European Central Bank

European banks have borrowed €529bn from the European Central Bank (ECB) in the second tranche of its three-year long-term refinancing operation (LTRO), asking for more support than forecast.

Multi-managers reveal the funds that helped them navigate their portfolios through a difficult 2011.

The government yesterday said the credit crunch which plagued markets in 2008 has returned.

It may be a small sovereign state compared with Italy and Spain, but fears that Cyprus may be the next EU member state to seek a bailout show no signs of diminishing.

Aviva Investors' Chris Higham has slashed risk exposure in his £1.6bn Corporate Bond and £96m Strategic Bond funds, shifting 25% of the portfolio into cash on fears of a bubble forming in risk assets.

European governments yesterday discussed the prospect of a fresh multi-billion euro bailout for Greece - just a year after committing €110bn - in a bid to calm the markets and stabilise the region's currency.

US markets closed 1% ahead yesterday on a buoyant day for global shares as fears around the European sovereign debt crisis eased.

How small businesses can create their own credit facility using a SSAS

HMRC is facing accusations it cannot cope with the new 50p rate of income tax.

Economic growth in the eurozone will finish higher than forecast in 2010, the European Central Bank (ECB) has said.