IMF

European markets climbed this morning on news IMF head Dominique Strauss-Kahn had resigned following sex crime allegations.

Dominique Strauss-Kahn this morning gave in to mounting pressure following his arrest for an alleged sexual assault by resigning from the IMF.

Dominique Strauss-Kahn's role as head of the International Monetary Fund (IMF) looks increasingly untenable following comments from US Treasury Secretary Tim Geithner he "cannot run" the IMF.

European governments yesterday discussed the prospect of a fresh multi-billion euro bailout for Greece - just a year after committing €110bn - in a bid to calm the markets and stabilise the region's currency.

European markets opened lower on news of IMF chief Dominique Strauss-Kahn's arrest on sexual assault charges, amid fears his absence from eurozone talks will delay bailout plans for Portugal and Greece.

European debt crisis talks have fallen into disarray as the head of the International Monetary Fund, Dominique Strauss-Kahn, was charged with sexually assaulting a maid in a New York hotel.

Government austerity measures and high levels of consumer debt pose "strong headwinds" for the UK's economic recovery, the IMF has warned.

Portugal's caretaker prime minister Jose Socrates has announced he has reached agreement on a bail-out from the EU and the International Monetary Fund.

The IMF has cut growth expectations for the UK for this year to 1.7%, down 0.3% from its previous prediction in January.

China is cutting import tariffs and easing restrictions in an attempt to re-balance its trade policy, says US Treasury Secretary Timothy Geithner.