Markets

The Financial Services Authority has finalised new rules and regulations for financial benchmarks as it attempts to "bring integrity" back to the London Interbank Offered Rate.

Paul Griffiths is leaving his role as global co-head of fixed income at Aberdeen Asset Management, handing over sole responsibility for the role to Brad Crombie.

Shares in asset management giant Schroders were up sharply in early trading after the group announced it had agreed a deal to buy Cazenove Capital for £424m.

Cyprus has agreed a €10bn bailout deal that will force large losses on some big deposit holders but avoids a controversial levy on all bank accounts.

Schroders has agreed a £424m cash offer for Cazenove Capital in a deal that significantly strengthens its private banking, wealth management and funds businesses.

At first glance, Schroders' confirmation that is in talks to acquire Cazenove Capital makes perfect sense.

As advisers digest last week's revelation that top UK fund manager Richard Buxton is to exit Schroders after more than a decade at the group, attention is now turning to where to invest next.

Japan's Nikkei index experienced its biggest fall since November as concerns about Cyprus and the eurozone continued to batter markets.

Nick Ring has been promoted to head of distribution at Threadneedle after Campbell Fleming took over as CEO at the group.

Barclays shares worth a total of £39m have been awarded to nine executives as part of their long-term remuneration packages, the group said yesterday.