Markets

The Financial Conduct Authority (FCA) has fined Aberdeen £7.2m for failing to protect client money in relation to money market deposits.

BIG QUESTION

WEALTH MANAGERS

CONTRARIAN

Markets pause for the summer.

It has almost gone unnoticed, but Chinese indices have begun to outperform amid a difficult August for equity investors.

Canada Life Investments has hired Nigel Kennett from Nomura International as senior fund manager on the UK equities desk.

The FTSE 100 has rallied strongly on positive manufacturing data from China, as well as the prospect of Vodafone's deal to sell its holding in Verizon Wireless.

Kames Capital has reshuffled its high yield investment team, after hiring Stephen Baines from Oriel Asset Management as fixed income manager.

Positive data pointing to the increasing pace of the UK economy is putting the Bank of England (BoE) under greater pressure to rein in market expectations of an interest rate rise.