Shares of Sodexo, the world's second largest caterer, fell Tuesday after the company warned 2010 will be difficult and clients are delaying signing new contracts. Michel Landel, CEO of Sodexo, spoke to CNBC about the outlook.

"We do need more competition in the banking sector," Lord Norman Lamont, former Chancellor of the Exchequer, told CNBC Tuesday. "I know we haven't got it right yet," he said.

The UK's trade deficit widened to an eight-month high in September as the number of imported cars rose sharply. Neil MacKinnon from VTB Capital spoke to CNBC about the outlook for the UK and sterling.