Treasury

Given the nature of the financial crisis and the depth of the accompanying recession, the recovery process was always going to be a hard grind.

Investors will find little value in Lloyds Banking Group shares due to "limited" growth prospects, a UK equities manager has said.

NEWS ANALYSIS

The Financial Conduct Authority (FCA) has been grilled by MPs over its decision to approve the appointment of Paul Flowers to chair the Co-operative bank back in 2010.

Asset managers and wealth management firms have expressed support for the government's plans to scrutinise partnerships and LLPs in a clampdown on tax avoidance.

Ratings agency Moody's has said it expects US politicians to reach an agreement on the country's debt ceiling, with a default "extremely unlikely".

The US Federal Reserve surprised investors and sent shares soaring after it unexpectedly opted to hold back on any tapering of its stimulus last night.

A group of MPs will next year evaluate the impact of the Retail Distribution Review (RDR) - with a particular focus on the ban on commission - in what represents the first independent, external probe into the RDR's influence.

The US is on course to hit its debt ceiling by mid-October unless the government intervenes, according to Treasury Secretary Jack Lew.

BOND SELL-OFF