Markets

Credit ratings agency Moody's has cut the rating of the Royal Bank of Scotland, amid fears its restructuring will 'heavily depress' profits.

Markets across Asia fell sharply overnight, with key indices shedding over 3%, as worries about the health of the Chinese economy and its ability to re-balance continued to hurt equities.

HM Revenue & Customs has withdrawn VCT approval for the Oxford Technology trust after it was found to have breached rules over the amount it held in a single firm.

Analysts suggest the Bank of England may look to an unlikely source for interest rate guidance after New Zealand today became the first developed market to raise rates since the financial crisis.

Shares in the UK's three main supermarket chains have tumbled today after Morrisons warned profits could halve this year and raised the prospect of sector-wide discounting.

F&C Asset Management has warned it faces ‘signicant headwinds in the short term' following the loss of its strategic partnerships, as it urged shareholders to approve a £700m takeover deal.

UK equity income stalwarts Clive Beagles and Francis Brooke are bucking the trend and keeping hold of their Verizon shares following the completion of the Vodafone/Verizon transaction.

ON UK INCOME

M&G has reported net outflows of £700m from its UK retail business for 2013 after slowing flows into some of its most popular funds.

T Rowe Price's emerging market debt team has cut back on its Iraq government debt position, in anticipation of renewed political turmoil in the country.