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.

Aberdeen Asset Management shares have jumped as the group reported net inflows of £3.5bn in the first two months of 2013.

Cyprus has agreed a €10bn bailout deal that will force large losses on some big deposit holders but avoids a controversial levy on all bank accounts.

Schroders has agreed a £424m cash offer for Cazenove Capital in a deal that significantly strengthens its private banking, wealth management and funds businesses.

At first glance, Schroders' confirmation that is in talks to acquire Cazenove Capital makes perfect sense.

It took a brave asset manager to launch a European equity fund in the autumn of 2011.

Nick Ring has been promoted to head of distribution at Threadneedle after Campbell Fleming took over as CEO at the group.

Jupiter CEO Edward Bonham Carter has backed the fund group to keep hold of key staff members as its post-IPO share lock-in period draws to a close.

The government has announced plans to put UK asset managers at the forefront of its mission to kickstart the economy, saying "opportunities abound" for the sector.