Skandia Investment Solutions, one of the UK's largest platforms, made a loss of £11m in 2011 as the cost of preparing for RDR impacted the business.

Fidelity has expanded Trevor Greetham's Multi Asset range of funds with the launch of a higher risk adventurous fund.

Invesco Perpetual has appointed David Millar, Dave Jubb and Richard Batty to form a new multi-asset group as part of a drive to expand its business.

The euro hit a four-month high today against the US dollar after German lawmakers said the country can now approve Europe's rescue fund.

Greece is understood to have created a working group to assess how much Germany owes it in war reparations, in an astonishing twist to the eurozone crisis.

Shares in luxury brand retailer Burberry today dropped nearly 20% after it announced profits will be at the lower end of forecasts this year.

Barclays' new boss Antony Jenkins has vowed not to break up the bank by axing its investment banking operation.

Shares across the globe fell overnight as renewed fears about Germany's likelihood of approving rescue plans plagued investors once again.

The Investment Management Association (IMA) has urged the Financial Services Authority to keep LIBOR in place but has called for the lending rate to be reformed.

Despite a rally in global markets over the last three years as investors returned following the '08 sell-off, a number of funds have failed to keep up with peers.