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The cost of insuring against a catastrophic US default jumped to its  highest level in more than two years today after talks to prevent a breach of the nation’s $16.7 trillion (£10.5 trillion) debt ceiling faltered.

Lagarde gets Indonesia backing for her IMF bid

Indonesia yesterday became the first major emerging market to back Christine Lagarde's push to be the head of the International Monetary Fund.

Margareta Pagano: Get Sugar off TV and Dyson into our classrooms

It's fantastic news that BMW is investing another £500m to build the next generation of Minis, a move that will protect 5,000 jobs for many years.

Lagarde still favourite as IMF nominations close

The French finance minister has wide support but could face a formal inquiry into claims that she abused her authority

Lagarde takes IMF campaign to emerging economies

The French Finance Minister Christine Lagarde dashed to India yesterday as she sought to secure the backing of the Asian country for her candidacy to head the International Monetary Fund (IMF).

David Prosser: Carstens is running out of time for IMF bid

Outlook Agustin Carstens, the governor of the central bank of Mexico, had better get a move-on if he wants to still be in the running for the job of running the International Monetary Fund when the nominations close on Friday. While Mr Carstens spent yesterday belly-aching about Europe's refusal to countenance a non-European heading the IMF for the first time in its history, the Europeans' candidate, Christine Lagarde, was busy chatting up voters in the developing world.

IMF backs Osborne's strategy – but warns tax cuts may be needed

The International Monetary Fund yesterday delivered a powerful endorsement of the Chancellor's strategy to reduce government borrowing – but warned that ministers may need to cut taxes and the Bank of England will have to inject more money into he economy if "major risks materialise". This is the nearest that any international body has come to suggesting a "Plan B" may be needed. The level of unemployment in Britain is, the IMF added, "unacceptable", and it also pointed to inflation and the fragility of the banks as "significant risks".

David Prosser: And the solution to our economic woes is... there is no solution

Outlook: When more than half the economy depends on two drivers, it's difficult to see how there can be growth if those two drivers are weakening

G8 backs Lagarde bid to head IMF

The leaders of the G8 are backing French Finance Minister Christine Lagarde in her bid to run the IMF, according to her cabinet colleague Alain Juppé.

France seeks swift succession to end protests over IMF post

Emerging economies object to 'carve-up' but do not have a strong candidate to replace Strauss-Kahn

David Prosser: Lagarde is wrong: her nationality is both handicap and advantage

Outlook Her nationality is neither "a handicap nor an advantage", claimed Christine Lagarde as she launched her candidacy for the role of managing director of the International Monetary Fund yesterday. The French Finance minister has many excellent qualities but in this analysis, she is surely mistaken on both counts.

Christine Lagarde declares she wants IMF job

French Finance Minister Christine Lagarde has announced she will seek the top job at the International Monetary Fund.

PM 'small-minded' over Brown's bid for IMF job

David Cameron and George Osborne have been branded "petty and small-minded" for rejecting Gordon Brown's bid to become head of the International Monetary Fund.

Steve Richards: Brown's bid to run the IMF deserves a fair hearing

There is evidence that Brown's fiscal stimulus propelled Britain and other countries towards growth

French minister set to fight off emerging nation bid for IMF job

European nations appeared to be closing ranks behind the French Finance Minister, Christine Lagarde, to run the International Monetary Fund, trying to nip in the bud a campaign to appoint an emerging-market candidate for the first time in the organisation's 65-year history.

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