Markets

M&G has cut its position in St James's Place (SJP) after majority shareholder Lloyds sold down its own stake in the wealth manager.

The senior executives of collapsed bank HBOS will come under fire from MPs on Thursday with the publication of a damning report on the failed bank.

David Nish, the chief executive of Standard Life, saw his remuneration hit £5m last year, up from about £2.5m in 2011.

Vodafone shares have jumped to the top of the FTSE 100 leaderboard on talk that US peers Verizon and AT&T are working on a $245bn break-up bid for the firm.

City Financial has acquired OPM Fund Management for an undisclosed amount, taking over its £75.2m fund range in the process.

Japanese shares have slumped in this morning's trading as equity markets struggle to consolidate gains seen in the first quarter of 2013.

Q4 2012 US GDP has been revised up from 0.1% to 0.4%, though the figure remains the lowest level of quarterly growth seen since Q1 2011.

Senior staff at J O Hambro Investment Management are to buy out the business from owner Credit Suisse with the help of banking group Bermuda National.

ON NORTH AMERICA

The chief executive of the incoming Financial Conduct Authority (FCA) has said the body will be "much broader" in its approach to identifying mis-selling and other problems - including monitoring Twitter.