Spot price of gold is approaching $3,000/ounce while Lloyds profits are hit by new £700m provision in motor finance scandal

• Lloyds puts aside a further £700m for compensation over car finance scandal

In another worrying economic signal, a third of UK small businesses are planning to axe jobs amid worries over soaring staff costs.

A poll of nearly 1,400 firms by the Federation of Small Businesses (FSB) in the final quarter of last year revealed that 33% expect to reduce their workforces, up from 17% in the previous three months.