Markets

The Chancellor George Osborne said the "great recession" seen after the global financial crisis in 2008 had an even more detrimental impact on the UK economy than previously forecast.

The Chancellor has cut the UK's borrowing levels substantially in the Autumn Statement, substantially revising down March's forecast.

The UK's surprise economic recovery looks on course to continue as Chancellor George Osborne raised his forecast for UK growth over the next few years.

Aberdeen chief executive Martin Gilbert has netted £8.6m from the sale of 1.78m shares in the firm, according to a regulatory filing.

UBS Global Asset Management CEO John Fraser is to retire from the group, having headed the asset management business since 2001.

The IMA UK Equity Income sector saw net retail outflows of £298m in October, according to data released by the IMA today, making it the worst selling sector on the month.

Standard Chartered saw its stock price plummet 7% during trading today after warning of its first fall in operating profits for a decade.

ON UK INCOME

Sonja Laud, manager of the Schroders Global Equity Income fund, is to leave the group by the end of the year.

Polar Capital has more than doubled its assets under management year-on-year, driven primarily by inflows into its Japanese products.