AXA Wealth Services (AXA) was today fined £1.8m for giving poor investment advice to elderly and inexperienced customers, even though only 82 people complained. So what went wrong?

The number of funds on Hargreaves Lansdown's Wealth 150 list has fallen below 100 for the first time after the removal of two more offerings.

Sterling has risen to a seven-month high against the dollar after the UK's unemployment rate unexpectedly dipped from 7.8% to 7.7%.

Goldman Sachs, Visa and Nike are to join the Dow Jones Industrial Average (DJIA) index later this month in the largest shake-up for almost a decade.

Henderson is to change the investment policy of Matthew Beesley's International fund as well as renaming the vehicle to reflect its more concentrated investment approach.

Liontrust's Gary West has retired from fund management after 26 years in the industry, Investment Week can reveal.

Jupiter's James Clunie plans to avoid making big calls on the state of the global economy as he assumes control of the £337m Jupiter Absolute Return fund.

Invesco Perpetual has rolled out its first multi-asset fund strategy for former Standard Life Investments' (SLI) managers David Millar, Dave Jubb and Richard Batty.

Walker Crips Group has made £6.6m after crystallising convertible loan stock issued to it as part of Liontrust's 2012 acquisition of its asset management arm.

Update: Benchmark ten-year gilt yields have hit a fresh two-year high of over 3% after the Bank of England opted not to release further ‘forward guidance' earlier this afternoon.