UK

The deal will obviously significantly enhance Henderson's presence in the retail fund market, but crucially it will remove the uncertainty surrounding Gartmore's future.

The deal announced today is a neat swerve by Henderson to pick up Gartmore on a two for three shares basis, which allows everyone involved to walk away with a semblance of dignity and begins to draw a line under a tricky period, to say the least.

Omega Insurance, a Lloyds of London insurer in which Invesco Perpetual's Neil Woodford is the largest shareholder, has received a takeover approach from rival Canopus.

Britain's banks were given the go-ahead last night to pay unlimited bonuses, drawing to a close a two-year political battle to rein in the City.

Guinness Asset Management has added six funds to its UK retail range, including equity income and global thematic offerings.

Neptune's Ted Alexander has turned over almost 100% of his UK Equity fund since taking over the mandate three months ago.

The FSA says adviser firms' over-reliance on risk profiling and asset allocation tools could be seriously detrimental to customers and warns it will take tough action on companies failing in this area.

THREADNEEDLE'S HARRISON UNNERVED BY THE UBER BULLS

Henderson is to merge away both its UK and European Opportunities funds as part of its rationalisation programme following the acquisition of New Star.

ON UK GROWTH