Bank of England (BoE) governor Mark Carney has warned the 2% target for inflation has become a "dangerous distraction" for the UK's policymakers.

Investment consultancy P-Solve is to merge with asset manager River and Mercantile and is planning an initial public offering (IPO) to fund its growth plans.

A series of shock rate hikes have failed to prevent a fresh sell-off in emerging market currencies, with developed market equities including the FTSE 100 also caught in the storm.

The UK's headline inflation rate fell to 2% in December, rounding off a near 1% fall since the summer, official data has shown.

The UK's headline inflation rate has fallen to its lowest level in four years after edging down to 2.1% in November.

The UK's surprise economic recovery looks on course to continue as Chancellor George Osborne raised his forecast for UK growth over the next few years.

Aviva Investors is to cut 6% of its workforce around the globe as part of parent company Aviva Group's major cost-cutting plans.

US employment figures for September have missed expectations which could all but rules out the prospect of a slowdown in US quantiative easing (QE) before 2014.

Bank of England governor Mark Carney has said the UK economy is recovering and does not need a further expansion of the quantitative easing (QE) programme.

The US Federal Reserve surprised investors and sent shares soaring after it unexpectedly opted to hold back on any tapering of its stimulus last night.