UK

UK GDP for the fourth quarter of 2011 dropped by 0.2%, a worse than expected figure that will heighten fears of a double-dip recession.

Shares in Asia climbed overnight despite a stalemate in Europe as talks between Greek bondholders and politicians dragged on.

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EQUITIES

Gilt yields have fallen to another record low as investors' appetite for UK debt remains strong amid eurozone woes.

St James's Place (SJP) welcomed £5.2bn worth of new single investments in 2011 as the wealth manager boosted total funds under management to £28.5bn, up 6% over the year.

The UK may have to fork out £17.5bn to plug a funding shortfall at the International Monetary Fund (IMF) after the organisation warned yesterday it needed additional funds to tackle the eurozone crisis.

UK unemployment rose by 118,000 in the three months to November to 2.69 million, the highest level since 1996.