Economics / Markets

The Office for National Statistics has revised up its estimate of second quarter growth from a 0.7% contraction to a fall of 0.5%.

Official GDP figures for the second quarter will be revised later today after better-than expected construction and industrial production figures.

Royal Bank of Scotland (RBS) will be hit with greater fines than Barclays over the LIBOR-fixing scandal, a member of the Treasury select committee has claimed.

Pensioners are being left "permanently impoverished" by quantitative easing (QE) and analysis from the Bank of England (BoE) denying negative impacts is wrong, Ros Altmann has said.

The spot price of gold climbed by over 1% to $1,655 an ounce as the Federal Reserve said it is likely to ease monetary policy soon unless there is a sharp change in economic data.

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The successor to Mervyn King will have an "unduly powerful role" thanks to Treasury plans to extend the powers available to the Bank of England (BoE), one of the bank's advisers has warned.

US Federal authorities are reportedly investigating RBS over possible dealings with Iran, the latest case of a UK bank coming under scrutiny from US regulators.

The Institute of Directors (IoD) has called on George Osborne to do more to cut taxes, reduce red tape and invest in new infrastructure in order to boost economic growth.