Economics / Markets

US stocks closed lower on Friday despite a strong labour market report for February, as the oil price continued to rise, driven by continuing turmoil in Libya.

European Central Bank president Jean-Claude Trichet has hinted interest rates may rise next month to fend off inflation pressures.

The chief executive of UBS has attacked the government for its neglect of the City, warning tougher regulations could see investment banking businesses move from the UK and Europe to Asia and the US.

The UK could be entering a "profoundly different" era of slow growth and high debt reminiscent of the economic ills engulfing Japan, says the BBC's economics editor Stephanie Flanders.

Ongoing disruption in the Middle East and the higher oil price has dragged on global markets, with many seeing losses of more than 1%.

Billionaire investor Warren Buffett's bullish outlook for the US has boosted markets, pushing the Dow Jones up 96 points and the FTSE back above the 6,000 mark.

The FTSE has opened trading in negative territory as fears over the fallout in Libya continue to unsettle investors.

The contraction in the UK economy in the last quarter of 2010 was slightly worse than previously estimated, according to figures from the Office for National Statistics released today.

The family of the US Securities and Exchange Commission's (SEC) top lawyer made $1.5m by investing with fraudster Bernard Madoff, according to a trustee for victims of the ponzi scheme.

Royal Bank of Scotland (RBS) has reported an annual loss of £1.13bn for 2010, improving on the previous year but still falling short of analyst expectations.