Economics / Markets

Plans to double the minimum compensation levels for account holders in the EU to €100,000 if their bank collapses were unveiled today by the European Commission (EC).

BP is gearing up to unveil a $40bn (£26.5bn) defence strategy in the teeth of growing speculation US predators have been given the green light by Washington to swoop on the British company.

The FTSE 100 edged higher in early morning trading, up 0.31% or 15.80 points to 5,148.74.

HSBC, Barclays and RBS are among 15 Wall Street banks accused by a US investment firm of mis-selling a total of $2.4bn (£1.6bn) in mortgage-backed securities.

Chancellor George Osborne is considering dropping the Pre-Budget Report from the coalition Government's roster of economic events.

The Bank of England's Monetary Policy Committee (MPC) today held interest rates at their historic low of 0.5%.

The FTSE opened more than 1% higher on Thursday after Wall Street rallied the most in six weeks to edge back above the 10,000 point barrier.

The IMF has raised its estimate for global growth this year by 0.4% to 4.6%, reflecting a stronger-than-expected first half.

Updated 2pm: The FTSE posted triple-digit gains in afternoon trading today as renewed optimism about the banking sector buoyed investor sentiment.

The FTSE 100 suffered a 1.3% drop in early trading as growth concerns in the US led to renewed global jitters.