Global

US Republican presidential candidate Mitt Romney is the front-runner to challenge Barack Obama for the Presidency after securing the swing state of Ohio on Tuesday night.

Lehman Brothers has emerged from bankruptcy and is now a liquidating company that will begin the process of paying back its creditors and investors before finally being wound up.

A "disorderly" default in Greece could cause more than €1trn (£833bn) damage to the eurozone, a confidential report has warned.

China has cut its annual economic growth target for the first time in eight years, lowering its forecast to below 8% for the first time since 2004.

FIVE THINGS

Recent market uncertainty has seen extreme volatility in investment markets over the last few years.

Eurozone members have delayed the approval of more than half of the €130bn loan for Greece, raising fears the troubled economy will officially default.

EUROPE: TIME TO BUY?

Don't listen to the scaremongering - with stocks on the rise and an improved macro outlook, Europe offers rich pickings.

Martin Weale voiced fears over "persistent" inflation yesterday in a hawkish speech underlining the growing splits at the Bank of England over the path of monetary policy.