Economics

Aberdeen Asset Management today said outflows from its business had slowed significantly following a sustained period of redemptions, with the group also seeing better than expected flows from recent acquisition SWIP.

Deflation defeated

UK markets opened lower Friday after a tough session in the US where stocks suffered sharp losses on the expectation of an imminent rate hike by the Federal Reserve.

Lloyds Banking Group is to sell another 11.5% stake in its TSB business, leaving it with a 50% holding in what promises to become a challenger to the UK's existing retail banking industry.

Shares in D2C giant Hargreaves Lansdown fell today after analysts at RBC Capital Markets downgraded the stock on fears its share price will continue to struggle in the face of increasing competition.

Tesco has confirmed former CFO Laurie McIlwee has not been working the final six months of his contract, encompassing most of the period currently under investigation by the firm following its profits overstatement.

RBS chairman Sir Philip Hampton is to leave the bank in order to take up an identical position at GlaxoSmithKline, according to reports.

UK shares edged lower this morning as concerns over the economic recovery in the US, and yesterday's move by the country to curb tax avoidance via M&A deals, continue to weigh on investor sentiment.

UK public borrowing rose more than expected in August, figures released by the government today have revealed.

UK sugar manufacturer Tate & Lyle saw its shares fall by nearly 20% at one stage this morning after it warned profits will sharply undershoot estimates.