Economics / Markets

Britain's fall back into recession will drag on until June at the earliest and condemn the country to another lost year, economists have warned.

Barclays has seen its payment protection insurance (PPI) exposure rise by £300m in an indication other banks may also face higher bills for the mis-selling of the insurance.

RBS chief Stephen Hester has said it was "uncomfortable" to work at the bailed-out bank whilst suggesting the Government's 82% stake in the bank was slowing down its recovery.

Federal Reserve chairman Ben Bernanke said the central bank is unlikely to pump further stimulus into the US economy unless it sees an unexpected sharp deterioration.

Adjusted profits at UK lender Barclays surged by over a fifth in the first quarter of 2012, well above expectations.

Oil giant Royal Dutch Shell has reported a rise in profits owing partly to strong demand for energy which is keeping oil prices high.

Royal Bank of Scotland could see £20bn wiped off its value if planned banking reforms go ahead, its top boss has said.

HSBC is to cut 2,000 jobs in the UK by the end of next year as part of its cost-cutting drive, according to reports.

The fear of another financial crisis will drive regulatory thinking for the next two decades as the philosophy of light-touch regulation disappears, according to Royal London Asset Management (RLAM).

Industry commentators forecast an even gloomier second quarter after the Office for National Statistics revealed the UK slid back into recession in Q1, with negative growth of 0.2%.