City Financial has acquired OPM Fund Management for an undisclosed amount, taking over its £75.2m fund range in the process.

Regulators have levied fines worth more than £1bn on UK companies and managers for fraudulent activity since 2007, with financial services firms alone charged £560m.

Jupiter chief executive Edward Bonham Carter has criticised EU proposals to cap fund manager bonuses, saying the moves could jeopardise industry stability.

Senior staff at J O Hambro Investment Management are to buy out the business from owner Credit Suisse with the help of banking group Bermuda National.

Cyprus has implemented a series of stringent capital controls as it seeks to prevent assets fleeing the country when its banks reopen today.

Analysts have raised concerns about the government's debt plans for 2013-14 after the Budget revealed a sharp rise in the amount of short-dated debt due to be issued.

Jupiter's Gregory Herbert has been promoted to manage the group's European Income fund, taking over from Cédric de Fonclare.

Threadneedle's Simon Brazier and Artemis' Tim Steer have been buying up shares in Daily Mail & General Trust as they back the business' under-recognised strengths to flourish.

The S&P 500 is on the verge of passing its all-time closing high after rising as much as 0.5% in early trading.

The Financial Services Authority has finalised new rules and regulations for financial benchmarks as it attempts to "bring integrity" back to the London Interbank Offered Rate.