Aggressive selling of sterling following last week's guidance on rates from the Bank of England has taken the pound to its lowest level in three years versus the dollar in trading today.

The Financial Conduct Authority (FCA) is going in the right direction to becoming a "genuinely different" regulator and will put greater emphasis on competition, its chief executive Martin Wheatley has said.

A row between M&G's Tom Dobell and the board of an AIM-listed oil group has intensified after the manager called for new directors to be appointed and labelled the current pay deals for bosses 'excessive'.

Premier Asset Management's Simon King has left the business, amid a re-shuffle at the business which has seen colleague Chris White become head of UK equities.

Chinese shares have started the week sharply in the red, with markets off substantially amid ongoing fears about the impact of the US cutting back its stimulus programme.

The Chancellor George Osborne is to back proposals for harsher punishments for bankers who act recklessly and lead to the collapse of financial institutions.

The pound has fallen further against the dollar in early trading, deepening a slump that began yesterday after the Bank of England reassured investors about the future path of the base rate.

Liontrust today reported inflows had more than trebled in the last quarter to over £300m as demand for its funds helped lift AUM despite the pullback in markets at the end of May.

Legal & General Investments has axed Robert Churchlow, the group's head of UK equities, from his two UK mandates, with the manager's future now uncertain after the company declined to comment on whether he still worked for the firm.

Portugal's financial crisis worsened today as the country's bond yields spiked above 8% and shares plunged, following the resignation of several key politicians.