BP has reported a 19% fall in profits for 2012 to $17.6bn (£11.2bn), down from $21.7bn the previous year, just days after the US court approved a record $4bn fine for the Gulf of Mexico oil spill.

In its first ever federal enforcement action against a credit rating agency related to the financial crisis, the US government has filed a lawsuit against Standard & Poor's for allegedly rigging mortgage bond rates.

Renaissance Asset Managers (RAM) plans to soft-close its Sub-Saharan fund as significant inflows over the past year have taken it close to capacity.

Barclays chief executive Antony Jenkins has rejected his bonus package for 2012, saying it would be wrong for him to accept it after a year in which scandal engulfed the bank.

Germany's AAA credit rating will come under increasing scrutiny this year as investors shift their focus, according to Cosimo Marasciulo, head of government bonds and FX at Pioneer Investments.

BlackRock, the world's largest asset manager, has revealed it has taken an 8% stake in football club Manchester United.

Aberdeen Asset Management's multi-manager team is to seed specialist Asian equity house Coupland Cardiff's Japan Income & Growth fund when it launches tomorrow.

David Scammell has left his position as head of UK and European interest rate strategies at Schroders.

Neil Veitch, manager of the SVM World Equity fund, has benefited from increasing exposure to financials in the last six months, as the loosening of Basel III requirements for banks has boosted the sector.

Germany's AAA credit rating will come under increasing scrutiny this year as investors shift their focus, according to Cosimo Marasciulo, head of government bonds and FX at Pioneer Investments.