Up to 75% of small and medium businesses say they will not be handing out pay rises this year, according to a survey by office supply company Office Depot.

Wall Street managed a moderate gain today in a volatile session that saw investors alternating between worries about interest rates and delight in a new wave of merger deals.

US stocks finished a lacklustre session slightly higher today as many investors opted to keep to the sidelines after a disappointing report on retail sales and another increase in oil prices.

Relatively solid retail sales figures inspired another rally on Wall Street today as investors grew more confident about an impending economic recovery.