Markets

UK shares had a shaky start to the week as negotiations over the US debt ceiling continue to drag on.

WEALTH MANAGEMENT

The Treasury has applied for European Union (EU) approval to split up Royal Bank of Scotland (RBS), to smooth the process of carving up the state-owned lender.

The US government shutdown combined with growing concern over the country's debt ceiling have led to renewed fears US equity markets could sell off heavily if the impasse continues.

Allfunds Bank has poached another Cofunds director, Bradley Lewis, to spearhead its expansion into the UK market.

The number of offers of redress from banks to customers who took out interest rate hedging products is set to increase "rapidly" over the coming months, the Financial Conduct Authority (FCA) has said.

Christine Lagarde, managing director of the International Monetary Fund (IMF), has warned failure to raise the debt ceiling could be far worse than the current US government shutdown.

Barclays will sell £300m of leftover stock on the open market today after almost 95% of shareholders took the opportunity to buy up discounted shares during its rights issue.

A simple typographical error boosted Spain's 2014 public debt forecast by €10bn (£8.4bn), the government has admitted.

Former New Star marketing director Richard Wilson is to join Jupiter as head of marketing next month.