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The head of Germanys biggest bank said that he doubts that Greece will be able to repay its debts. The admission from Josef Ackermann, chief executive of Deutsche Bank, made in a German television interview, that Greece may be unable to repay bondholders is likely to further pressure Europes financial markets.
Deutsche Banks doubts over debts
More than five million home owners will be unable to afford a rise in interest rates and will be in danger of being evicted from their homes, charities have warned.
Five million home owners unable to afford interest rate rise
Britain's trade with the rest of the world swung unexpectedly further into the red in March, according to the latest figures from the Office for National Statistics. In a shock to City economists who had expected the improvement seen in recent months to pick up speed, the deficit on goods instead lurched to 7.5bn, from 6.3bn in February.
City shocked as trade balance lurches further into the red
There were warnings tonight that the government will be forced to hit consumers with a VAT hike to 20% if it is to reduce the country's gaping budget deficit and retain the confidence of jittery financial markets.
VAT rise looms as coalition deal adds estimated 10bn to debt
Liberal Democrat-backed plans to raise capital gains tax (CGT) from 18% to 40% have sparked protests from the City, which fears it could lose out to Switzerland, the Channel Islands and the Isle of Man. The potential rise has also prompted anger from property investors and shareholders as it emerged that it will raise up to 4.1bn, equivalent to 1p on the basic rate of income tax.
Plans to raise capital gains tax anger City
David Camerons fledgling coalition Government faced its first major test in Europe last night as European regulators looked set to push through controversial new hedge fund and private equity regulations despite fierce opposition from the new administration.
Osborne faces EU defeat on hedge funds