Markets

The FTSE 100 closed 1.4% down on Wednesday after new Bank of England Governor Mark Carney gave the market forward guidance, but sterling recovered after an initial drop.

Henderson Group has seen a record jump in underlying profit before tax in the first half of 2013 despite a £2bn outflow from its institutional business.

ON UK INCOME

The Bank of England has said it will not raise the base rate of interest before unemployment falls to 7%, and warned investors are still expecting rates to rise sooner than is likely.

The £836m Absolute Insight UK Equity Market Neutral fund is revamping its investment policy to switch from a UK-centric to a global investment focus.

Deutsche Asset & Wealth Management has named Jonathan Kent as head of financial intermediaries distribution for the UK and Ireland.

Legal & General (L&G) has signalled its intention to become a "major player" in delivering low cost passive investment solutions to UK retail clients as the group saw profits rise 13% in the first half of the year.

A number of UK equity income managers have begun building positions in Lloyds Banking Group as the lender prepares to return to the UK dividend register.

Credit Suisse has completed the sale of J O Hambro Investment Management to the private client business' management team and Bermuda National Limited (BNL).

Asian markets outside Japan fell again as strong growth in the US services sector stoked fears the country will soon begin tapering bond purchases.