Economics / Markets

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.

Sterling rose against the dollar and the euro after monetary policy committee (MPC) minutes for February showed a more hawkish outlook than expected.

Monetary Policy Committee (MPC) hawk Andrew Sentance has upped to 0.5% the amount he believes interest rates should immediately rise.

Continuing unrest in Libya has dragged global markets down, with London's leading share index dropping back below the 6,000 mark reached yesterday afternoon.

RSM Tenon Group, the national firm of advisers and accountants, saw underlying profit climb 53% in the second half of last year.

Japan's credit rating has been cut to ‘negative' by Moody's on debt level concerns.

European and Asian markets were sharply lower on Tuesday as sentiment was hit by escalating tensions in Libya and an earthquake in New Zealand's second-largest city which has killed at least 65 people.