Markets

Shares in Schroders have climbed over 1% in early trading on the FTSE 100 as UBS removed its ‘sell' rating and investors grow more optimistic over the asset manager's prospects.

The managers of the Ruffer investment trust are concerned further monetary easing may lead to another financial crisis on a par with 2007/8 as talk of yet more stimulus fuels 'risk-takers'.

The Euro Group's new president has warned the UK could be facing a "new sterling crisis" as concerns grow over the state of public finances.

Barclays chief executive Antony Jenkins has suggested the growing automation of the banking system could result in massive job losses over the next ten years.

The Federal Reserve has said US banks have enough capital to survive a severe economic downturn, as 17 out of 18 major institutions passed its annual stress tests.

Chancellor George Osborne is set to give incoming Bank of England Governor Mark Carney more powers in a bid to revive the flagging UK economy.

Sterling has jumped against the dollar, reversing this morning's losses, after the Bank of England's Monetary Policy Committee (MPC) voted to keep its quantitative easing programme unchanged at £375bn.

Sterling fell back this morning ahead of the Bank of England's Monetary Policy Committee (MPC) announcement as traders speculated whether the Bank will restart the printing presses to shore up the UK's economic recover.

ON UK GROWTH

Standard Life has revealed restructuring and regulatory costs brought on by the Retail Distribution Review (RDR) and Solvency II cost the business £109m last year, up from £70m in 2011.