Economics / Markets

Global markets are continuing to fight back with all the leading indices trading in the black after G7 finance ministers agreed to cool the soaring yen.

UK banks have about £136bn of exposure to crisis-struck Japan, but it is "too soon" to judge the full hit to Britain's financial sector, the FSA says.

The Dow Jones posted strong gains in early trading on Thursday as a cooling operation at the tsunami-hit Fukushima Daiichi nuclear plant eased investor fears.

Consumers are increasingly pessimistic about the Bank of England's ability to control high inflation, but few have a plan to move their savings out of banks and building societies to seek higher returns.

The FTSE ticked 40 points higher in early trade on Thursday as investors paused for breath following days of volatility as a result of the nuclear crisis in Japan.

RBS chief executive Stephen Hester has told MPs he considers his remuneration package to be low by industry standards.

FSA chairman Lord Turner last night said the amount of high quality capital banks should hold as a risk buffer should be double the current requirement.

The UK's economic recovery slowed in the second half of last year and will remain 'subdued' throughout 2011, the Organisation for Economic Co-operation and Development (OECD) predicts.

The UK unemployment rate rose to 8% in the three months to the end of January, lead by the highest number of out of work young people since records began.

Moody's has downgraded Portugal's government debt two more notches because of "subdued" growth prospects.