Industry

The FSA is fighting a proposal by Lloyds Banking Group to pay its first dividend since the government acquired a 43% stake in 2008, according to reports.

Joe Faraday and Tom Record have stepped down from their roles as co-managers on two Baillie Gifford Asian funds.

Skandia head of digital marketing, Jeremy Mugridge, has left the business to join a product design agency.

Apple's glory days are numbered and it will be impossible for the technology giant to sustain its meteoric pace of growth, according to Ben Rogoff, manager of the £412m Polar Capital Technology trust.

European markets were well into positive territory in afternoon trading, lifted by Spanish bailout talk, while in the US, Apple's latest iPhone sent its shares up to a new peak.

Facebook founder Mark Zuckerberg has said he will not sell any of his shares in the company for at least a year in a move to boost investor confidence, after shares in the social networking giant sank to a new low.

Peter Hargreaves and Stephen Lansdown, the founders of Hargreaves Lansdown, are in line for dividend payouts of around £40m when the broker reveals its results this week, according to reports.

Standard Life has overhauled its UK operation following a senior management review and launched a dedicated adviser and investment unit.

Apple has overtaken Microsoft as the most valuable company of all time after its share price surged yesterday, pushing the value of the company to $623bn.

Shares in social networking giant Facebook have hit a new low, falling another 6% after the first lock-in period ended and its largest investors were able to sell the stock.