Economics / Markets

Royal Bank of Scotland (RBS) and Lloyds have both agreed to defer bonuses in return for an additional £40bn of taxpayers' money as part of a deal with the Government that will break up two of Britain's biggest lenders.

No ‘one shot silver bullet' exists to solve banking's problems, FSA chairman Adair Turner said today.

Ministers are to sell off huge chunks of the state-controlled banks, despite warnings that taxpayers could lose billions of pounds in any fire sale.

UK house prices were higher year-on-year in October, marking the first annual rise for 19 months, the BBC reports.

The US economy has come out of recession, with annualised growth of 3.5% in the third quarter of 2009.

Consumers are paying off personal debts despite the continuing recession, according to the ABI's latest Savings and Protection survey.

The Bank of England's Monetary Policy Committee (MPC) is likely to vote to pump at least an additional £25bn into the economy, reports The Times.

Britain has failed to make it into the top 10 of the world's best places to live in terms of wealth and overall happiness.

George Osborne's call for emergency measures to force bankers to take the bulk of their Christmas bonus in shares has been greeted with ridicule.

Confidence among active investors is at its highest in three and a half years, suggests research by the Association of Investment Companies (AIC).