M&G has hired Matthew Cable as deputy manager on its £370m Smaller Companies fund following a tough spell which has seen it drop down the rankings.

Banking shares dragged the UK's leading index lower in morning trading following results from Lloyds Banking Group which revealed a £570m loss for 2012.

Skandia, one of the UK's largest platforms, has reported a £2m profit in 2012 following a surge in funds under management.

Shares in Edward Bonham-Carter's Jupiter Fund Management raced back towards record highs today after a bumper set of results showing growth in profits of around 5%.

Outsourcing giant Capita has made no further provision for Arch cru liabilities in its latest set of results.

The UK economy never experienced a 'double-dip' recession, if offshore oil figures are stripped out of the data, said Henderson Global Investors' economist Simon Ward.

Jupiter has been tipped as a likely winner in the asset manager space as the gap between those who receive advice and those who do not widens and pushes more consumers to self-invest.

Skandia has announced the full list of funds which will make up its Select range, following months of negotiations with fund groups.

The board of the New Star investment trust - now run by John Duffield's Brompton Asset Management - has predicted a pull-back in markets following the recent run higher.

Cofunds, the UK's largest platform, has backtracked on its unpopular policy on re-registration after an outcry from peers and advisers.