UK

The UK's state pension is the second worst in the developed world, with only Mexico giving OAPs a worse average salary replacement rate in retirement, a study has found.

US futures firm MF Global Holding has been ordered to pay $1.2bn (£740m) in restitution to its customers over its collapse.

UK CPI inflation dropped to 2.2% in October, a larger-than-expected fall that sent sterling to a two-month low against the dollar.

The Bank of England is expected to raise its growth forecast for the UK to 3% following the strong recovery the country has seen.

The UK will be the fastest-growing Western economy next year, according to a survey by accountancy firm Grant Thornton.

Lazard Asset Management's UK business has seen profits fall sharply by 75% in 2012 following a rise in outflows as well as a jump in costs.

LIFE AFTER WOODFORD

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The country's top rate of tax has dropped from the fifth to 11th highest in the European Union, according to KPMG.

The International Monetary Fund has upgraded its growth forecast for the British economy amid what it called ‘welcome signs' of a pick-up in activity following the global crash.