Economics / Markets

The FTSE 100 plunged 1.95% this afternoon as miners continued to weigh on the index following Australian plans to levy a 40% tax. The index fell 108.4 points to 5,444.89.

Miners fell sharply this morning on news the Australian government plans to introduce a new 40% tax on resource projects from July 2012.

Anybody who advises a friend to take out an ISA or gives them a similar tax-saving tip risks a £5,000 fine, experts warned yesterday.

Bank of England Governor Mervyn King believes interest rates in Britain will stay lower for longer than the markets expect to compensate for the fiscal pain ahead.

The FTSE has fallen steadily this afternoon as investors failed to take confidence in strong Q1 results from Barclays.

Politicians love using music to get their message across to the masses. But if X-Factor has taught us anything, it's not everyone should be trusted with picking the party music.

Gordon Brown, David Cameron and Nick Clegg are heading in different directions over the timetable and rate of a levy on Britain's banks.

David Cameron appeared to come out top in the final and most crucial of the TV leaders' debates in which he accused Labour of failing to significantly improve the country's economy.

The US Federal Reserve expects to hold its main interest rate at a near zero level for an "extended period".

Franklin Templeton's Mark Mobius says letting Greece default on its debt would be the best way to ease the European fiscal crisis and calm contagion concerns.