UK

Schroders has cut the initial charge on a range of unit trusts from 5.25% to 3.25% ahead of the Retail Distribution Review.

Man Group shares soared in morning trading despite the group reporting a 40% fall in pre-tax profits for the nine months ended 31 December 2011.

ON UK INCOME

The nationalisation and resale of Northern Rock will rake in a profit of up to £11bn for UK taxpayers, it was announced today.

ON UK GROWTH

Walker Crips managers Jan Luthman and Steve Bailey have increased their exposure to companies operating in emerging markets in anticipation of further falls in sterling.

Royal Bank of Scotland has posted a worse than expected loss of £2bn for 2011, its fourth consecutive year of losses since its government bailout in 2008.

Wealth manager St James's Place (SJP) has reported a 30% rise in profits for 2011.

HSBC is preparing to sell new shares to pay senior staff bonuses of more than £50,000, under a new pay structure, according to reports.

The government received more income than it spent in January, posting the highest surplus for four years following a drive to cut public spending.