Economics / Markets

Vince Cable has voiced concerns over the appointment of Bob Diamond as the new Barclays chief executive, fuelling the row over whether big banks should be broken up.

The FTSE 100 fell 0.85% or 46.36 points to 5,392.83 this morning with Barclays among the biggest losers.

Barclays is set to name its investment banking boss Bob Diamond as successor to current chief executive John Varley.

US President Barack Obama has unveiled a $50bn infrastructure spending package aimed at reviving the faltering American economy and cutting the country's mounting unemployment.

Britain's largest banks will present their "living wills" to the FSA next month, ahead of the G20 summit of leading industrialised nations in South Korea.

The FTSE 100 opened higher, up 0.47% or 25.67 points to 5,453.82, in response to Friday's better than expected US jobs data.

Chancellor George Osborne will scrap the Pre-Budget Report this year and replace it with a slimmed-down autumn statement.

The lack of international acquisitions by UK companies is holding up the nation's economic recovery while countries such as India and China thrive, according to KPMG.

Economic growth in the eurozone will finish higher than forecast in 2010, the European Central Bank (ECB) has said.

Trading volumes fell overnight in the US ahead of key job market data set to be released later today.