Markets

Neil Woodford has said he plans to create a major asset management business, rather than a simple boutique, as he begins life at Woodford Investment Management.

Aberdeen Asset Management completed the acquisition of Scottish Widows Investment Partnership (SWIP) last night, paying £550m for the business.

Pfizer, the US pharmaceuticals giant which today raised its offer for UK rival AstraZeneca, has written to Prime Minister David Cameron in an attempt to appease fears over the impact of any takeover.

Invesco CEO Martin Flanagan has played down analyst concerns over further UK equity income outflows as former employee Neil Woodford prepares to launch his own fund.

Sterling has risen above $1.69 against the US dollar during trading, nearing its highest level for five years following the release of strong manufacturing data for April.

A trio of fund managers at Invesco Perpetual are exiting the firm to join Neil Woodford's new venture.

Phoenix Group Holdings is awaiting a boost from the Ignis deal, set to complete in Q2, as it sees a drop in cash generation in Q1 compared to last year.

Lloyds Banking Group has reported a 22% rise in underlying profit to £1.8bn in the first quarter of the year.

The US economy has posted disappointing growth figures in the first quarter of the year, slowing sharply to just 0.1% after adverse weather conditions impacted the world's largest economy.

Mark Wignall from Mobeus Equity Partners, Andrew Garside from Baronsmead and Tim Levett from NVM Private Equity discuss the latest VCT trends with Alice Murray.