The Bank of England's Monetary Policy Committee has once again kept interest rates on hold at 0.5% and left QE unchanged at £275bn, but the European Central Bank has cut rates back to their historic low of 1%.

Banking and asset management giant Investec has exited the FTSE 100 as part of the latest re-shuffle of the UK's leading share index.

As the eurozone crisis reaches a crescendo, the Bank of England has revealed just how much exposure UK banks have to the region's most troubled economies.

Investec has launched a multi-asset fund for Philip Saunders and John Stopford which aims to provide a one-stop-shop solution for investors wanting emerging markets exposure.

The government yesterday said the credit crunch which plagued markets in 2008 has returned.

Hungary has lost its investment grade credit rating from Moody's after the country went cap in hand to the International Monetary Fund (IMF).

The UK economy grew by 0.5% in the third quarter, the Office for National Statistics confirmed today in its second official estimate.

US GDP was revised down from 2.5% to 2% in the third quarter, the Commerce Department said today.

The president of the Confederation of British Industry (CBI), Sir Roger Carr, has called for an end to the "demonisation" of banks, energy companies and the defence industry.

US shares plunged at opening ahead of an expected announcement politicians have failed to agree a deal to cut the US' sprawling budget deficit.