Markets

Scottish Widows Investment Partnership (SWIP) has seen outflows of £6.6bn from the business in 2012, after investors opted to move out of its insurance products.

Rayner Spencer Mills' research directors Ken Rayner and Graham O'Neill have picked a selection of funds from the IMA sector universe which have seen a recent rebound in performance.

Banking shares dragged the UK's leading index lower in morning trading following results from Lloyds Banking Group which revealed a £570m loss for 2012.

Brussels is to curb bankers' bonuses from next year in a major blow to the City and the government.

The founder of online voucher company Groupon has been ousted after shares in the firm fell 24% in a single day.

Lloyds Banking Group reported a loss for the full year to December 2012, much lower than the heavy losses seen the previous year, as reports suggest the UK government is gearing up to sell its stake in the bank.

The US economy expanded by 0.1% in the final quarter of 2012, after the initial estimate of a 0.1% contraction was revised upwards today.

Outsourcing giant Capita has made no further provision for Arch cru liabilities in its latest set of results.

The UK economy never experienced a 'double-dip' recession, if offshore oil figures are stripped out of the data, said Henderson Global Investors' economist Simon Ward.

UK GDP contracted 0.3% in the last quarter of 2012, according the second reading of the data.