Eurozone

ON EUROPE

CONJECTURE

Eurozone growth slowed for the second month in a row in June, according to the Purchasing Managers Index (PMI).

Russian President Dmitry Medvedev believes the Gulf of Mexico spill could lead to the "annihilation" of oil giant BP.

Fears over Spain escalated yesterday as investors sold off government bonds on warnings of funding problems for the country's companies and banks.

Billionaire investor George Soros, the man who broke the Bank of England, says the financial crisis has "just entered Act II" as Europe's fiscal woes worsen.

COMMENT

EUROPE

UK stocks have tumbled sharply this morning after Fitch labelled Britain's fiscal challenge as "formidable".

The Government would have to double the scale of the cuts it has already planned to come anywhere near to Canada's example of a public sector bonfire, experts have said.