The US economy expanded at a much greater rate than expected, according to latest figures released this afternoon, helping push benchmark US treasury yields back up to 2.82%.

Skandia UK sales director Steve Powell is to retire at the end of the year after 23 years with the group.

UK net retail fund sales reached their highest level in over two years in July as investors shrugged off June's market volatility.

Shares in Vodafone have risen 9% to their highest level since late 2001 after the group re-opened talks with US peer Verizon over the sale of their joint venture.

Mark Carney has moved to defend the Bank of England's 'forward guidance' policies and said further stimulus may be necessary keep the UK economic recovery on course.

Alan Gadd has joined Artemis as head of product and distribution development as the group further expands its distribution capabilities.

Fund managers investing in Hargreaves Lansdown are torn on whether to add to positions as the company readies the next phase of its RDR-friendly business model.

AXA Framlington's Mark Hargraves is to take over management of the group's Global Opportunities fund as Mark Tinker becomes Asia business head.

The UK economy grew by 0.7% in the second quarter of 2013, a higher than previously estimated figure, according to latest figures from the Office for National Statistics.

BOND SELL-OFF