The number of fund managers backing a strengthening in the US dollar hit a record high in March, as optimism over the US recovery also gathered pace.

UK CPI inflation rose from 2.7% to 2.8% in February as rising energy prices pushed the reading to its highest level since May of last year.

Cypriot officials are attempting to renegotiate the terms of its €10bn bailout to limit the pain for small account holders, according to reports.

Royal London has agreed to buy the Co-operative Banking Group's life insurance and asset management businesses in a deal worth up to £219m.

EU proposals to limit fund manager bonuses have been met by a withering reaction from the asset management industry.

Retail investors should be able to access less liquid investment strategies so they can benefit from longer-term investment decisions, according to new RWC Partners CEO Dan Mannix.

The Financial Services Authority (FSA) has contacted UK fund groups in a bid to ensure "minimal disruption" when the Alternative Investment Fund Managers Directive (AIFMD) comes into force in July.

Jupiter CEO Edward Bonham Carter has sold 750,000 shares in the group, bringing his shareholding down below 3%.

Investec Asset Management CEO Hendrik du Toit, managing director of UK distribution David Aird and other senior employees are to acquire a 15% stake in the business for £180m.

Shares in Home Retail Group and Ocado - two of the most shorted stocks in the UK equity market - have leapt this morning after a pair of well-received announcements.