The UK is at risk of losing its place in the top 10 world economies over the next 5 years.

The board of the Royal Bank of Scotland (RBS) have threatened to quit after hearing Government plans to cap their bonus payments. Chancellor Alistair Darling is to be granted the right to veto bonus payments at the bank, following which the bank sought legal advice.

Recent surveys have reported that only 15% of the UK population have put aside money to pay for Christmas. With reduced levels of spending and less credit cards in circulation, it could be a lean holiday period for retailers.