Economics / Markets

COMMENT

The US economy shrunk in the final quarter of 2012, raising fresh questions about the strength of its economic recovery.

Britain risks seeing its standard of living hit if it leaves the European Union, according to the head of the world's largest bond fund.

A tax agreement between the UK and Switzerland that aims to retrieve tax that should have been paid to the UK has delivered £342m in the first tranche of revenue.

Royal Bank of Scotland (RBS) is to pay up to £250m in bonuses to its investment banking division, including to those implicated in the LIBOR-rigging scandal.

FIVE THINGS

The Upper Tribunal (Tax and Chancery Chamber) has directed the Financial Services Authority (FSA) to fine Swift Trade, a non-FSA authorised Canadian company with global operations, £8m for market abuse.

The number of assets in underperforming 'dog' funds has more than halved since last summer, but more than £12bn remains stuck in such offerings, according to Bestinvest's latest 'Spot the Dog' list.

Threadneedle and Schroders are among the City firms that have been approached about buying a stake in the 316 Royal Bank of Scotland (RBS) branches the bank has put up for sale, according to reports.

Incoming Bank of England (BoE) governor Mark Carney intends to place economic growth at the top of his priority list when he takes on his new role.