Industry

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.

The Financial Services Authority (FSA) has launched a crackdown on ACDs operating in the UK in the wake of the Arch cru scandal, as one major player confirms it is pulling back from the market.

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A sole trader independent financial adviser has been banned by the Financial Services Authority (FSA) and fined £10,500 for lacking competence and failing to treat his customers fairly.

BlackRock's Richard Plackett is to be joined by Roland Arnold as a co-manager on the £1.4bn UK Special Situations fund.

BlackRock has launched the Luxembourg-domiciled BSF Global Absolute Return Bond fund for Ian Winship.

Bestinvest's list of 'dog funds' highlights funds that have underperformed their benchmark by 10% or more cumulatively over the last three years.

There has been a 187% increase in the amount of money sitting in underperforming dog funds this year to £26.5bn, Bestinvest's latest "Spot the dog" list has revealed.

BlackRock's Andrew Williamson-Jones, manager of the £162m global equity fund, is to leave after nine years at the company.

Last month's Rio Earth Summit, written off as a disappointment by most, still produced encouraging signs for socially responsible investors, according to Jupiter's Charlie Thomas.