Pharmaceuticals giant AstraZeneca said profits fell by more than a third in the first quarter after a number of patents ran out and it was hit by tough market conditions.

Adjusted profits at UK lender Barclays surged by over a fifth in the first quarter of 2012, well above expectations.

Oil giant Royal Dutch Shell has reported a rise in profits owing partly to strong demand for energy which is keeping oil prices high.

S&P Capital IQ has revealed its pick of the best funds with a decade-long track record, as it introduces a new 10-year grading system.

Apple has seen its quarterly profit almost double, rocketing past analysts' forecasts and allaying fears of limited future sales of the iPhone.

US markets gained some ground this afternoon ahead of consumer confidence and home sales data, following a sell-off in Europe yesterday.

BNY Mellon has appointed PeterPaul Pardi as global head of distribution.

The IMA is consulting its members over changes to the fixed income sectors, including limiting exposure to asset backed securities and reviewing the classification of short-term bonds as cash.

Old Mutual Asset Managers' Christine Johnson, manager of the £483m Corporate Bond fund, asks whether investors would be sensible to hold 'risk on' and 'risk off' fixed income assets in the same portfolio.

Schroders is preparing to launch a fund of funds investing in a range of the group's own Maximiser and fixed income portfolios.