Bond giant Pimco saw its investors withdraw a record $23.5bn (£14.5bn) in funds after manager Bill Gross abruptly left the company last month.

Young people lack workplace skills such as communication and team working, a study among employers suggests.

Japan's stock markets were rattled after a trading error caused more than $600bn (£370bn) worth of orders to be made and then cancelled.

Virgin Money, the UK challenger bank partly owned by entrepreneur Sir Richard Branson, announces plans to list its shares on the London Stock Exchange.

Payday lender Wonga says it is writing off £220m of debts for 330,000 customers after putting in place new affordability checks.

The Bank of England accepts new powers to prevent a housing boom and bust, as suggested by the Chancellor, George Osborne

UK shares continued their recent slide, with investors expected to remain cautious ahead of the latest European Central Bank meeting.

The European Central Bank says it will start its asset buying programme later this month as it keeps its benchmark interest rate at 0.05%.