Economics / Markets

Business Secretary Vince Cable has warned the government's 81% stake in Royal Bank of Scotland (RBS) may not be sold off for another five years, arguing a quick sale of shares is unlikely.

Advisory firm Perspective Financial Group has shelved its plans to float on AIM.

J.P. Morgan may admit wrongful conduct over its $6bn 'London Whale' trading loss as it nears a settlement with US and UK authorities, according to reports.

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SECTOR REPORT

London's leading share index fell quickly into the red after new Bank of England (BoE) governor Mark Carney unveiled plans to issue market's forward guidance on interest rates.

The Bank of England (BoE) has announced it will not raise the base rate of interest from 0.5% until unemployment falls to 7% or below.

The Bank of England has said it will not raise the base rate of interest before the unemployment rate falls to 7% and warned investors are still expecting rates to rise sooner than is likely.

Falling household savings rates have contributed to the UK's economic recovery and prevented it from sliding back into recession, according to the Trade Union Congress (TUC).

Bank of England (BoE) governor Mark Carney is to unveil new guidance later today, giving the country more certainty on interest rates and economic stimulus.