UK

The UK's accounting rules are distorting bank profits and leading to confusion over executive pay, some of the country's largest investors have have warned.

A plan to merge National Insurance (NI) with income tax would increase wages, create jobs and help reduce costs, business leaders have said.

It has been a hectic year for investors, with the eurozone debacle driving core bond yields to record lows, while equity markets were buffeted by fears over China and the US.

The FTSE 100's dismal week continued today as the UK's leading index fell to a four-month low, and remains on course to make a loss for the week.

The UK's main inflation rate has jumped sharply to 2.7% in October, having fallen to a 34-month low of 2.2% in September.

The FTSE 100 is approaching an 16-month high today as investors around the globe welcomed Barack Obama's US election victory.

Raymond James has become the first platform to distribute Hermes' UCITs fund range.

FINANCIALS

UK think-tank NIESR has revised down its growth forecast for the UK next year, despite a strong third quarter which has seen the economy emerge from recession.

Liontrust is to launch an offshore version of its popular Special Situations unit trust early next month.