Markets

Royal Bank of Scotland is facing an £8bn loss for 2013 after announcing an additional £3.1bn of provisions for litigation and mis-selling costs.

Canada's Bank of Montreal (BMO) has agreed a deal to buy F&C for £708m in cash.

Invesco Perpetual's Mark Barnett is to become manager of the £1bn Edinburgh investment trust as of today, taking over from Neil Woodford ahead of the latter's forthcoming move to Oakley Capital.

ON UK INCOME

F&C shares have jumped by more than 20% after the group said it has received a takeover approach from Canada's Bank of Montreal (BMO).

As revealed by Investment Week last Friday, Zurich is launching Zurich Horizon Investment Solutions, a new investment proposition comprising a range of risk profiled funds managed by Threadneedle Investments.

M&G's Mike Riddell has questioned the sharp rise of China's investment to GDP ratio, comparing the figure with former bubble countries including Iceland and Asian countries during the 1997 crisis.

Fresh plunges in the value of emerging market currencies have send equities sharply lower this morning, with an analyst downgrade adding to the pain for EM-focused Aberdeen.

ON ASIA PACIFIC EX JAPAN

The Governor of the Bank of England has indicated his policy of linking interest rates to unemployment could be scrapped less than six months after its creation.