Embattled oil major BP has seen its share price dive below 300p, hitting a 14-year low, as the escalating cost of the Gulf of Mexico oil spill hit $2.3bn (£1.57bn).

Cautious Managed was the top-selling sector for ISA investors using FundsNetwork in May, reflecting ongoing market uncertainty.

Buyout vehicle Resolution has bought Axa Life for 2.75bn in a deal part-funded by a rights issue of approximately £2.05bn.

The income tax threshold will increase by by £1,000 in April, the Chancellor said today in his emergency Budget.

Chancellor George Osborne has raised VAT from 17.5% to 20% in his emergency Budget today.

George Osborne has given British business a boost by introducing four annual reductions in the rate of corporation tax.

The consumer price index (CPI) of inflation eased in May to 3.4%, down from 3.7% in April, according to the Office for National Statistics (ONS).

George Osborne will today set out plans for the biggest shakeup of economic regulation since 1997.

The consumer price index (CPI) of inflation eased in May to 3.4%, down from 3.7% in April, according to the Office for National Statistics (ONS).

BP shares continued to fall both sides of the Atlantic on Monday after the oil giant said the cost of the Gulf of Mexico spill had risen to £1bn and US President Barack Obama compared the environmental disaster to the 9/11 terrorist attacks.