US

Federal Reserve chairman Ben Bernanke said the Federal Reserve will not take any immediate action to boost the US economy, but said he will employ tools "as appropriate".

US IS NOT FACING ANOTHER 2008

The US Commerce Department has said US GDP rose at an annualised rate of 1% in the second quarter, down from an earlier estimate of 1.3%.

The FTSE 100 is expected to extend gains made in the past few days after Asian and American markets climbed overnight on positive US economic data.

Apple's Steve Jobs has resigned as chief executive of the technology giant, announcing he could no longer continue in the position following his battle with cancer.

German growth lurched sharply lower in the second quarter of 2011, piling more pressure on the eurozone and sending shares in the UK lower in early trading.

Berkshire Hathaway's Warren Buffett has said the US government should immediately raise taxes on high earners to aid the economic recovery.

The head of the World Bank has warned the crisis of confidence sweeping through markets in recent weeks has resulted in a new 'danger zone' for the global economy.

My worst fears about the potential loss of confidence in our leaders, institutions, and capitalism itself are being realised. We have been digging this hole for a long time.

Old Mutual's Stewart Cowley and LGIM's Richard Hodges have reversed their short duration stances and removed their treasury short positions as the flight to safety pushes yields to record lows.