Economics / Markets

European equity markets have extended this week's losses at the open on Friday, after US stocks closed lower overnight, dragged down by the ongoing Greek crisis.

The head of Britain's biggest employers' organisation has intensified the war of words between business and the government after saying it is time for ministers to deliver on their growth-friendly promises.

David Cameron will urge eurozone leaders to "make up or break up" today as he fears the euro unraveling will further dent the British economy.

Sterling has fallen against the dollar today after a dovish quarterly inflation report from the Bank of England cut growth forecasts and left the door open to further QE.

The UK's unemployment rate showed a surprise fall from 8.3% to 8.2% in the first quarter, according to the latest figures from the Office for National Statistics.

Markets across Europe suffered more losses this afternoon after Greece reportedly confirmed it has failed to form a coalition government.

Markets across Europe suffered more losses this afternoon after Greece reportedly confirmed it has failed to form a coalition government.

The eurozone reported zero growth in the first quarter, beating forecasts of a 0.2% contraction and narrowly escaping a technical recession.

Ratings agency Moody's Investors Service has cut the long-term debt and deposit ratings for 26 Italian banks as the crisis in Europe clouds their prospects.

(Updated 9:15am) Asian indices fell overnight, mirroring losses in the US and Europe, over fears about the impact a Greek exit from the single currency could have on the rest of the region.