The US Federal Reserve heralded the beginning of the end for its third round of quantitative easing as Ben Bernanke said it could slow the $85bn-a-month pace of asset purchases �in the next few meetings� if the labour market is strong.

Nationwide has increased its share of the British mortgage market to a record level, helped by government-funded programmes to support housebuyers, such as the Bank of England's Funding for Lending Scheme.

Cable & Wireless Communications, the telecoms group that traces its history back to the early days of the British empire, is to leave the UK after more than 140 years and move its headquarters across the Atlantic.

An energy company has told customers they will have to find another �80 a year for energy - despite a surge in their profits of nearly 28%.

The pound slammed into reverse on Wednesday as a sharp fall in high street sales dented hopes Britain is on the road to a steady recovery.