Dominique Strauss-Kahn this morning gave in to mounting pressure following his arrest for an alleged sexual assault by resigning from the IMF.

Glencore International has closed its books a day early after its initial 530p per share offer garnered strong investor demand.

The US treasury is battling to slash spending after the country's national debt soared to $14trn, reaching a self-imposed limit set by Congress last century.

Bank of England governor Mervyn King has warned the extended holiday to celebrate the Royal Wedding last month will hurt GDP growth.

The FTSE 100 rose at opening today after a boost from US markets which closed higher on Monday.

The European Union (EU) is preparing to restructure Greece's bail-out package after ministers publicly acknowledged it would need further assistance.

M&G's Richard Woolnough has slashed duration to just 3.3 years on his £3.9bn Optimal Income fund in anticipation of a spike in gilt yields.

Banking shares led the FTSE 100 lower late morning after Lloyds Banking Group revealed it had set aside £3.2bn to compensate customers for missold payment protection insurance.

Oil major BP has agreed a deal with the US Department of Justice to pay $25m following the Prudhoe Bay oil spill in 2006.

The price of gold soared yesterday to hit a new record before falling back following the death of the world's most wanted man, Osama Bin Laden.