Economics / Markets

The Irish Republic is poised to unveil the details of a severe austerity budget later, part of a deal to secure an €85bn bail-out from the European Union and International Monetary Fund.

Warren Buffett has pledged $50m to the creation of a UN nuclear fuel bank, keeping a promise the Sage of Omaha made back in 2006.

The high court is today hearing a challenge to the emergency budget on the grounds it will affect females disproportionately.

A flurry of merger and acquisition rumours failed to prevent the FTSE slipping into negative territory after making initial gains on the back of buoyant mining stocks.

The economy will grow by less than expected next year, but growth in 2012 will be better than predicted, the British Chambers of Commerce forecasts.

HSBC is being sued for $9bn by the trustee trying to recover money for the victims of Bernard Madoff's fraud.

The International Monetary Fund has called on the EU authorities to boost their rescue fund and step up bond purchases to insure against a fresh financial crisis in the eurozone periphery.

The European Central Bank has rebuffed calls for mass purchases of southern European bonds, despite growing pressure from Spain and Italy for dramatic action to buttress monetary union.

US markets closed 1% ahead yesterday on a buoyant day for global shares as fears around the European sovereign debt crisis eased.

England has missed out on hosting the 2018 World Cup, after FIFA awarded the prestigious prize to Russia.