Economics

Santander has confirmed it is "exploring the possibility" of the sale of a stake in its asset management division.

The Co-operative Bank has appointed the former head of HSBC's North American propositions as its new chief executive.

REDWOOD

MULTI-ASSET

Close Brothers has reported positive net flows into its asset management division, with assets under management up 10% year to date.

The head of the International Monetary Fund (IMF) Christine Lagarde appeared before a French magistrate yesterday to face questioning over allegations of embezzlement and fraud.

St James's Place stock has fallen 10% in today's trading after majority shareholder Lloyds Banking Group placed 77m shares into the market.

The FTSE 100's long-running rally has been brought to a dramatic close this morning, with the index shedding 133 points in early trading as fears over an end to the US quantitative easing programme spook investors.

The Office for National Statistics' second estimate of Q1 GDP has left the reading unrevised at 0.3%, but hopes are growing of a more positive Q2 figure.

Households and businesses should be told borrowing costs will remain at rock-bottom levels until the economy is motoring again, the International Monetary Fund has said.