WHY THE IMA REVAMP WILL HURT CLIENTS

Shares in Barclays were off around 1% in early trading after it abandoned its legal challenge against PPI mis-selling and set aside £1bn to cover customer redress and administration costs.

Jupiter income manager Tony Nutt has made the Sunday Times Rich List for the first time with a fortune of £76m.

Shares in Hargreaves Lansdown rose in early trading after it gathered a record £1.16bn of net new assets during a quarter which saw it enter the FTSE 100 for the first time.

BP is facing calls from some of its biggest shareholders to sell off up to half its assets as part of a radical restructure.

Henderson's Stephen Peak complained bitterly about the £1.2m discretionary bonus paid to Gartmore CEO Jeff Meyer and demanded it be revoked.

The oil price fell by as much as $3.25 a barrel on Tuesday after the world's biggest commodity trader called the top of the market for crude and a range of other commodities.

A tsunami warning has been issued for north-eastern Japan after an earthquake with a magnitude of 7.4 struck off the east coast of Honshu.

The Chancellor has said the 50p top rate of income tax is only a "temporary" measure, though he is not yet ready to scrap it.

Europe's biggest banks must fully disclose their exposure to sovereign debts, as part of a new round of stricter stress tests.