Economics / Markets

MOVERS & SHAKERS

Global equity markets are tumbling this morning as the eurozone crisis once again takes centre stage, with Spain's debt costs leaping to a new record high and speculation returning Greece will exit the single currency.

At least $21trn of unreported private wealth was being hidden in secret tax havens at the end of 2010 by the world's super rich, a major study has revealed.

European equity markets have slumped in afternoon trading as Spanish 10-year bond yields approach record highs once again.

Eurozone economies are in critical danger and in dire need of expansive quantitative easing measures from the ECB, according to an International Monetary Fund (IMF) staff report.

WHAT'S HOT

The Co-operative Group has agreed terms with Lloyds Banking Group to purchase 632 bank branches.

The Bank of England said it may reconsider the case for cutting interest rates once the impact of the new funding for lending scheme becomes clear.

David Lawton, acting head of the Financial Services Authority's (FSA's) markets division, has been appointed to the post permanently.

HSBC has apologised to the US Senate after the bank was found to have allowed drug money to be laundered through its accounts.