UK

Global banking shares drove markets higher today following the outcome of the Basel III Committee meeting to reform the banking sector.

Swip Multi-Manager has hired FOUR Capital Partners to manage a mandate for its UK Equity Focus fund with an initial size of £256m.

Fund managers expect the Basel Committee's new rules on bank capital adequacy to have a major impact on financial sector debt and equity markets.

Invesco Perpetual star manager Neil Woodford believes equity markets can still provide meaningful returns despite the muted economic environment.

Terry Smith, the Tullett Prebon CEO and deputy chairman of Collins Stewart, plans to launch his own fund group in the coming months.

A group of Chinese investors are in the "early stages" of considering a bid for Prudential, according to a weekend report.

ON UK INCOME

Tom Turpin, the chief executive officer of Old Mutual Asset Management, is leaving the firm after eight years.

Aegon's high conviction UK Opportunities portfolio has outperformed UK All Companies sector since launch with focus on fundamental analysis

HMRC is facing accusations it cannot cope with the new 50p rate of income tax.