Economics

Former Royal Bank of Scotland head Stephen Hester is to join insurer RSA as CEO with immediate effect.

The MSCI Asia ex-Japan index hit its lowest level for four months yesterday, after disappointing US construction data.

Schroders has increased its stake in Liontrust Asset Management to 23% following the boutique's latest results.

Lloyds Banking Group has said it expects to report a "small" pre-tax profit for 2013 and intends to restart dividend payments in the second half of this year.

Global equity markets are on course for their worst start to the year since 2010 following the declines sparked by troubles in emerging markets over the last week.

The S&P 500 saw its biggest gain in more than a month on Thursday, supported by technology stocks and strong GDP data.

Sterling will continue to strengthen this year as investors continue to price in an earlier-than-expected rate rise, according to currency group ECU's head of trading and execution.

Japan's Nikkei has dropped another 2.5% overnight as equity markets move further into the red following a fresh tapering announcement from the US Federal Reserve.

A series of shock rate hikes have failed to prevent a fresh sell-off in emerging market currencies, with developed market equities including the FTSE 100 also caught in the storm.

An independent Scotland would have to compromise its sovereignty if it wants to remain in a sterling-based currency union, BoE governor Mark Carney has warned.