Economics / Markets

Prudential is expected to palm off part of the cost of its aborted £24bn bid for Asian rival AIA on to the UK taxpayer.

The FTSE 100 opened strongly at the start of the week, boosted by Friday's late rally on Wall Street and positive corporate news.

UK industrial output declined 0.5% between May and June, driven by a hefty fall in oil and gas production, according to the Office for National Statistics (ONS).

The FTSE 100 has fallen sharply this afternoon on news 131,000 jobs were shed in the US last month.

Markets are braced for more gloomy news on the western economies with US data expected to confirm a poor outlook for jobs and shaky confidence.

The FTSE 100 opened in positive territory as strong results from majority-nationalised bank RBS crowned off a largely impressive results week for the UK banking sector.

Bank of England's Monetary Policy Committee (MPC) today held interest rates at 0.5% - marking the 17th consecutive month they have been held at the historical low.

Barclays has posted profits of £3.95bn for the first half of 2010, up 44% on the same period last year.

The FTSE fell in early trading in reaction to losses on Wall Street overnight and a weak opening in European markets.

Henderson chief economist Simon Ward questions whether monetary tightening and fiscal cutbacks could send the global economy into a ‘double dip' recession.