A warning from Standard & Poor's (S&P) that the agency might lower its rating on US government debt sent American stocks on their steepest slide in a month last night.

The UK's gold-plated triple A credit rating is not at immediate risk as the British government steps up its drive to rebuild the shattered public finances, a leading agency said today.

Credit rating agency Moody's is reviewing Ireland's AAA rating in a move that could increase the cost of borrowing on international credit markets.

Wall Street today bounced back from its sharp decline a day earlier, boosted by takeover activity ahead of second-quarter earnings reports.