Economics / Markets

The Chancellor George Osborne is to back proposals for harsher punishments for bankers who act recklessly and are considered at least partly responsible for the collapse of financial institutions.

FIVE THINGS

Asian equity markets have followed their European counterparts higher in overnight trading, but investor attention is now firmly focused on the US once again.

The price of oil has broken through $100 a barrel for the first time in almost a year, amid concerns the political turmoil in Egypt could disrupt Middle East supplies.

The Bank of England has said market expectations of future rate rises are "not warranted", sparking a drop in sterling and a 50 point jump in the FTSE 100.

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CHINA

Just 15 months after its creation, The Beaufort Group is seeking a finance director to help lead the group's next phase of growth.

Here are five things clients may have read in the weekend's papers…

Cyprus's debt ratings have been downgraded to "default" after it announced it would delay paying back 1bn euros ($1.3bn; £860m) of bonds.