There is a “long, hard road ahead” for the British economy, the UK's Deputy Prime Minister Nick Clegg will admit today as he closes the Liberal Democrat conference.

THE owners of the now-defunct News of the World will pay about €3.5 million (£3m) to the family of the murdered girl at the centre of the phone-hacking scandal, reports said yesterday.

BRITISH business secretary Vince Cable said UBS’s $2.3 billion (€1.68bn) unauthorised trading loss underlines the case for John Vickers’s plan to force banks to insulate their consumer units from their investment banking operations.

Relatives of murdered British schoolgirl Milly Dowler are in settlement talks with News International.