More than £1 billion of new pensioner bonds have been sold in two days, making them the "fastest-selling retail financial product in British history", according to Chancellor George Osborne.

Companies profiting from falling oil prices should pass on the benefits by increasing workers' wages, Prime Minister David Cameron suggests.

Labour leader Ed Miliband says people will be "choking on their cornflakes" at the PM's call for firms benefitting from cheaper oil to give pay rises.