Economics / Markets

The UK economy officially grew by 0.5% in Q1, according to the Office for National Statistics'(ONS) third and final estimate for the period.

MPC dove Adam Posen has blasted as "nonsense" criticism of Britain's soft interest rate policy from the world's central bank.

Old Mutual Asset Manager's Stuart Cowley and Fidelity's Trevor Greetham have clashed over the success of the measures being undertaken to aid the recoveries in the UK and US.

The Bank for International Settlements (BIS) has warned low interest rates across the globe are a threat to world financial stability.

US Gross Domestic Product (GDP) increased at an annual rate of 1.9% in Q1 2011, marginally up from its previous estimate of 1.8%.

With Facebook being valued at $60bn, there are fears another dotcom bubble is forming, ten years after the last one.

The oil price fell by $6 after the International Energy Agency (IEA) said it would make available an extra 60m barrels.

The FTSE 100 was down more than 1.3% in early afternoon trading as weak data from China and ongoing fears for the US economy hit risk assets.

The FTSE has opened in negative territory after a gloomy assessment of the US economy pushed European shares lower.

David Cameron will today tell EU leaders to "agree a plan and to stick to it" amid fears Europe's disunited response to the Greek debt crisis will engulf the eurozone and drag down the pound.