Developed economies face a minimum of two further recessions before a recovery pushes equities into bull market territory, according to SocGen's Albert Edwards.

Walker Crips managers Jan Luthman and Steve Bailey have increased their exposure to companies operating in emerging markets in anticipation of further falls in sterling.

Perma-bear Albert Edwards has called for UK corporation tax to be raised so the surpluses companies are sitting on can be used to boost the global economy, branding plans for tax cuts "stupid".

The decline in the UK economy was confirmed this morning after the second estimate for Q4 UK GDP came in unchanged at 0.2%.

The European Commission has warned the eurozone will be back in recession this year despite "signs of stabilisation" on the continent.

Ignis' chief economist Stuart Thomson has hailed Mervyn King as the "central banker of the year" for supporting the UK economy and protecting its safe haven status over the past 12 months.

The owner of Glasgow Rangers FC has admitted he used the payment for future season ticket sales from Ticketus, the company backed by Octopus Investments' Protected EIS, to complete the takeover of the club.

US and Asian markets gave a modestly positive response to the second Greek bailout, following losses in European counterparts, as it emerged the debt-laden nation has just nine days to implement many of the conditions of the rescue.

Invesco Perpetual is bringing a range of multi-asset, risk-rated funds to the UK run by its Atlanta-based global asset allocation team headed by CIO Scott Wolle.

Octopus Investments has said it is working with the administrators of Glasgow Rangers after one of its investments was caught up in the debacle.