odey, the founder of Odey Asset Management, is buying UK banks in the view increased capital requirements will boost profit margins.

The FTSE 250 could rise a further 15% in 2011 despite surging more than 25% in 2010, said Old Mutual Asset Managers mid-cap specialist Richard Watts.

Jupiter income manager Tony Nutt has made the Sunday Times Rich List for the first time with a fortune of £76m.

WHEN SHOULD RATES GO UP?

Fund bounces back through focus on companies that have benefitted from the recession

Bailed-out Lloyds Banking Group has made a £3.2bn provision for the cost of mis-selling payment protection insurance (PPI), driving the bank to a loss in Q1.

Britain's economic growth will fall significantly short of official forecasts as government cuts take their toll, according to a leading think-tank.

Schroders saw its share price fall more than 5% on the release of its first-quarter results this morning.

Lehman Brothers Holdings is claiming $500m from Barclays for allegedly failing to pay all the bonuses it agreed to when it bought the defunct investment firm's North American business.