Economics / Markets

Bank of England (BoE) deputy governor Paul Tucker has admitted quantitative easing (QE) had lost some of its "bite", the Telegraph reports.

The US economy grew more slowly than expected in the second quarter, compounding fears the world's largest economy could be heading back into recession, the latest data has revealed.

UK GDP growth has been revised slightly upwards to a contraction of 0.4% in Q2, according to the final estimate from the Office of National Statistics.

Chancellor George Osborne should abandon his debt reduction target in his Autumn Statement, a leading think-tank has suggested.

UK SPECIAL

The chief executive of Royal Bank of Scotland has predicted the business may restart dividend payments to shareholders after 2013, by which time its restructuring phase should be complete.

Deputy Prime Minister Nick Clegg has called for benefits such as free television licences, winter fuel payments and bus passes to be taken away from wealthy pensioners.

One of the most influential Liberal Democrat members of the coalition has insisted the party will continue to argue for a mansion tax, targeting "unearned wealth".

Asian and US markets closed lower overnight as the latest economic data emerging from leading economies around the world continued to worry investors.

EUROPE