PERFORMANCE

The UK's public finances face a funding shortfall of £114bn despite moves by the government to curtail spending, a leading economic thinktank has warned.

Four men inspired by al-Qaeda have admitted planning to detonate a bomb at the London Stock Exchange, according to the BBC.

Alistair Darling, former Chancellor of the Exchequer, has criticised the move to single out ex-Royal Bank of Scotland (RBS) chief Fred Goodwin by stripping him of his knighthood.

Legal & General Investments has cut the AMCs on five of its index tracker funds and TERs across 13 products in the range.

Gary Shaughnessy, Fidelity's UK managing director, said a new fund charging method called total cost of ownership (TCO) should replace existing fund charges including TERs.

F&C Asset Management has told investors it expects to take a £2.3bn hit to its assets under management this year when Friends Life withdraws money from its annuities business.

Aviva Investors' London-based equity fund managers are at risk after the group said it is planning to cut 12% of its workforce globally in its latest shake-up.

The alleged rogue trader at the heart of a multi-billion pound fraud investigation has pleaded not guilty to two charges of false accounting and two of fraud.

Brett Williams, the former head of platforms Cofunds and Skandia, has launched a private equity firm with targets including financial services groups.