Barack Obama

The UK opposition Conservative party is likely to follow the lead of Barack Obama , US president, and introduce similar trading curbs for banks based in the City if elected, George Osborne, the shadow chancellor, said Thursday night.

In early trading, the FTSE was steady as a response to President Obama's statement on banking regulation, rising 0.1% to 5343.23, however financial stocks fell as UK markets opened.

Federal Reserve chairman, Ben Bernanke, has defended the US central banks response to the credit crunch as he fights for a second term in office.

The US government and benefits' systems is in need of serious reform. But how far has this situation gone? Paul Robertson talks to David John to find out.

Since his election victory in early November Barack Obama has put the tools in place to oversee a new period of economic growth in the US, leading investment houses say.