Economics / Markets

SECTOR REPORT

SOAPBOX

Sterling rose against the US dollar in morning trading after the second reading of the UK's economic growth rate confirmed an increase of 0.8% in the third quarter, in line with analysts' expectations.

Most American expatriates have at least questioned their US citizenship due to the impact of the Foreign Account Tax Compliance Act (FATCA), a survey suggests.

US markets have continued to make gains overnight on the back of positive data on the job market.

The UK economy is heading in the right direction but there are a "number of years to go" before a full-blown recovery can be called, Bank of England (BoE) chief economist Spencer Dale has said.

The leading US equity markets hit fresh record highs on Monday, suggesting a ‘Santa rally' is well underway in the run up to Christmas.

M&G Global Basics fund manager Graham French is to leave the group, Investment Week, IFAonline.co.uk's sister title, reports.

FIVE THINGS

Neil Woodford has warned investors in his £1.3bn Edinburgh Investment trust that the recent period of strong performance is unlikely to continue if the Federal Reserve tapers bond purchases.