Markets

LATIN AMERICA

Martin Gilbert, the chief executive of Aberdeen Asset Management, has announced he is to resign from his role as chairman of beleaguered transport business FirstGroup, on the day the group also announced it is undertaking a rights issue.

Outgoing Bank of England Governor Sir Mervyn King has urged successor Mark Carney not to spell out how long interest rates will remain low when he takes charge.

Fidelity Worldwide Investment has cut a number of jobs across its IFA sales team, Investment Week can reveal.

The government is set to push ahead with plans to privatise Royal Mail this year in a £3bn float, as profits at the group continue to impress.

Yahoo, one of the world's most popular search engines, is said to have approved a $1.1bn deal to buy blogging service Tumblr, according to reports.

BP has become the victim of a "shakedown" by US regulators and media as it attempts to resolve claims arising from the 2010 Gulf of Mexico oil spill, according to M&G's Tom Dobell.

Online encyclopedia Wikipedia could be used to indicate future movements in the stock market, a new study has suggested.

IMA chief executive Daniel Godfrey says there is "no reason" why fund groups should not be able to agree a methodology for displaying costs more transparently by the end of 2013.

Shares in online grocer Ocado have risen 30% this morning on news of a deal to provide fellow retailer Morrisons with an online delivery service.