UK Finance Minister Rishi Sunak has resigned, along with Health Secretary Sajid Javid, as Prime Minister Boris Johnson found himself engulfed in yet another scandal over the behaviour of Conservative MPs.
All eyes on Wednesday will be on the minutes of the US central bank's last policy meeting and any information that can be gleaned from them regarding the outlook for monetary policy.
Oil&Gas and Industrial Metals plummeted on Tuesday amid a downdraft on the wider FTSE 350, despite a large move lower in sterling.
European shares reeled on Wednesday, surrendering early gains as global recession worries supplanted the positive mood among investors early on thanks to reports that the US could ease tariffs on China.
London stocks tumbled on Tuesday as worries about inflation and a global slowdown returned to rattle investors.
London’s FTSE 250 was down 1. 4% at 18,337. 16 in afternoon trade on Tuesday.
British Airways is to cancel a further 1,500 flights this summer as it battles the ongoing travel chaos plaguing the aviation sector.
Analysts at Deutsche Bank resumed coverage on gambling giant 888 Holdings at 'buy' on Tuesday, branding it as the "king of the hill".
London’s FTSE 100 was down 2. 5% at 7,053. 33 in afternoon trade on Tuesday.
Wall Street stocks were firmly in the red early on Tuesday as the US dollar rallied against the Euro and recession fears returned to the forefront of investors' minds.
Royal Mail managers are to start industrial action later this month in a row over jobs and pay, it was confirmed on Tuesday.
Nanosynth revealed on Tuesday that chief executive Mark Duffin had acquired 4. 16m ordinary shares in the AIM-listed technology group.
The European single currency may remain weak in the near-term due to concerns about soaring energy prices in Europe.
European natural gas prices were on the rise again after workers at Norway's Equinor initiated a strike action overnight.
Scandinavian carrier SAS has filed for bankruptcy protection in the US after a pilots strike grounded its planes.
Equity strategists at Berenberg recommended investors stick with a stagflation hedge strategy.
Liberum upgraded Moneysupermarket on Tuesday as it took a look at online platforms.
Companies offering cryptoasset-related services happily welcomed the news that the three institutional bodies of the European Union (EU), the European Parliament, Commission and Council reached an agreement on the text of the proposed cryptocurrency market regulation. The landmark cryptoasset markets legislation (MiCA) will introduce licensing of cryptocurrency companies and safeguards for their customers and the industry has been favorable to the measure which, however, contains controversial points for users such as the taxation of self-hosted wallets.
European shares turned lower mid-morning, surrendering early gains after a positive session in Asia overnight amid suggestions that the US could ease tariffs on China.
The euro fell to a 20-year low against the dollar on Tuesday as investors scaled back expectations for more aggressive tightening by the European Central Bank.