The US economy shrunk in the final quarter of 2012, raising fresh questions about the strength of its economic recovery.
Apple shares have fallen 12% at the start of US trading as investors took flight after the world's largest company reported weaker-than-expected iPhone sales.
The US authorities have released their final set of rules on the FATCA regime designed to prevent tax evasion among US citizens with assets in offshore accounts.
President Barack Obama signed into law the ‘fiscal cliff' bill on Wednesday 2 January 2013 designed to prevent the country rolling out sharp spending cuts and sweeping tax rises.
The US Treasury has ruled out minting a $1 trillion dollar platinum coin as a way to circumvent the need to raise its national borrowing limit next month.
Bob Doll, chief equity strategist at Nuveen Asset Management, has made ten predictions for 2013, warning the political process in Washington D.C. surrounding the fiscal cliff is the most immediate risk.
The FTSE 100 has started to recover during this morning's trading, after its first poor finish since the start of the year on Monday.