Economics / Markets

Morgan Stanley has warned the global economy is on the brink of recession as the US investment bank slashed its growth forecasts.

The FTSE has continued its downward slide in afternoon trading with banking stocks weighing particularly heavily on the index.

Prudential's head of portfolio management group John Betteridge explains why recent market turbulence should not be compared with the crisis of three years ago.

The UK government is understood to be prepared to shoot down proposals for a financial transaction tax being mooted by Germany and France.

The Office for National Statistics (ONS) has been rebuked by its watchdog for publishing growth data last month which "flattered" the national accounts.

Sterling has dropped against the dollar after the latest MPC minutes revealed no calls for a rate hike and opened the door to further QE.

The Swiss government is preparing to unveil a CHF1.5bn (£1.1bn) package to help the country deal with its soaring currency when it meets later today, Reuters reports.

Global markets are down this morning as investors vent their concern at eurozone leaders' "disappointing" efforts to stop the debt crisis.

US investors jettisoned shares in early trading following a warning from consumer giant Walmart.

Price pressures across a number of areas forced UK CPI annual inflation up from 4.2% in June to 4.4% in July.