Economics / Markets

The UK's soaring budget deficit has relegated it to the ranks of the "PIIGS", says research by RBC Capital Markets.

The Bank of England's Monetary Policy Committee (MPC) voted unanimously to keep interest rates on hold this month.

The FTSE was up 27.5 points (0.5%) to 5271.63, buoyed by gains among mining firms.

The EU has stripped Greece of its vote at a crucial meeting next month - the worst humiliation ever suffered by an EU member state.

Boosting economic growth is more important than controlling inflation, advisers say.

The eurozone economy will only grow around 1% this year, according to the head of the single currency block.

UK inflation has hit 3.5%, prompting Mervyn King to write a letter of explanation to the Chancellor.

Bosses are being forced to make business loans on their credit cards because bankers are still refusing to lend them money.

Barclays has reported a 92% increase in full-year profits.

Barclays jumped 8% in early trade after posting bumper annual profits, helping the FTSE to a 1.2% gain.