Sales of funds of funds reached record highs in the first half of 2011, the Investment Management Association (IMA) has said.

Both Germany and France have ruled out common eurozone bonds as a solution to the bloc's debt crisis.

Sterling fell to its lowest level against the euro for a month after the Bank of England cut its growth forecast for this year.

Nationalised lender Northern Rock has seen losses narrow in the first six months of the year ahead of an expected return to profit in 2012.

US and Asian markets fell overnight on fears the US government will fail to resolve its debt crisis, ahead of a crucial vote by the House of Representatives today.

UK firms made the largest cash payout this quarter since 2008, Capita Registrar's latest dividend report has shown.

UK firms made the largest cash payout this quarter since 2008, Capita Registrar's latest dividend report has shown.

Bank shares began to regain lost ground in early trading today after Friday's stress test results sparked sharp falls among some of the UK's biggest banks.

The Federal Reserve chairman Ben Bernanke has ramped up pressure on Congress to agree on its debt ceiling level, in light of rating agencies S&P's and Moody's threats to cut the US' AAA debt rating.

Japan's leading share index extended its winning streak to six days overnight, it's longest spell of consecutive positive returns since March's earthquake and tsunami.