Investment veteran Warren Buffett has said the chances of the US slipping back into recession are very low, despite fears over the fiscal cliff facing the country at the end of the year.
US GDP growth for the first quarter has been revised down in the second estimate from the Bureau of Economic Analysis (BEA).
Opting for either austerity or growth in the UK will not be enough to tackle the real structural problems facing the country, according to a leading economist.
The worse than expected decline in UK GDP announced today is likely to spur the Bank of England into injecting another £50bn into the economy next month, said Henderson's Simon Ward.