Economics / Markets

The UK's main inflation rate has jumped sharply to 2.7% in October, having fallen to a 34-month low of 2.2% in September.

David Cameron has issued one of his strongest defences of the banking sector yet, telling the Lord Major's banquet those who "trash the banks would end up trashing Britain".

FIVE THINGS

London's leading share index has opened flat in early trading, with investors cautious as Greek default fears resurface.

The Bank of England (BoE) is to hand the Treasury the interest it receives on its QE asset purchases, a move that reduces pressure on Chancellor George Osborne ahead of the Autumn Statement.

US markets posted heavy losses for the second successive day of trading, amid fears Greece is set to default on a €5bn debt payment due next week.

The US may slip into recession if it were to fall off the fiscal cliff at the end of the year, the country's Congressional Budget Office (CBO) has warned.

The Bank of England has kept interest rates on hold for the 44th consecutive month and refrained from launching a fresh round of quantitative easing (QE) after recent data showed the UK exited recession in the third quarter.

The man in charge of ensuring Britain's financial stability has warned MPs current plans to make banks safer do not go far enough, the Independent reports.

Self-invested personal pension (SIPP) provider Intelligent Money has sold its direct-to-consumer (D2C) business to discount broker Clubfinance.