UK

The City watchdog is considering whether Britain can claim exemption from European laws that will introduce the toughest pay restrictions in the world.

Aviva Investors will take over the Henderson International Property fund from 2 August.

Investec could offload Rensburg Fund Management after receiving a number of expressions of interest in the business.

Barclays Wealth chief economist Michael Dicks believes the UK faces a one in three chance of entering a "double-dip" recession next year.

Henderson head of multi-manager Mark Harris has labelled current markets "deeply oversold", believing the FTSE 100 could be upwards of 15-20% higher by next year.

Fidelity's Tom Ewing has seen the value of his small stake in Ocado double in just 10 months after the online grocer unveiled the details of its IPO this morning.

The Bank of England will keep interest rates on hold until at least May 2011 as the Government's recent spending cuts weigh on the economic recovery, the British Chambers of Commerce believes.

Former shareholders of Bradford & Bingley should not get any compensation after the troubled lender was divided and sold, an independent valuer says.

BP shares have moved almost 5% higher this afternoon as Libya's top oil official recommended the North African country to buy into the stricken giant.

The Government could look to offload part of its RBS stake as early as next year as the bank moves to complete an overhaul of its business, chief executive Stephen Hester says.