UK

Standard & Poor's downgrade of Ireland's credit rating was "inevitable", and other ratings agencies are likely to follow suit, says Schroders.

The FTSE advanced in early trading following positive overnight signs in the US and a mini rally in Asia.

The Manek Growth fund has once again soared to the top of the UK All Companies sector, outperforming its closest competitor by 13.2% over the past three months.

The Tories faced renewed questions over their links to rich tycoons last night after accepting a £500,000 donation from a City boss who revels in his comparison to a notorious Hollywood villain.

STOP BASHING ACTIVE FUNDS

The FTSE 100 opened 0.11% higher to 5,211 in early trading following a flurry of M&A activity.

South Korea state-owned oil company KNOC has launched a £1.87bn hostile takeover bid for Dana Petroleum, a figure likely to tempt the Aberdeen-based group's largest shareholder Schroders.

UK INCOME

UK GROWTH

UK public sector borrowing fell to £3.8bn in July, down from £6.1bn in July 2009, suggesting the nation's finances are starting to recover.