The IMF has raised its estimate for global growth this year by 0.4% to 4.6%, reflecting a stronger-than-expected first half.

Renowned investment guru Jim Rogers continues to avoid investing in the UK, believing the country's "staggering" debt problems are unlikely to improve.

The FTSE 100 suffered a 1.3% drop in early trading as growth concerns in the US led to renewed global jitters.

Investec could offload Rensburg Fund Management after receiving a number of expressions of interest in the business.

Barclays Wealth chief economist Michael Dicks believes the UK faces a one in three chance of entering a "double-dip" recession next year.

Former shareholders of Bradford & Bingley (B&B) should not get any compensation after the troubled lender was divided and sold, an independent valuer says.

The Government could look to offload part of its RBS stake as early as next year as the bank moves to complete an overhaul of its business, chief executive Stephen Hester says.

Lloyds is coming under pressure from shareholders to sell Scottish Widows, which could fetch the banking giant about £7bn.

Peter Hicks, head of UK retail sales at Fidelity International, has been promoted to product director, UK equities, effective from 1 August.

Economists are broadly positive on measures announced in the emergency Budget and are scrambling to revise their own growth forecasts in light of the austerity measures.