Economics

Shares in the US raced near to highs last seen in 2011, while UK indices reached new highs for 2012, as investors welcomed further talks between Germany and Greece.

The German finance minister, Wolfgang Schäuble, is pushing to let Athens default, creating a split in the German government, according to reports.

Aegon UK made a loss before tax of £22m in the fourth quarter of 2011, dragged down by further redress payments following administrative problems at Scottish Equitable and a slump in life and pensions sales.

Anthony Bolton's Fidelity China Special Situations investment trust lagged its benchmark in the final quarter of 2011.

It is far more likely the UK will retain its prized triple-A status than be downgraded, according to bookies.

US shares closed on Thursday at their highest since the 2008 financial crisis, after good news on unemployment figures boosted sentiment.

The Financial Services Authority (FSA) has fined a former managing director at Merrill Lynch International for disclosing inside information about Punch Taverns prior to its 2009 rights issue.

Ratings agency Moody's has warned it may cut the credit ratings of 17 global banks and 114 European financial institutions as strains on the financial system increase.

Axa Wealth has seen assets under management climb to almost £19bn in 2011 despite the turbulent market.

First State Investments has created a brand to differentiate its emerging markets arm, run by Angus Tulloch and Stuart Paul.