Markets

Hargreaves Lansdown has risen 5.8% to top the FTSE 100 leaderboard as the blue-chip index recovers from yesterday's decline.

BP has reported a 19% fall in profits for 2012 to $17.6bn (£11.2bn), down from $21.7bn the previous year, just days after the US court approved a record $4bn fine for the Gulf of Mexico oil spill.

Economic output per person in the UK will not recover to its pre-crisis peak until 2018, according to the National Institute of Economic and Social Research (NIESR).

Global markets, including the FTSE, pulled back sharply yesterday from multi-year highs, as political uncertainty in Spain and Italy spooked investors.

ON NORTH AMERICA

ON UK GROWTH

Paul Feeney has told Investment Week the terms negotiated on Skandia's soon-to-be-launched Select fund range will enable the group to offer the "best model portfolio service" to UK advisers and help them take power back from other distributors.

British banks that fail to separate their retail banking from their riskier investment banking arms may be forcibly dismantled, Chancellor George Osborne will say later today.

First State Investments has launched a Global Credit Income fund for the UK market, targeting wealth managers and discretionary investors.

Capita Registrars has cut its UK dividend growth projection for 2013 from 8% to 6.7%, warning payouts cannot outstrip GDP growth indefinitely.