Economics / Markets

The UK economy grew by 0.5% in the third quarter, the Office for National Statistics confirmed today in its second official estimate.

A dire German bond auction rocked markets overnight, with Japan's Nikkei index hitting its lowest level since April 2009 as fears deepened over the eurozone crisis.

Baker Tilly senior tax partner George Bull outlines his predictions for next Tuesday's announcement.

The Bank of England's Monetary Policy Committee voted unanimously in favour of keeping bank rate at a record low of 0.5% and maintaining QE at current levels, while warning inflation is not likely to fall as fast as expected.

The US supercommittee's failure to agree a debt reduction plan means the country faces a second rating downgrade by the year end, an economist has warned.

A Financial Policy Committee member has branded lobbying tactics by banks against tighter financial regulation as "intellectually dishonest and potentially damaging".

The Treasury is preparing to water down a key recommendation in the Vickers report that would protect savers in the event of a bank going bust, according to reports.

Fears of a financial crisis hitting the UK are at their highest level since the collapse of Lehman Brothers, Bank of England research has revealed.

3.10pm: US markets have shrugged off poor third-quarter GDP results with trading muted early in the session.

US GDP was revised down from 2.5% to 2% in the third quarter, the Commerce Department said today.