UK

SVM will rename its UK 100 Select fund as UK Growth and change its benchmark to the FTSE All Share to more accurately reflect the portfolio's investment remit.

Senior Jupiter managers Tony Nutt, Philip Gibbs, Edward Bonham Carter and John Chatfeild-Roberts will together own almost 14% of the group following the IPO, valuing their stake at more than £105m.

Robin Geffen, the leader of the revolt against Prudential's $35.5bn bid for AIA, has labelled the insurer's bosses "petty-minded" after claming he is being frozen out of talks with management following the collapse of the deal.

Liontrust has decided to cut its dividend payment after seeing before tax profit slump from £14.3m to £796,000 over the year to end March.

Jupiter's IPO has been more than 2.5 times oversubscribed after a strong take-up from both institutional and retail investors.

Henderson's Mark Harris removed UK and Europe equity index shorts across his three multi-manager funds over the past few days after gaining confidence of a market rebound.

Aegon's Stephen Adams believes News Corp will need to increase its BSkyB takeover bid to more than £9 per share, saying the current offer underestimates the earnings potential of the broadcaster.

BP bonds have plunged today after the Fitch ratings agency cut its credit rating a full six notches from AA to BBB.

Major BSkyB shareholder Sanjeev Shah believes the broadcaster, which has received a full takeover approach from News Corp, is one of a number of media companies displaying "a lot of unrecognised value".

BP is facing a bill of up to $34bn from the Gulf of Mexico disaster after US senators demanded the oil company deposited $20bn into a ring-fenced account to meet escalating compensation costs.