UK

Old Mutual Global Investors' (OMGI) Richard Buxton discusses why the recent market correction was welcome, and why UK growth could falter later this year if global growth scares are echoed in this country.

The FTSE 100 reached a 14-year high yesterday while the S&P 500 hit a new record level, lifted by M&A activity.

INVESTMENT TRUSTs

Aberforth Partners co-founder David Warnock is to join Seneca Investment Managers as chairman.

Pension fund managers will be forced to fully disclose details of hidden costs associated with their products under new government plans, according to reports.

Berry Asset Management is to become Border & Cie (UK) as it adopts the name of its parent company ahead of a UK expansion.

Legal & General has agreed to acquire US investment group Global Index Advisors in a $50m deal.

Royal Bank of Scotland (RBS) is to cut 30,000 jobs as it scales back operations to become a more focused bank.

High valuations have made many wary of the UK market, but Alex Wright, manager of the Fidelity Special Situations fund, insists there are still plenty of unloved opportunities.

ON UK INCOME