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This is Money
Sovereign wealth funds grew to $3,500bn (1,750bn) last year, putting them on track to surpass the entire economic output of the United States within seven years, according to a new study.
Sovereign wealth funds set to outgrow US economy
Britain will find itself alone among the 27 nations of the European Union next month in facing disciplinary action from the European Commission over the gap between its spending and borrowing.
UK faces disciplinary action by EU for breaching budget rules
Britain could be heading for an "avalanche of redundancies" in the coming months as economic reality finally catches up with the jobs market, a leading expert has warned.
UK job cuts feared in economic slowdown
HBOS is set to announce a rights issue of up to 4bn today to shore up its balance sheet as asset writedowns increase and clouds gather over the UK economy. The bank is expected to announce about 3bn of writedowns on its credit-related holdings.
HBOS board prepares for 4bn cash call
The president of Opec has warned that the price of oil could hit $200 (100) a barrel, spelling more pain for the major crude-consuming economies. Chakib Khelil said there was nothing that the oil producers' cartel could do to bring down the high price, which he blamed on geopolitical tensions and market speculators.
Opec head sees oil price hitting $200 a barrel
Petrol is likely to hit 5 a gallon today as hot money from speculators drives the oil price to record levels. Lehman Brothers, the investment bank, has estimated that fuel is 30 per cent overpriced because of an influx of money into the oil market from investment funds.
Oil speculators push price to 5 gallon
Representatives of the world's leading gas producers are discussing Russian proposals for greater cooperation, according to the Iranian oil ministry. Ministers and experts from the Gas Exporting Countries Forum are meeting in Tehran amid speculation that members are considering an Opec-style club for gas producers.
Fears over Russian plan for 'gas Opec'
Northern Rock breached capital rules six months before its collapse, yet failed to tell shareholders and continued to be given favourable light touch treatment by financial regulators, it emerged yesterday.
FSA allowed Northern Rock to keep breaking rules