Economics

Oil major BP has agreed a deal with the US Department of Justice to pay $25m following the Prudhoe Bay oil spill in 2006.

F&C Asset Management has reported a £100m rise in AUM in Q1 following net inflows, positive market movements and an appreciation of the euro against sterling.

AXA Investment Managers is to hand its Health and Biotech funds to Mark Hargraves and Bruno Grandsard on a temporary basis.

Jupiter's chief investment officer John Chatfeild-Roberts has upped his weighting to Latin America across his £6bn Merlin multi-manager portfolios after taking profits in the region last month.

The price of gold soared yesterday to hit a new record before falling back following the death of the world's most wanted man, Osama Bin Laden.

Asian markets rallied overnight after the Federal Reserve indicated it will not hike interest rates.

The Federal Reserve last night cut its growth forecast for the US and warned inflation is higher than expected, while hinting QE2 is on track to finish in June as planned.

The dollar has plummeted to a 16-month low against the euro as markets expect the Federal Reserve to signal it will hold interest rates.

Chancellor George Osborne said he believes the UK economy is "roughly in the right place" ahead of the publication of Q1 GDP figures this morning, as economists predict growth will come in below forecasts.

Greek bond yields rose sharply again today as the country's fiscal situation was revealed to be more precarious than feared.