UK

Economic output per person in the UK will not recover to its pre-crisis peak until 2018, according to the National Institute of Economic and Social Research (NIESR).

Barclays has announced that Chris Lucas, its group finance director, and Mark Harding, the group general counsel, are to retire from the business.

US

Henderson's Job Curtis, manager of the £838m City of London investment trust, said UK equity income investors are experiencing the best conditions since the 1950s.

UK GDP contracted 0.3% in the final quarter of 2012, a worse than expected figure that raises the spectre of a triple-dip recession.

The imminent departure of Mervyn King from the Bank of England has brought about renewed debate over the framing of the policy target set by the Treasury for the Monetary Policy Committee.

CONTRARIAN

UK equity income funds are poised to benefit from a decline in sterling as their portfolios reap the rewards of positions in dollar-denominated dividend payers and overseas earners.

Schroders' head of UK equities Richard Buxton has said the FTSE could be set to move into a higher trading range after the index passed the 6,000 mark in a strong start to 2013.

Equities were the best-selling asset class for the third month running in November, according to the latest IMA sales figures.