Markets

Citigroup is to pay out $590m to shareholders in one of the biggest settlements connected to the global financial crisis, after it was accused of hiding its subprime exposure during the 2008 crash.

Barclays has appointed Antony Jenkins, its former head of retail and business banking, as its new boss.

The UK's Serious Fraud Office has revealed it is investigating payments between Barclays and Qatar Holding during the credit crisis, in yet another blow to the bank.

Threadneedle is to roll out a range of commission-free share classes across the majority of its fund range, and waive initial charges for advised UK retail investors, as it makes its proposition ready for the post-RDR world.

The US economy expanded by 1.7% in the second quarter, more than previously thought, the latest reading has shown.

Shares across Europe were lower in trading this morning as concerns mounted ahead of a key gathering of central bankers on Friday.

Sarasin & Partners' Guy Monson has warned sterling's recent show of strength against the euro could be about to end, as ECB intervention draws near and the UK's QE policy weighs on the pound.

The FTSE 100 is drifting into lower territory this morning, with miners and Olympic security firm G4S all acting as a drag on the wider market.

L&C CIO

ON UK GROWTH