Economics / Markets

Pimco's Bill Gross says there will be no housing-led recovery in the US without Government support.

Disappointing economic figures from the US coupled with a warning over a double-dip recession in the UK have plunged global markets further into the red in afternoon trading.

The game of "chicken" being played out by US politicians could increase the risk of a double-dip recession, Bank of America warns.

The FTSE 100 has plunged in late morning trading as renewed concerns over the global economy end the recent rally powered by M&A speculation.

The Japanese yen has hit a 15-year high against the US dollar against a backdrop of inaction by the Government.

America's largest stock markets reported very light trading volumes on Monday as a flurry of M&A activity did little to reassure investors of the strength of the global recovery.

Retail giant Marks and Spencer has announced Robert Swannell will take over as chairman of the company in 2011.

Every single market movement and utterance from an economic sage is being met with speculation about the dreaded double-dip.

A number of the UK's largest banks have warned the proposed changes to the country's regulatory system - including the scrapping of the FSA - will leave too much power in the hands of a small group.

The FTSE 100 was up 0.18% to 5,204.65 in early trading as bid activity in the financial sector boosted the index.