Economics / Markets

US markets plummeted almost 4% yesterday as the fallout from the eurozone crisis continued to escalate.

The FTSE closed on Thursday deep in negative territory after German Chancellor Angela Merkel stepped up calls for tougher regulation of banks and financial markets.

Dubai World has come to a provisional agreement with its lenders to restructure $23.5bn (£16.4bn) of debt.

Capital gains tax (CGT) will rise and a cut in inheritance tax (IT) will be put on the back-burner as part of the Government's overhaul of the taxation system.

The coalition government has confirmed auto-enrolment into workplace pension schemes will go ahead.

European markets advanced in early trading Thursday ahead of a key conference on global financial reform in Berlin.

After days of political back-stabbing and intrigue, the new coalition government was finally unveiled last week.

The Dow plunged 1% in early trade today following German Chancellor Angela Merkel's warning the euro could collapse.

Miners are among the early fallers on the FTSE as European markets tumble following a ban on naked short-selling in Germany.

The Government's first foray to Brussels ended with defeat for George Osborne yesterday as European Union finance ministers backed a tough crackdown on the City.