Economics / Markets

Savers in UK banks will be given greater protection under measures to be announced by the Chancellor later today.

The UK narrowly escaped a double-dip recession by posting slight growth in the second quarter of the year, according to the latest monthly GDP estimate from NIESR.

The average pay for FTSE 100 chief executives rose 10% in the past year to £4.8m, according to research.

The Office for National Statistics has proposed a new inflation measure to replace the Consumer Prices Index (CPI) which would include housing costs in the calculation.

Europe's major markets climbed on the first day of trading after Spain was granted a €100bn bailout for its banking sector.

Vince Cable is understood to be reconsidering a hard-hitting proposal that would see chief executives face an annual binding vote on their pay and bonuses.

A €100bn deal to shore up Spain's banking sector has boosted the euro and financial markets.

London's FTSE 100 slipped into the red in early trading this morning after Fitch Ratings cut Spain's long-term credit rating and predicted a slump through 2013.

The Bank of England's Monetary Policy Committee (MPC) today resisted calls to expand its quantitative easing programme and cut interest rates, even though the UK is officially back in recession.

UK house prices will end the year at the same level as now owing to tough economic conditions, a lender has predicted.