Economics / Markets

Chancellor George Osborne is to tell the electorate this week that his debt plans are in ruins, with the deadline for bringing UK debt down pushed back by many years.

Politicians in Cyprus are to hold an emergency parliamentary session to debate the 10bn-euro bailout which has angered the public.

CRYSTAL BALL

Outgoing Bank of England(BoE) governor Sir Mervyn King said last night the pound is now "properly valued" in a move to halt its slide.

Lloyds Banking Group has been criticised after announcing 550 job cuts which trade union Unite said would come on top of the 1,340 lay-offs revealed earlier this year.

SOAPBOX

LATIN AMERICA

Barclays Bank has agreed to compensate some customers affected by its takeover of ING Direct UK, if the move compromises savers' protection under the Financial Services Compensation Scheme (FSCS).

A gang who made a film starring a former Eastenders actor solely as a £2.8m tax scam have been convicted at Southwark Crown Court.

Asian shares took a breather on Wednesday, struggling for traction as some investors locked in profits from the markets' recent rally while a bit of yen strength capped the upside for Japanese stocks.