Economics / Markets

The UK economy may see little or no growth in 2013 in what could represent a 'groundhog year' for Britain, a thinktank has warned.

TOP TEN

UBS is to pay out $1.5bn in fines after it admitted its role in fixing the interbank lending rate.

UK CPI inflation remained at 2.7% in October, broadly in line with economists' expectations, as RPI inflation fell from 3.2% to 3%.

FIVE THINGS

Senior MPs want to call former Financial Services Authority (FSA) chief executive Hector Sants before the banking standards commission to explain how he will overhaul Barclays' troubled culture.

The Queen has spoken about "lax" City workers and a banking regulator which "didn't have the teeth" to intervene as she discussed the causes of the financial crisis during a visit to the Bank of England

S&P said it could lower the UK's rating "if fiscal performance weakens beyond our current expectations".

Barclays could slash as many as 2,000 jobs from its investment banking arm as part of a broad restructuring of the company.

The US Federal Reserve has expanded the scope of its quantitative easing programme and suggested interest rates will not rise until US unemployment falls below 6.5%.