Economics

The long-awaited Parliamentary Commission on Banking Standards report has criticised the government's handling of part-nationalised UK banks and recommended criminal sanctions for senior executives who behave "recklessly".

UK CPI inflation rose from 2.4% to 2.7% in May, according to the Office for National Statistics, a larger than expected rise driven by transport and clothing costs.

US markets followed shares across Europe higher overnight, while the dollar also surged, ahead of the latest Federal Reserve meeting in the States which may map out a QE exit strategy.

Fidelity's Anthony Bolton has committed to hold on to his stake in the China Special Situations investment trust after he hands it over to Dale Nicholls in April next year.

Fidelity's legendary fund manager Anthony Bolton has announced he is to retire next April, bringing to a close a 35-year career managing money at the group, but what legacy does he leave behind?

Is cash now the go-to asset? Leading investors are rediscovering its attractions as market valuations reach breaking point and inflation levels drop to historic lows.

Paul Tucker, deputy governor for financial stability at the Bank of England, is to leave later this year after more than 30 years of service.

The volatility in markets continued overnight as stocks around the globe rebounded, led by Japan where the Nikkei jumped nearly 2%.

Investors should be cutting their exposure to Asia and emerging markets and looking more to the developed world, according to F&C co-head of multi-manager Gary Potter.

Specialist fund manager Polar Capital has seen assets under management surge in the last 12 months, rising by over 40% as inflows into Japan and climbing equity markets provide a boost.