Markets

Fund management staff earning more than €1m at UK banks saw pay almost double in 2012, according to European Banking Authority (EBA) data.

Rathbone Brothers chief executive Andy Pomfret is to retire on 28 February 2014 after almost a decade in charge of the wealth manager.

Chancellor George Osborne is to highlight a forthcoming sale of Lloyds Banking Group shares to retail investors in the Autumn Statement, according to reports.

Equity funds in most regions may have enjoyed strong capital growth so far in 2013, but the ongoing hunt for yield means equity income strategies are still sharing the limelight.

Howard Archer, chief UK and European economist at IHS Global Insight, has tipped Chancellor George Osborne to up the UK's GDP growth outlook and reveal a reduction in the deficit next week.

Whitechurch Securities has swapped Neil Woodford's High Income fund for Mark Barnett's UK Strategic Income offering ahead of the former's departure from Invesco Perpetual.

Yields on ten-year US treasuries could climb as high as 5% as the Federal Reserve brings its quantitative easing programme to an end, according to Old Mutual Global Investors' Stewart Cowley.

The European Central Bank has warned QE tapering by the Federal Reserve may cause a significant market shock for the eurozone.

Royal Bank of Scotland's new chief executive, Ross McEwan, has denied claims the bank 'systematically' ran small businesses into the ground, and said the allegations have damaged RBS' reputation.

Sterling rose against the US dollar in morning trading after the second reading of the UK's economic growth rate confirmed an increase of 0.8% in the third quarter, in line with analysts' expectations.