The US economy is facing slow growth and higher prices according to the Federal Reserve.

The UK's inflation rate jumped to 4.4% in July, up from 3.8% in June and more than twice the government's target of 2%.

The Latvian capital Riga is the latest place to consider cracking down on groups of British revellers, but how did the institution of the stag night get so out of hand?

There are fears that the UK economy may be going into stagflation, a combination of recession and inflation.

The Shadow Chancellor Francis Maude says the government's handling of the economy could recreate the conditions of a stagnant economy combined with high inflation.