Economics / Markets

The multibillion-pound self-certification mortgage industry, in which customers are not required to provide proof of income, is set to be banned by the financial regulator.

Stock markets in the US and Europe rose today with fresh optimism on company profits at the start of the earnings season.

RBS shareholders are considering a £9bn legal claim as shares in the troubled bank plunge.

The FTSE 100 benchmark index shot to its highest level since the day Lehman Brothers filed for bankruptcy last year.

The Dow Jones benchmark index in the US looked set to cap a week of gains, moving up 25.5 points to 9,812.34.

The UK has been hit so hard by the recession it now sits below developing countries Nigeria and Panama in the financial stability rankings, says a report by the World Economic Forum today.

The OECD says its leading indicators for August 2009 continue to point to recovery in all major economies including the UK.

A rise in consumer-focused shares helped push the UK's benchmark share index ahead despite profit-taking in miners and banks.

The Dow Jones raced to a near 75-point lead in early trading on Thursday thanks in part to strong gains from aluminium giant Alcoa.

The FTSE opened buoyantly, up more than 49 points to 5,158.28, on the back of strong performance from mining companies, due to higher metal prices because of the weak dollar.