Economics / Markets

FAIR TAX

Japan's key Nikkei 225 index endured further sharp losses on Thursday, entering a bear market as investors sold Japanese shares ahead of an expected tapering of QE by the US Federal Reserve.

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The UK economy grew by 0.6% in the three months ending May, driven primarily by growth in the production and private services sectors, according to the National Institute of Economic and Social Research (NIESR).

A lack of further easing from the Japanese authorities coupled with fears over QE in Europe rattled markets today, sending the FTSE 100 to a seven-week low, with asset managers among the biggest fallers.

Investors will be offered the chance to buy discounted shares in Lloyds Banking Group, as George Osborne plans to sell taxpayers' stake in the bank sooner rather than later.

Well-known economist Roger Bootle stands to make tens of millions of pounds from the potential sale of his consultancy Capital Economics, in a deal which could value the group at £50m-£70m, according to reports.

The Bank of England has opted against further quantitative easing (QE) at Mervyn King's final Monetary Policy Committee meeting, dashing the governor's hopes of more stimulus.

Lighthouse Group has compensated the former executive chairman, David Hickey, £259,000 following his resignation from the post in August last year.

Sir Mervyn King chairs his last ever Monetary Policy Committee (MPC) meeting today, but will his parting gift be one last blast of the QE tap?