Mervyn King, the outgoing governor of the Bank of England, has warned central banks risk becoming more politicized as a result of their efforts to tackle the banking crisis and subsequent recessions.

George Osborne's austerity plan came under attack today from the International Monetary Fund (IMF) after it downgraded the outlook for UK growth by more than any other advanced economy.

UK stock markets and their European counterparts continued to sell-off today as ongoing worries about global growth and a sharp fall in the US overnight weighed on sentiment.

The Banking Standards Commission has asked the Financial Services Authority (FSA) to consider if three former HBOS bankers should be barred from future roles in the financial sector.

Standard Life's wrap platform is to scrap rebates on new and existing business and move to a clean share class only model by the start of the 2014/15 tax year, Investment Week can reveal.

The Tax Incentivised Savings Association (Tisa) is to launch a consultation later this month to look into how to convert bundled share classes held on one platform into clean share classes on another platform when a client re-registers.

Transact has moved to tackle difficulties accounting for the incoming rebate tax with the creation of a new automated system to calculate it.

Martin Currie's Asian equity manager Jason McCay is to exit the group imminently, Investment Week understands.

Liontrust has scrapped rebates on its successful UK Smaller Companies fund, run by managers Anthony Cross and Julian Fosh, as it moves to premium price the product.

Platform giant Skandia has opened talks with fund groups on its Select list asking them to supply new preferentially-priced 'super clean' share classes as soon as possible as it responds to the recent tax change announced by Her Majesty's Revenue & Customs...