Economics / Markets

Lloyds Banking Group has declined to comment on fresh speculation the company is looking to sell Scottish Widows.

Retail sales staged an unexpected recovery in March, providing some respite for the embattled high street.

The FTSE has extended yesterday's gains, adding 0.2% in early trading, as strong corporate earnings and upbeat economic data continue to power the index.

BP has lauched a $40bn (£24bn) lawsuit against Transocean, the owner of the Deepwater Horizon rig that exploded in the Gulf of Mexico last year.

Gold rose to a record high above $1,500 a troy ounce and silver soared past $45 yesterday as developed countries' huge debt burden further pushed the appeal of the precious metals.

Financials dominate Forbes 2010 list of the biggest, most powerful companies in the world after a year of stellar performance and eye-watering profits.

British taxpayers are set to stump up more than £10bn to cover EU spending in 2012 - almost £700m more than they paid in 2010, according to The Telegraph.

Updated at 14.30: London's FTSE has stormed through the 6,000 barrier to hit 6026, up 2.2%, as strong corporate earnings and a new record high for gold prices triggered a European rally.

The Monetary Policy Committee (MPC) was again divided six-three against a rate rise earlier this month, minutes from the April meeting reveal.

The final cost to BP from the Gulf of Mexico oil spill disaster could reach $60bn (£37bn), according to fresh analysis from ratings agency Moody's.