News

Neil Woodford has delivered a blow to European markets' positive start to the year, warning the eurozone is on the brink of entering recession.

The Bank of England has proposed setting up an internal oversight committee to monitor and assess the processes employed in making financial stability policy decisions.

Bank of England governor Mervyn King has urged investors and public authorities to pay less attention to ratings agencies, which he said have often "rushed" to downgrade.

PIMCO chief executive Mohamed El-Erian has said Greek debtholders need to take a greater haircut than planned in order to make the country's economy sustainable over the medium term.

Newton Investment Management's chief investment officer Jeff Munroe has moved to become head of global equities, as the group shakes up its management team.

Ignis Argonaut's Barry Norris believes concerns over a possible euro collapse are overstated, despite S&P's raft of downgrades last Friday putting further pressure on the single currency.

Egypt has asked the International Monetary Fund (IMF) to grant it a $3.2bn standby facility in order to help the country shore up its economy.

EVENTS

UK CPI inflation fell from 4.8% in November 2011 to 4.2% last month, the largest drop since December 2008, according to the Office for National Statistics.

Tesco CEO Phil Clarke should decline his bonus to atone for approving a senior executive's share sale a week prior to its major profit warning, according to a leading investor in the company.