Economics / Markets

Tim Geithner, the US Treasury secretary, shrugged off warnings from a leading ratings agency about the US public finances as he sought to reassure Wall Street that the world's biggest economy would be able to maintain its highly-prized AAA rating.

US markets opened higher this afternoon after shaking off losses sparked by yesterday's surprise Standard & Poor's downgrade of the outlook for US debt.

Over-regulation by the FSA and some of the highest income tax in the world is deterring business from investing in the UK, and putting the country's recovery at risk, according to a CBI report.

Three European asset management firms have accused banks including Bank of America Corp., JPMorgan Chase & Co., HSBC Holdings Plc, Barclays Bank Plc and Credit Suisse Group AG of conspiring to manipulate Libor.

Warren Buffett, Bill Gross and UK fund stars including Jim Leaviss have seen their warnings on US treasuries proved right as S&P downgraded its outlook for US credit.

Standard & Poor's has cut its credit outlook for the US from stable to negative for the first time since 1941, causing the dollar and shares to tumble.

Nationals round-up: House prices could be a worry over the next few years, while income protection is back on the agenda...

The Monetary Policy Committee (MPC) should keep interest rates at 0.5% until November, as any rise will cause "disastrous consequences" for the UK economy, a group of influential economists has warned.

The president of the World Bank has warned that the world is "one shock away from a full-blown crisis".

Michael Ellam, managing director of the Treasury's international and finance directorate, has been appointed chairman of the EU's financial services regulation committee.