UK

Neil Woodford has said he plans to create a major asset management business, rather than a simple boutique, as he begins life at Woodford Investment Management.

Pfizer, the US pharmaceuticals giant which today raised its offer for UK rival AstraZeneca, has written to Prime Minister David Cameron in an attempt to appease fears over the impact of any takeover.

Invesco CEO Martin Flanagan has played down analyst concerns over further UK equity income outflows as former employee Neil Woodford prepares to launch his own fund.

A trio of fund managers at Invesco Perpetual are exiting the firm to join Neil Woodford's new venture.

Phoenix Group Holdings is awaiting a boost from the Ignis deal, set to complete in Q2, as it sees a drop in cash generation in Q1 compared to last year.

Lloyds Banking Group has reported a 22% rise in underlying profit to £1.8bn in the first quarter of the year.

Mark Wignall from Mobeus Equity Partners, Andrew Garside from Baronsmead and Tim Levett from NVM Private Equity discuss the latest VCT trends with Alice Murray.

Standard Life's Q1 figures have been bolstered by further inflows into SLI's flagship GARS fund, but elsewhere the group said it had seen annuity sales fall 50% after March's Budget announcement.

Wealth adviser Towry has bought the assets of Baker Tilly's private client financial advice and investment management business for an undisclosed sum.

Former chancellor Norman Lamont (pictured) has become chairman of the Jupiter Second Split trust after Gordon Campbell passed away.