Prime minister David Cameron has caused the EU to fracture after refusing to sign up to a new treaty over concerns about financial services regulation.

Chancellor George Osborne has announced the 2012 Budget will be held on Wednesday 21 March.

Leading fund managers, including L&G and Jupiter, have stepped up their attack against huge pay rises at the UK's biggest banks.

Back in May, I wrote a comment piece on why the IMA's original plans for its multi-asset Managed sectors posed a risk to advisers and their clients.

Lloyds Banking Group has offered to exchange £4.9bn of its outstanding bonds in order to raise new capital.

IMA SECTORS

Eurozone finance ministers agreed to allow the EFSF to fund partial protection on government bonds, but plans to extend overall funding to the €1trn target were dealt a blow last night.

Around 42% of hedge fund managers see the potential for a default or restructure by Italy and Spain, according to a survey.

Chancellor George Osborne is expected to claim today he has saved the taxpayer £21.5bn in debt interest payments.

The chairman of Charter International has launched an attack on Schroders' Richard Buxton, accusing him of "destroying more than he achieved" by being vocal about the engineering company's sale.