CBI

Investment managers' optimism about their business prospects rose for the third consecutive quarter, despite difficult conditions for the financial services sector, according to the latest survey from the CBI/PwC.

The Confederation of British Industry and British Chambers of Commerce have each cut their 2012 UK GDP forecasts and called for the government to do more to prompt growth.

The UK will come out of recession in the second half of the year, bouncing back from negative growth in the first two quarters.

REGULATION

The investment management sector's low reported levels of compliance spending are "hard to believe", according to a quarterly survey from the CBI and PwC.

Britain will avoid a double dip recession and modest growth should restart later this year, according to the CBI.

The president of the Confederation of British Industry (CBI), Sir Roger Carr, has called for an end to the "demonisation" of banks, energy companies and the defence industry.

The government's plans to ringfence UK banks' retail businesses are 'barking mad' and could threaten the fragile economic recovery, the chief of a leading British business association has said.

The UK economy will only grow at a "sluggish" rate this year, according to the CBI.

Portugal has moved a step closer to implementing a €78bn bailout programme after the country's Social Democrats (PSD) won a conclusive victory in the general election yesterday.