Treasury

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

The FTSE has tumbled as much as 2% as US ten-year yields touch two-year highs in expectation of an imminent slowdown of the Federal Reserve's quantitative easing programme.

The Treasury is to launch an advertising campaign promoting the Equitable Life compensation scheme after a damning report said its performance had been "unacceptably poor".

LLOYDS

Banks, housebuilders and agents are expected to benefit from the government's lending schemes.