UK

UK supermarket Sainsbury's reported a drop in retail sales for the fourth quarter of 2014 as it warned its market will "remain challenging for the foreseeable future"

Liontrust's Anthony Cross, one of the largest shareholders in Charles Stanley, has backed the wealth firm's decision to offload its securities arm and said the company's business review can help it gain ground on peers.

Ian Trevers, head of UK retail at Invesco Perpetual, is to leave after more than two decades at the business.

Henderson European equities director John Bennett has joined the board of beleaguered Scottish football club Rangers.

M&G has reported a fifth consecutive year of record profits despite net outflows for its UK business increasing to £1.7bn in 2014.

Baring Asset Management has promoted Rod Aldridge to head of wholesale distribution for EMEA following the departure of Oliver Morath.

Mark Barnett has told Investment Week he is "concerned" over the fortunes of GlaxoSmithKline, a core holding in the Invesco Perpetual Income funds which he began running at the start of March 2014.

Legal & General has said it must "operationally leverage" its Cofunds platform and boost flows into its asset management arm this year in order to improve its business mix.

As Woodford Investment Management gears up for the launch of its Patient Capital investment trust, Investment Week visited the company's Oxford offices to quiz senior personnel about their plans for the future.

Major Sports Direct shareholder Crispin Odey has criticised the FTSE 100 firm's 14-month delay in appointing a finance director as a "big concern".