Markets

Liontrust chief executive John Ions has said the group "does not see the need" to offer multiple share classes to different distributors in order to stay competitive.

The Bank of England has appointed Charlotte Hogg, head of retail distribution and intermediaries at Santander UK, as its chief operating officer.

The Cypriot president has asked eurozone officials to overhaul the country's €10bn bailout plan due to its unmanageable impact on the Cypriot economy, according to reports.

The long-awaited Parliamentary Commission on Banking Standards report has criticised the government's handling of part-nationalised UK banks and recommended criminal sanctions for senior executives who behave "recklessly".

UK CPI inflation rose from 2.4% to 2.7% in May, according to the Office for National Statistics, a larger than expected rise driven by transport and clothing costs.

US markets followed shares across Europe higher overnight, while the dollar also surged, ahead of the latest Federal Reserve meeting in the States which may map out a QE exit strategy.

Former BlackRock head of UK retail Mark Elliott is to join Franklin Templeton as the latter reorganises its UK sales team.

Threadneedle has hired L&G Investment Management's Matthew Evans to its UK small-cap equity team as it strengthens its capabilities in the sector.

Fidelity's Anthony Bolton has committed to hold on to his stake in the China Special Situations investment trust after he hands it over to Dale Nicholls in April next year.

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